MassMutual

The financial institution assigns decision-making and oversight responsibility for its sustainability strategy to the highest governance body and monitors its Scope 1-2 emissions. It has one or more interim targets for latest 2030 (e.g. 2025 and 2030) aligned with a 1.5C trajectory. Furthermore, the financial institution discloses the amount and/or share (in monetary terms) of products, services, and capital provided to usually excluded groups, defined by the institution itself. Also, it discloses its operational details by country such as by number of employees or revenue.

The financial institution has a publicly available policy statement committing to respect specific workers’ rights and expects suppliers to do the same, with an opportunity to reference all ILO fundamental rights at work. It could disclose how it determines a living wage in its operational regions and provide a publicly available policy statement prohibiting bribery and corruption, including anti-bribery and anti-corruption clauses in contracts. Political contributions are made after approval from the Massachusetts Mutual Life Insurance Company Political Action Committee (MMPAC), but it could clarify whether these are made only by exception and the criteria for such contributions. While material sustainability impacts are identified, further detail on the process and criteria for prioritisation across the value chain is needed.

The institution discloses the aggregate amount of its nature-positive solutions but could provide more detail on this. Monitoring of other scope 3 categories is also recommended. The methodology for carbon footprint calculation requires comprehensive coverage, including emissions data and standards.

A breakdown of clients by income group and a risk assessment process that includes ILO fundamental rights is suggested, along with a process for mitigating identified risks. Additionally, identifying social risks related to the net zero transition and providing examples of actions taken on salient human rights issues in the last three years is recommended.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.