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MetLife Foundation Announces Additional $1 Million to Support Students at HBCUs
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The MetLife Foundation has committed an additional $1 million to the UNCF for scholarships at Historically Black Colleges and Universities (HBCUs), completing its $5 million racial equity initiative announced in 2020. This was revealed by CEO Michel Khalaf at the 2022 UNCF annual gala. The grant will establish the MetLife Foundation Legacy Endowment Scholarship, aiming to support African American students in business fields. MetLife also unveiled new diversity, equity, and inclusion (DEI) goals, including a commitment of $1 billion in investments for minority-owned firms by 2030.
Positive
Completion of a $5 million racial equity commitment enhances brand reputation.
Establishment of new scholarship initiatives supports African American students.
New DEI goals include $1 billion investments in minority-owned firms and $150 million for underrepresented communities.
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Latest grant to the UNCF rounds out MetLife Foundation’s $5 million commitment to racial equity announced in 2020
NEW YORK--(BUSINESS WIRE)--
MetLife Foundation is providing an additional $1 million to the UNCF to help finance scholarships at Historically Black Colleges and Universities (HBCUs).
MetLife President and CEO Michel Khalaf announced this commitment last night during the 2022 UNCF annual gala held in New York City. At the event, Khalaf also accepted UNCF’s Legacy Partner Award on behalf of MetLife. MetLife has partnered with the UNCF since 1946.
The latest $1 million grant will fund the new MetLife Foundation Legacy Endowment Scholarship. This program is being established alongside the MetLife Foundation Scholarship Fund – a UNCF program established in 2020 to support African American students majoring in business, accounting or finance at HBCUs.
The latest grant also completes the commitment MetLife Foundationannounced in June 2020 to provide $5 million over three years to advance racial equity in the United States.
“MetLife Foundation’s ongoing support of underserved and underrepresented communities is part of MetLife’s broader commitment to diversity, equity and inclusion,” said Khalaf. “The culmination of the $5 million pledge to advance racial equity serves as a launchpad for broader efforts we’re undertaking to reduce inequality, create economic stability, and build a more inclusive and confident future for all.”
Yesterday, MetLifeannounced a comprehensive set of diversity, equity and inclusion (DEI) goals to be achieved by 2030. As part of the seven new goals, MetLife committed to originate $1 billion in investments that advance firms owned by women, minorities and disabled persons, and to spend an additional $1.6 billion with diverse suppliers. In addition, MetLife Foundation committed to providing $150 million to support underserved and underrepresented communities.
Click here for more information on MetLife’s commitment to DEI.
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help individual and institutional customers build a more confident future. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
About MetLife Foundation
At MetLife Foundation, we are committed to expanding opportunities for low- and moderate-income people around the world. We partner with nonprofit organizations and social enterprises to create financial health solutions and build stronger communities, while engaging MetLife employee volunteers to help drive impact. Our financial health work has reached more than 17.3 million low- and moderate-income individuals in 42 countries. Learn more at MetLife Foundation.
