Commercial, GHG Emissions - September 24, 2020
MetLife targets 30% emissions cut in next 10 years
MetLife announced Sept. 23 that they are committed to reducing their location-based greenhouse gas emissions by 30% between 2019 and 2030.
The financial services company also announced that they will be originating $20 billion in new MetLife Investment Management (MIM)-managed green investments and allocating $5 million toward projects that drive climate solutions. At the end of 2019, MIM was managing more than $18.2 billion in green investments, including ownership stakes in wind and solar farms. They are also committed to maintaining carbon neutrality annually across their global offices, fleet and business travel.
“Our commitment to the environment reflects our purpose as a company,” Mike Zarcone, head of Corporate Affairs and Sustainability at MetLife, said in a statement. “Building a more confident future requires us to use natural resources sustainably and help address issues such as climate change.”
MetLife also pledged to reduce the emissions in their value chain by working with 100 of their suppliers to set their own emissions reduction targets by 2025. As part of these announcements, the company said that the MetLife Foundation will grant $10 million for environmental causes.
These initiatives are all part of MetLife’s newly released 2030 Environmental Goals, of which there are 11. The company previously surpassed their 2020 targets and reduced annual energy consumption by 33% and location-based emissions by 27% between 2012 and 2019.