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MetLife Foundation Announces Strategy to Drive Inclusive Economic Mobility
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MetLife Foundation has launched a new strategy to enhance inclusive economic mobility by supporting underserved communities globally. This initiative builds on the Foundation's 2030 Diversity, Equity and Inclusion Commitments, involving a pledge of $150 million and 800,000 volunteer hours from employees. The strategy aligns with U.N. Sustainable Development Goals focusing on economic inclusion, financial health, and resilient communities. The Foundation's first wave of grants exceeds $25 million, supporting various nonprofit organizations.
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MetLife Foundation pledges $150 million and 800,000 volunteer hours from employees to support underserved communities.
Grants totaling over $25 million have been issued to various initiatives promoting economic inclusion and financial health.
Collaboration with nonprofits aims to address the racial wealth gap and empower marginalized entrepreneurs.
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Funds and volunteerism will address economic, social and environmental issues impacting underserved and underrepresented communities
NEW YORK--(BUSINESS WIRE)--
MetLife Foundation today announced a strategy aimed at driving inclusive economic mobility by addressing the needs of underserved and underrepresented communities around the globe. This multi-pronged strategy builds upon MetLife’s 2030 Diversity, Equity and Inclusion Commitments, through which the Foundation pledged $150 million in funding and MetLife pledged 800,000 employee volunteer hours in support of historically marginalized individuals and their families between 2021 and 2030.
MetLife Foundation’s grantmaking and impact investments will be aligned to the U.N. Sustainable Development Goals and three core portfolios:
Economic Inclusion: Upskilling and reskilling talent to be competitive in a new economy
Financial Health: Enabling budget management, savings, and access to credit and benefits as part of a broader wealth-building strategy
Resilient Communities: Expanding access to wellness resources, as well as supporting a more resilient planet through climate-focused grants
“For 154 years, MetLife has made a positive impact on the communities we serve by creating financial security and using the breadth of our resources to address pressing social and economic issues,” said Mike Zarcone, Head of Corporate Affairs for MetLife and Chairman of MetLife Foundation. “With the updated focus of MetLife Foundation, we aim to further drive a more equitable and confident future for vulnerable and historically marginalized communities around the world.”
MetLife Foundation’s efforts will be augmented by MetLife employee-driven volunteering and skills-based pro bono projects that leverage MetLife employees’ talent to expand the capacity of non-profit organizations, delivering even deeper impact. In 2021, more than 25,000 MetLife employees volunteered more than 61,000 hours across 37 countries.
"By combining MetLife’s talent with MetLife Foundation’s philanthropic investments, we can amplify our impact by leveraging the time, expertise and passion of MetLife employees to be a force multiplier in communities around the world," said Tia Hodges, President and CEO of MetLife Foundation and Head of Corporate Giving and Employee Volunteerism at MetLife.
As part of this strategic shift, MetLife Foundation has issued its first wave of grants totaling more than $25 million. Select examples include:
A grant to digitalundivided to help Black and Latina women create, launch and grow their enterprises.
An expanded relationship with Girls Who Code to increase inclusion of girls, women and nonbinary individuals in the tech talent pipeline by launching a new mentoring platform and embedding financial education in its curriculum.
Renewed support for Living Cities for the Closing the Gaps network to address the racial wealth gap in the U.S.
A new collaboration with the National Disability Institute to support the financial health and well-being of Black, Latinx and small- and medium-size business owners with disabilities.
A new relationship with Planet Water Foundationto bring access to clean, safe drinking water to communities in six states across Mexico.
A collaboration with Village Capital to launch the ADAPT: Social Innovation for a More Resilient Future accelerator program, which will identify and elevate next-generation innovations that address financial well-being and career mobility, as well as create environmental resiliency.
A new relationship with Vision to Learn to reach more than 200,000 low-income young people with critical eye care.
An expanded relationship with Women’s World Banking to increase access to financial services for low-income women and women entrepreneurs in India.
Regular updates on the progress of this work will be provided through MetLife’s annual sustainability report. For more details on MetLife Foundation, visit www.MetLife.org.
About MetLife Foundation
At MetLife Foundation, we are committed to driving inclusive economic mobility for underserved and underrepresented communities around the world. We collaborate with nonprofit organizations and provide grants aligned to three strategic focus areas – economic inclusion, financial health and resilient communities – while engaging MetLife employee volunteers to help drive impact. MetLife Foundation was established in 1976 to continue MetLife’s long tradition of corporate contributions and community involvement. Since 1976, MetLife Foundation has contributed over $900 million to strengthen communities where MetLife has a presence. To learn more about MetLife Foundation, visit www.MetLife.org.
Forward-Looking Statements
The forward-looking statements in this news release, such as “pledged,” “will,” and “2030” are based on assumptions and expectations that involve risks and uncertainties, including the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife’s future results could differ, and it has no obligation to correct or update any of these statements.
