GRI 102: General Disclosures
102-1
Name of the organization
MetLife, Inc.
102-2
Activities, brands, products, and services
2019 10-K pages 5-9
102-3
Location of headquarters
200 Park Ave., New York, NY 10166
102-4
Location of operations
2019 10-K pages 9-12; Global Locations
102-5
Ownership and legal form
C corporation
102-7
Scale of the organization
102-8
Information on employees and other workers
Appendix/Performance Data/Workforce Data
MetLife’s work is not substantially performed by workers who are legally recognized as self-employed or who are employees of contractors. MetLife does not have any significant annual variation in employment numbers.
102-9
Supply chain
102-10
Significant changes to the organization and its supply chain
2019 10-K page 68
102-11
Precautionary Principle or approach
102-12
External initiatives
Signatory to the UN Principles for Responsible Investment; Catalyst CEO Champions for Change; One Mind at Work Pledge; Signatory to United Nations Women's Empowerment Principles; CEO Action for Diversity & Inclusion
2020 Proxy Statement pages 9-10
102-13
Membership of associations
Some of the policy, research and trade associations with whom we engage include:
• American Council of Life Insurers
• American Property Casualty Insurance Association
• Atlantic Council
• Business Council for International Understanding
• Coalition of Service Industries
• Council of the Americas
• Council on Foreign Relations
• Geneva Association
• Institute of International Finance
• Insurance Institute for Business & Home Safety
• Japan Society
• Korea Society
• National Center for Asia Pacific Economic Cooperation
• Washington International Trade Association; Bipartisan Policy
Center; U.S. Chamber of Commerce; American Enterprise Institute; Business Roundtable
• Wildfire Defense Systems
• Principles of Responsible Investment
Some of the environmental associations with whom we engage include:
• Carbon Disclosure Project
• Center for Active Design
• Climate Leadership Council
• Forest Stewardship Council
• Sustainable Forestry Initiative
• United States Department of Energy
• United States Environmental Protection Agency
• United States Green Building Council
See also the Benefits section of our ESG Data Center
102-14
Statement from senior decision-maker
Our Strategy & Leadership/A Message From Our President and CEO
CEO's Letter: 2019 Annual Report
Letter from Chairman of the Board: 2020 Proxy Statement
102-16
Values, principles, standards, and norms of behavior
Managing Sustainability/Ethics and Compliance
MetLife Purpose
MetLife Financial Management Code of Professional Conduct
MetLife Director’s Code of Business Conduct and Ethics
MetLife Corporate Conduct
MetLife Code of Business Ethics
MetLife Corporate Governance
MetLife Ethics and Integrity
MetLife Customer Privacy Policy
MetLife Supplier Code of Business Ethics
102-18
Governance structure
Corporate Governance;
Governance and Corporate Responsibility Committee Charter
2020 Proxy Statement pages 11-15, 17, 31-38
102-20
Executive-level responsibility for economic, environmental, and social topics
Protecting Our Environment/Climate Change; 2020 Proxy Statement pages 8-10, 38, 41, 61, 64
102-29
Identifying and managing economic, environmental, and social impacts
Protecting Our Environment/Climate Change; 2020 Proxy Statement pages 8-10, 38, 41, 61, 64
102-40
List of stakeholder groups
Appendix/Stakeholder Engagement; 2020 Proxy Statement:
Chairman's Letter and pages 8, 41, 61
We consider our stakeholders to include investors and shareholders, customers, employees, governments and regulators, and the communities where we operate
102-41
Collective bargaining agreements
We do not closely track this metric due to differing definitions
of collective bargaining agreements across locations. Some of
our non-U.S. (non-agency) employees are covered, while in the
United States, we do not have a collective-bargaining agreement
covering employees.
102-42
Identifying and selecting stakeholders
We primarily engage with stakeholders who have a high impact on and who are most affected by MetLife's business operations.
102-43
Approach to stakeholder engagement
Strengthening Our Workforce/Caring for Our Employees/Employee feedback; Appendix/Stakeholder Engagement; 2020 Proxy Statement: Chairman's Letter and pages 8, 41, 61
Investors: Engagement via annual and required SEC filings, investor presentations, roadshow participation and direct interaction.
Employees: Employee surveys annually (including our global
organizational health survey), annual performance reviews and direct conversations with supervisors/managers.
Governments: Engagement on a continual basis at the international, national, regional, and local level and participation in industry associations on an annual membership basis.
Communities: Engagement via MetLife Foundation activities and employee volunteerism.
Customers: Engagement via direct outreach and conversations
(continual), customer satisfaction surveys (including Net Promoter Surveys) and responses to RFPs.
In 2019, we:
1. Continued to enhance our NPS program to generate more granular information, drilling down to an individual product level instead of focusing on the entire business as a whole. The survey also now allows for a deeper understanding of experience at customer touchpoints for each product. As a result, insights are expected tobe far more actionable.
2. Took stock of key transactional NPS surveys to build a more
streamlined and standardized framework for surveys across
touchpoints and countries. This will allow for better in the moment measurement of customer experiences.
