Metlife

The financial institution identifies bribery and corruption risks, which likely involves a comprehensive examination of internal processes, transactions, and behaviors. Moreover, the institution discloses the positions it takes during its lobbying and political engagement activities on sustainability topics.

It also transparently identifies the key sectors, clients, and investees with which it engages on climate issues.

Finally, the institution discloses the amount and/or share of products, services, and capital provided to a usually excluded group, as defined by itself. This disclosure demonstrates the institution’s efforts to reach and support underrepresented or marginalized segments, potentially as part of its broader social responsibility initiatives.

The financial institution has a publicly available policy statement committing to respect specific workers’ rights, yet it could reference all the ILO fundamental rights at work to enhance its commitment. The institution states it doesn’t make political contributions. However it has the opportunity to formalize this in a public policy document. It disclosed a list of material topics in 2020, but since then, the materiality analysis has not been updated. It could consider the full value chain for this assessment and provide more details on how objective criteria and supportable evidence were used for impact identification and prioritization. MetLife Investment Management (MIM), the institution’s investment management business, publishes a stewardship policy on ESG issues. However, the institution should disclose its own stewardship policy at the group level, covering all portfolios and supporting environmental transitions and social best practices in line with its sustainability strategy.

While the institution says it’s not using its lobbying and political engagement power negatively, it’s not making a firm commitment. And when it discloses its involvement with stakeholders regarding lobbying and public policy, it needs to detail specific actions. The institution has time-bound and measurable targets for impact investments but should specify the share for climate solutions. When disclosing the use of proceeds for certain projects related to nature-positive solutions, it could further detail what this disclosure entails. It is recommended that the financial institution discloses the breakdown of clients and/or beneficiaries by income group. Furthermore, it is recommended that the financial institution discloses its process for identifying social risks associated with its products, services, and capital in relation to the net zero transition. Finally, it is recommended that the financial institution provides an example of the conclusions and actions regarding at least one of its significant human rights issues, resulting from assessment processes in at least one of its activities in the last three years.

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.