Commercial, GHG Emissions - April 15, 2021
MassMutual Commits to Net Zero
Massachusetts Mutual Life Insurance Company (MassMutual) announced on April 15 the company’s climate change commitments to transition both its portfolio and operations to net zero, advancing a decarbonized economy.
MassMutual’s climate change commitments include:
- Net Zero operations by 2030: Achieving net zero greenhouse gas (GHG) emissions in MassMutual’s operations by 2030 by reducing emissions, purchasing renewable energy, and removing the remaining footprint through credible offsets.
- Net Zero investment portfolio by 2050: Transitioning to net zero GHG emissions in MassMutual’s investment portfolio1 by 2050 through responsible investment and stakeholder collaboration, making MassMutual the first US-based mutual insurance company to make this pledge.
“Protecting the environment and addressing the lasting effects of climate change are among the most pressing challenges faced by our world today. As a company with a long-term perspective that has served its customers and communities for 170 years, we are accelerating our sustainability efforts in both how we invest and how we run our business. We believe this approach will not only help us enhance our growth and profitability but enable us to remain committed to a greater good that will create a better, more sustainable future for generations to come,” said Roger Crandall, Chairman, President and CEO of MassMutual in a statement.
The next steps for Mass Mutual include an assessment of ESG components of their portfolio in order to develop specific interim GHG reduction targets. Over the next year, MassMutual will develop a detailed roadmap to achieve both net zero commitments, which is expected to evolve as more research and technology in the space become available.