3. Continued embedding the Voice of the Customer in the New
Product Development (NPD) process to create stronger and
more differentiated solutions for our customers.
102-44
Key topics and concerns raised
102-45
Entities included in the consolidated financial statements
2019 10-K, Exhibit 21.2
102-46
Defining report content and topic Boundaries
Our Strategy & Leadership/A Message From Our President and CEO, Our Sustainability Priorities
CEO's Letter: 2019 Annual Report
The content of this report aligns with MetLife's sustainability priorities,
strategy, and materiality
102-47
List of material topics
Our most recent materiality assessment was performed in 2017 and identified the following material topics:
Financial Performance; Risk Management; Information Security and Privacy; Customer Experience; Employee Experience;
Product Accessibility
See also Our Sustainability Priorities and 2020 Proxy Statement page 41 for a summary of MetLife's strategic approach to ESG issues, developed in 2019.
102-48
Restatements of information
No significant changes
102-49
Changes in reporting
No significant changes
102-50
Reporting period
January 1 — December 31, 2019, unless otherwise noted
102-51
Date of most recent report
April 2019
102-52
Reporting cycle
Annual
102-53
Contact point for questions regarding the report
We invite your comments, questions, and feedback on this report. Please contact us at: globalimpact@metlife.com
102-54
Claims of reporting in accordance with the GRI Standards
This report has been prepared in accordance with GRI: Core.
GRI 200: Economic
103-1
Explanation of the material topic and its Boundary
103-2
The management approach and its components
103-3
Evaluation of the management approach
201-1
Direct economic value generated and distributed
201-2
Financial implications and other risks and opportunities due to climate change
103-1
Explanation of the material topic and its Boundary
103-2
The management approach and its components
103-3
Evaluation of the management approach
202-2
Proportion of senior management hired from the local community
80% of senior management at significant locations of operation are hired from local communities. For this report, “senior management” is defined as officers of the company, “local” is defined as employees born or who have the legal right to reside indefinitely in the same geographic market as the operation, and “significant locations of operation” are defined as locations with at least 750 employees.
103-1
Explanation of the material topic and its Boundary
103-2
The management approach and its components
103-3
Evaluation of the management approach
203-1
Infrastructure investments and services supported
203-2
Significant indirect economic impacts
205-1
Operations assessed for risks related to corruption
All MetLife operations globally undergo an anti-corruption risk assessment at least annually, while ongoing monitoring and testing activities ensure that key anti-corruption controls effectively mitigate corruption risk.
205-2
Communication and training about anti-corruption policies and procedures
Managing Sustainably/Ethics and Compliance; Code of Business Ethics
The MetLife Global Anti-Corruption Policy has been communicated in local languages to all MetLife employees globally. The policy is also available on MetLife’s global intranet sites for all employees to access. Third parties are also trained on MetLife’s policy through a brochure that is provided to all third parties we engage globally.
206-1
Legal actions for anticompetitive behavior, antitrust, and monopoly practices
None at the corporate level.
GRI 300: Environmental
302-1
Energy consumption within the organization
Appendix/Performance Data/Environmental Data; CDP Climate Change 2019, C8.
Energy There was no energy consumption from energy generated from heating, cooling, or steam. MetLife does not sell energy
302-3
Energy intensity
302-4
Reduction of energy consumption
103-2
The management approach and its components
Protecting Our Environment/Carbon Neutrality, Climate Change; MetLife's Statement on Climate Change; 2019 10-K pages 41 and 42
305-1
Direct (Scope 1) GHG emissions
Appendix/Performance Data/Environmental Data; CDP Climate Change 2019, C6. Emissions Data
305-2
Energy indirect (Scope 2) GHG emissions
Appendix/Performance Data/Environmental Data; CDP Climate Change 2019, C6. Emissions Data
305-3
Other indirect (Scope 3) GHG emissions
Appendix/Performance Data/Environmental Data; CDP Climate Change 2019, C6. Emissions Data
305-4
GHG emissions intensity
Appendix/Performance Data/Environmental Data; CDP Climate Change 2019, C6. Emissions Data
305-5
Reduction of GHG emissions
Protecting Our Environment/Carbon Neutrality, Climate Change;
CDP Climate Change 2019, C4. Targets and Performance
103-2
The management approach and its components
Protecting Our Environment/Supply Chain Sustainability; CDP Climate Change 2019, C2. Risks and Opportunities
308-1
New suppliers that were screened using environmental criteria
100%: environmental sustainability questions are part of MetLife's standard RFP/RFI templates and are also included in the Supplier Onboarding Process.
