MetLife 2023 Sustainability Report: Responsible Investments for the Future

NORTHAMPTON, MA / ACCESSWIRE / August 5, 2024 / MetLife, Inc.

MetLife Sustainability Report

For more than 150 years, MetLife has been committed to serving our stakeholders as set forth in our Code of Business Ethics. As a responsible investor, MetLife maintains a long-term, value-driven portfolio. MetLife's responsible investments intend to achieve a market financial return while considering social and/or environmental benefits that help create healthier communities and a more sustainable environment. These investments focus on the core areas of infrastructure, green, municipal bonds, affordable housing and impact investments.¹

Core Areas of Responsible Investing

Infrastructure Investments

MetLife invests in infrastructure projects that create jobs and economic benefits. These could include building or upgrading airports, ports, roads, pipelines, transmission lines and power generation.

In 2023, MetLife committed $44 million to a private infrastructure deal issued by Solek Chile, a leading developer and sponsor of solar photovoltaic (PV) projects operating within Chile's special portfolio for distributed generation-the "PMGD" regime (from its acronym in Spanish, Pequeños Medios de Generación Distribuida). The Private Placement debt market transaction comprises 26 distributed solar PV plants and one utility-scale PV plant (Leyda, in construction) located close to Santiago. The PMGD regime was created by the Chilean government in 2005 to incentivize the development of greener and more distributed energy generation and reduce Chile's environmental footprint through updated technology.

Learn more about MIM infrastructure strategies:

• Infrastructure Debt Delivers Reliable Returns;

• European Infrastructure Debt Aligns with ESG Goals; and

• Investing in Water Infrastructure.

Green Investments

MetLife invests in companies and projects that are focused on the conservation of natural resources, the production and discovery of alternative energy sources, the implementation of clean air and water projects, and other environmentally conscious business practices.

One such investment is Intersect, a "creative campus-style" office park in California that is a joint venture between MetLife's GA and Dutch Pension Fund PGGM. The venture is installing a 2.2 megawatt rooftop and car canopy solar array and a 573 kilowatt-hour battery energy storage system, which is designed to enable 74% of Intersect's energy needs to be met by on‑site production. The property also features a large urban garden, sports facilities, wellness trails and more.