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MetLife has partnered with the Haas School of Business at UC Berkeley to sponsor the Cleantech to Market (C2M) accelerator program, aimed at supporting climate tech entrepreneurs. The sponsorship involves financial aid for the 2022 program and awards for the top three teams. MetLife employees will provide mentorship and expertise while aligning with the company’s 2030 Climate Goals to reduce greenhouse gas emissions by 30% and achieve net-zero emissions by 2050. MetLife aims to leverage this partnership to enhance its role in environmental stewardship.
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Financial support for climate tech initiatives through the Cleantech to Market program.
Establishment of awards to promote innovation in climate solutions.
Employee engagement in mentorship roles enhances corporate social responsibility.
Alignment with long-term sustainability goals, including net-zero emissions by 2050.
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None.
NEW YORK--(BUSINESS WIRE)--
MetLife and Haas School of Business, University of California, Berkeley, today announced that MetLife has sponsored the Cleantech to Market (C2M) accelerator program. MetLife is providing financial support for the school’s 2022 C2M program, which creates and coaches interdisciplinary teams of Berkeley graduate students to assist entrepreneurs from across the country in commercializing the most promising climate tech innovations. MetLife will also award Climate Solution prizes to the top three teams during C2M’s Annual Climate Tech Summit in early December. The monetary prizes will support the growth of the winning teams’ solutions.
In addition, MetLife employees will lend business development and management expertise to the C2M program by serving as guest speakers, mentors, and coaches throughout the semester, while also learning about cutting-edge clean technology solutions.
“MetLife’s commitment to environmental stewardship is directly aligned to our company’s purpose to build a more confident future,” said MetLife Chief Sustainability Officer Jon Richter. “This new sponsorship of the Cleantech to Market accelerator program is one way we’re continuing to invest in a more resilient planet, as we recognize the important role that tech entrepreneurs can play in delivering climate-related solutions.”
The C2M sponsorship further advances MetLife’s 2030 Climate Goals, which include developing products and partnerships that help drive climate solutions. MetLife’s other climate commitments include reducing location-based greenhouse gas (GHG) emissions by 30 percent from 2019 to 2030, originating $20 billion of new green investments and planting five million trees by 2030, and reaching net zero emissions for the company’s global operations and its general account investment portfolio by 2050.1
MetLife has long been an industry leader on sustainability and climate change. For example, in 2016, MetLife became the first U.S.-based insurance company to achieve carbon neutrality, a status it has consistently maintained since. In 2020, Metropolitan Life Global Funding I issued a $750 million green bond, the industry’s first note secured by a green funding agreement.
“We’re so thrilled to welcome MetLife as a C2M sponsor and supporter,” said Brian Steel, co-director of the C2M program since 2012. “For the past 14 years, C2M has taught the real-world commercialization skills required to build successful startups that address critical energy, environmental, and climate change issues. Our C2M alumni now comprise a ‘who’s who’ in climate tech leadership and we’re excited to see how this year’s cohort leverages the added support from MetLife.”
Each spring, the C2M program works with its nationwide ecosystem of accelerators, incubators, national labs, and other top-tier universities to identify entrepreneurs with promising climate technologies. Graduate student teams are then created to bring the best mix of skills and experience to these projects. In the fall semester, C2M guides these teams through a structured process of assessment and discovery, connecting them to leading professionals who bring deep subject matter expertise. The program culminates with the annual climate tech summit, where the students present their findings and recommendations and compete for awards. This year’s summit will take place at Berkeley Haas on December 2, 2022.
Since its founding by students in 2008, C2M has paired more than 300 researchers and entrepreneurs with student teams. The majority of the technologies C2M teams have supported have become startups, which have collectively raised more than $250 million in disclosed funding and employ nearly 400 people.
1 The net zero commitment applies to greenhouse gas emissions from MetLife, Inc.’s owned and leased offices across the world, automobile fleets, employee business travel, and assets in MetLife’s general account investment portfolio, which includes the general accounts of MetLife, Inc.’s wholly owned insurance company subsidiaries, where data and methodologies are available. Emissions are tracked and reported in accordance with the Greenhouse Gas Protocol. Read more about MetLife’s climate commitments. Additional information about MetLife’s general account investment portfolio is available online. MetLife is committed to identifying, measuring and analyzing climate data, as well as risks and opportunities, as measurements and standards evolve. While the exact technologies, policies and strategies to reach net zero greenhouse gas emissions are not known at this time and many uncertainties remain, MetLife will continue to strive to be a force for good in the world.
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 Haas
As the second-oldest business school in the United States, Berkeley Haas has been questioning the status quo since its founding in 1898. It provides research, thought leadership, and talent development to lead the way to a more inclusive and sustainable future.
Forward-Looking Statements
The forward-looking statements in this news release, such as “commitment,” “originating,” “reaching,” “reducing,” “will,” “2030,” and “2050” 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.
For Haas School of Business, University of California, Berkeley:
Kim Girard (415) 298-6336
kim_girard@haas.berkeley.edu
Source: MetLife
FAQ
What does MetLife's sponsorship of the C2M program entail?
MetLife's sponsorship includes financial support for the Cleantech to Market (C2M) accelerator program and the awarding of prizes to the top three teams.
How will MetLife contribute to the C2M program?
MetLife employees will act as mentors and coaches, sharing their business development expertise.
What are MetLife's 2030 Climate Goals?
MetLife aims to reduce location-based greenhouse gas emissions by 30% from 2019 levels and achieve net zero emissions by 2050.
When is the C2M Annual Climate Tech Summit taking place?
The C2M Annual Climate Tech Summit is scheduled for December 2, 2022.
How much has MetLife committed to green investments?
MetLife has committed to originating $20 billion of new green investments by 2030.