See also, Supplier Code of Conduct
GRI 400: Social
103-1
Explanation of the material topic and its Boundary
103-2
The management approach and its components
103-3
Evaluation of the management approach
401-1
New employee hires and employee turnover
401-2
Benefits provided to fulltime employees that are not provided to temporary or part-time employees
MetLife provides benefits to all U.S. full-time employees, and these plans/programs are generally available to part-time employees working 20 hours a week or more, but not to contract workers or part-time workers working less than 20 hours a week. These benefits include:
• Medical coverage, includes prescription drug and vision coverage
• Dental coverage
• Short-term and long-term disability coverage
• Company-paid life insurance
• 401(k) plan
• Restricted Stock Units, Performance Shares, and Stock Options, as components of our Long-Term Incentive Award programs for high job-level and higher-paid employees
• Cash balance defined benefit retirement plan
• Healthcare and Dependent Day Care Flexible Spending Accounts
• Commuter Program
• Back-up child-care, elder-care, and college advising program
• Tuition assistance program
• Travel benefits: emergency services, travel accident, and international medical coverage
• Opportunity to earn Wellness Dividend credited toward employee contributions for medical coverage
• Optional employee-paid life insurance (group term life, GVUL,
dependent life, VAD&D insurance)
• Legal Services plan
• Critical Illness Insurance
• Adoption financial assistance
• Surrogacy financial assistance
• Hospital Indemnity Insurance (through 9/30/20)
• Employee Assistance Program
• Financial wellness program
103-1
Explanation of the material topic and its Boundary
103-2
The management approach and its components
103-3
Evaluation of the management approach
404-1
Average hours of training per year per employee
404-2
Programs for upgrading employee skills and transition assistance programs
404-3
Percentage of employees receiving regular performance and career development reviews
103-1
Explanation of the material topic and its Boundary
103-2
The management approach and its components
103-3
Evaluation of the management approach
405-1
Diversity of governance bodies and employees
103-1
Explanation of the material topic and its Boundary
MetLife's Code of Business Ethics
103-2
The management approach and its components
MetLife's Code of Business Ethics
406-1
Incidents of discrimination and corrective actions taken
MetLife is strongly committed to equal employment opportunity and to administering all terms, conditions, and privileges of employment fairly. It has policies broadly prohibiting discrimination and harassment, provides employees with several avenues to submit complaints, and has robust procedures for investigating those complaints and taking appropriate action if warranted. As a Fortune 50 employer with tens of thousands of employees, MetLife receives complaints from time to time which are investigated and, if warranted, corrective action is taken. Employee complaints and actions taken in response are confidential personnel matters.
103-1
Explanation of the material topic and its Boundary
MetLife's Code of Business Ethics
103-2
The management approach and its components
MetLife's Code of Business Ethics
MetLife's Code of Business Ethics
415-1
Political contributions
MetLife forbids political contributions outside the United States without express approval from the Head of International Government Relations. We made no political contributions outside the United States in 2018.
417-3
Incidents of non-compliance concerning marketing communications
2019 10-K pages 306-311
We consider “significant” fines as those listed in our 10-K.
103-1
Explanation of the material topic and its Boundary
103-2
The management approach and its components
418-1
Substantiated complaints concerning breaches of customer privacy and losses of customer data
The number of complaints received is confidential information. MetLife has a long-standing commitment to protect the security, confidentiality, and integrity of personal information, and to comply with all applicable privacy and data protection laws and regulations. To this end, MetLife has a global privacy policy, which establishes enterprisewide minimum standards on the collection, use, and protection of personal information. Like other organizations, MetLife occasionally experiences security breaches, which may be described generally as the unauthorized access, loss, disclosure, or misdirection of personal information. Should one of these incidents occur, MetLife has an incident response team that takes immediate steps to minimize any impact on the subject, follow applicable legal requirements, and investigate and correct the root cause, if needed, to help prevent future incidents. The team includes privacy and security professionals, lawyers, and associates in our lines of business.
419-1
Non-compliance with laws and regulations in the social and economic area
2019 10-K pages 306-311
We consider “significant” fines as those listed in our 10-K.
GRI G4 Sector Disclosures: Financial Services
FS7
Monetary value of products and services designed to deliver a specific social benefit for each business line broken down by purpose
FS8
Monetary value of products and services designed to deliver a specific environmental benefit for each business line broken down by purpose
FS10
Percentage and number of companies held in the institution's portfolio with which the reporting organization has interacted on environmental or social issues
Creating Value as an Investor/Responsible Investments
MIM believes active engagement with company leadership is a key to managing investment risk. Investment analysts frequently interact and engage in discussions with a firm’s senior management throughout the initial due diligence process and as part of the portfolio monitoring process. Ongoing dialogue helps to raise awareness of sustainable business practices.
FS11
Percentage of assets subject to positive and negative environmental or social screening
FS13
Access points in lowpopulated or economically disadvantaged areas by type
In many of our markets, we distribute insurance through partnerships with organizations such as banks, retailers, mobile phone operators, and affinity groups. This is one example of our drive to grow in emerging markets.
FS14
Initiatives to improve access to financial services for disadvantaged people
Ensuring Confidence for Our Customers/Products and Services for Financial Confidence/Supporting financial health around the world; Empowering Our Communities/Skills-Based Volunteerism
MetLife strives to improve access to our products and services for disadvantaged people. In several countries around the world, we work with partners from other industries to reach wider segments of the population. For example, in Colombia we work with an utility company, selling Personal Accident policies door-to-door and by phone for premiums as low as $1.50 per month.