Net Zero Commitment
MetLife is committed to Net Zero greenhouse gas (GHG) emissions for its global operations and General Account investment portfolio by 2050 or sooner.1
For years, MetLife has applied a diverse range of strategies to reduce emissions generated by its environmental footprint. MetLife is making progress toward its interim targets, which support our ambition to reach Net Zero greenhouse gas (GHG) emissions for its global operations and General Account (GA) investment portfolio by 2050 or sooner,1 as part of MetLife’s overall business strategy to create long-term value for colleagues, customers, shareholders, business partners and communities around the world.
This commitment builds on our longstanding history of environmental stewardship, which entails working toward an inclusive, resilient and thriving environment for present and future generations. To help reduce emissions to as close to zero as possible in the coming decades, we are focusing on MetLife, Inc.’s global owned and leased offices and vehicle fleets, employee business travel, supply chain and assets in MetLife’s GA investment portfolio, which includes the general accounts of MetLife, Inc.’s wholly owned insurance company subsidiaries.
MetLife has voluntarily produced and publicly disclosed an inventory of GHG emissions from our operations for many years. While reliable methodologies and data sets pertaining to certain emissions are not available at this time, we are committed to improving our data quality and tracking capabilities as standards and methodologies continue to evolve. Emissions calculations are informed by the GHG Protocol and Partnership for Carbon Accounting Financials (PCAF), unless otherwise directed by regulators.
Reducing GHG emissions in alignment with the aims of the Paris Agreement.
Collaborating with our stakeholders to collectively work toward a Net Zero future.
Financing solutions to drive progress toward a low-carbon economy.
Responding to changes in the market and striving to incorporate the latest climate science into our strategy.
2030 Interim Targets
(by 2030, unless otherwise indicated)
Global Operations
Goal: Reduce Scope 1, 2 and 3 business travel emissions by 50% from 2019 baseline.2
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Reduced emissions by 44% compared to 2019 baseline through measures such as increasing energy efficiency and reducing consumption at offices, greening vehicle fleets and reducing business travel, where possible. |
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Installed new building management system at 13 of our largest offices in the U.S. to promote energy optimization, resulting in 1,917 metric tons of carbon savings. |
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Goal: Two-thirds of suppliers by spend set emissions-reduction goals aligned with the aims of the Paris Agreement.3
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Approximately 50% of suppliers by spend have set goals aligned with climate science. |
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Encouraged suppliers to set emissions reduction targets via the CDP Supply Chain Program. |
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General Account Investments
Goal: Reduce GHG emissions for real estate equity investments by 50% from 2019 baseline.4
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Reduced financed emissions by 11% between 2019 and 2022, by advancing MetZero™ across our real estate equity portfolio. |
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Updated emissions calculation methodology for real estate equity investments, informed by PCAF. |
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Goal: Engage emitters responsible for at least 50% of public corporate debt financed emissions on climate annually.5
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Engaged issuers responsible for 47% of financed emissions in public corporate debt. |
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Deepened credit analyst engagement on climate issues with portfolio holdings globally. |
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Progress update on environmental initiatives
Read our latest Sustainability Report
for more information on MetLife’s initiatives and progress.
1 See Explanatory Note for additional information about MetLife’s GA investment portfolio.
2 Applies to global owned and leased offices, global vehicle fleets (Scope 1 and 2 emissions), and employee business travel (Scope 3 Category 6).
3 Target measures MetLife suppliers that make public commitments to reduce GHG emissions by 2025 or later, aligned with limiting global temperature rise to 2°C above pre-industrial times. Spend represents procurable spend with third‑party suppliers. MetLife uses its own discretion for determining supplier alignment to the Paris Agreement based on supplier’s reported emissions reduction goal attributes, such as scope coverage, target year, base year and reduction percentage. Evaluation occurs on an annual basis.
4 Applies to MetLife, Inc.’s financed emissions associated with its GA investment portfolio (Scope 3 Category 15). These are real estate equity assets, including several asset classes (offices, multifamily, industrial, retail, single family rentals, hotels and other property types). Emissions calculations are informed by the Partnership for Carbon Accounting Financials and are associated with the underlying investment property’s Scope 1 and 2 emissions, and Scope 3 tenant emissions (including power that is directly generated or consumed on-site) for real estate investments, where reliable data and methodologies are available. It should be noted that the Company generally recognizes the one-year lag in emissions information available and that real estate investment emissions reported by MIM for MetLife’s GA portfolio are separate and distinct from the operational emissions reported by MetLife, Inc. for its corporate offices (both owned and leased). See Explanatory Note for additional information about MetLife’s GA investment portfolio.
5 Applies to MetLife, Inc.’s financed emissions associated with its GA public corporate debt portfolio (Scope 3 Category 15), where reliable data and methodologies are available. Public corporate debt consists of public corporates, emerging market debt and high yield. Percentage reflects engagement between the time this interim target was launched in June 2023 and December 31, 2023, based on emissions data and position data as of year‑end 2022 (source: MSCI). Year-end 2022 emissions data available represents 88% of the relevant sectors based on book value. See Explanatory Note for additional information about MetLife’s GA investment portfolio.