MetLife Sustainable Financing Framework

MetLife’s Sustainable Financing Framework (Framework) facilitates alignment of our business and investment activities to generate long-term value for our investment portfolio, shareholders and other stakeholders. The Framework guides our issuances of green, social and sustainable bonds, term loans, preferred stock, subordinated notes and funding agreements by MetLife, Inc. and its subsidiaries, including Metropolitan Life Insurance Company and Metropolitan Tower Life Insurance Company.

MetLife’s Sustainable Financing Council, comprising members from the Office of the Chief Investment Officer, Corporate Treasury and Global Sustainability function, meets regularly and is responsible for the review and selection of eligible assets under the Framework. Eligible assets are subject to a review consistent with MetLife’s policies, including MIM's Sustainable Investment Policy.

As part of the Framework, MetLife has committed to publishing an annual Sustainable Financing Report, which includes a summary of outstanding MetLife Sustainable Financing issuances, including issuance date, size, maturity date, currency and format. See below for annual Sustainable Financing Reports and second party opinion reviews.

Related Issuances

In 2020, Metropolitan Life Insurance Company issued a $750 million green funding agreement under the Framework, securing the U.S. insurance industry’s first green funding agreement-backed note issued by Metropolitan Life Global Funding I, and in 2022, Metropolitan Life Insurance Company issued a $500 million sustainability-focused funding agreement under the Framework. An amount equal to the net proceeds from the issuances has been allocated to investments in a variety of green initiatives, including those associated with renewable energy, green buildings and environmentally sustainable management of living natural resources and land use, and to social initiatives in affordable housing.

In 2021, MetLife Short Term Funding LLC issued $40 million of a new green funding agreement-backed commercial paper series as part of our diverse funding platform and in alignment with our Framework. After securing the U.S. insurance industry’s first green funding agreement-backed note in 2020, we’ve developed another form of green financing that supports our purpose and aligns with strong demand for sustainable debt offerings.

Sustainable Financing Framework and the UN Sustainable Development Goals

In alignment with several of the UN Sustainable Development Goals (SDGs),¹ MetLife’s Sustainable Financing Framework lays out eligibility criteria for an asset to be considered for inclusion. Aligned SDGs include:

 Goal #3: Good Health and Well-Being

• Investments that enhance access to public, not-for-profit, free or subsidized essential services

Goal #4: Quality Education

• Investments that include infrastructure for the provision of child, youth or adult education and vocational training services

Goal #6: Clean Water and Sanitation

• Sustainable water and wastewater management

Goal #7: Affordable and Clean Energy

• Renewable energy
• Energy efficiency

Goal #11: Sustainable Cities and Communities

• Green buildings
• Clean transportation
• Pollution prevention and control
• Affordable housing

Goal #12: Responsible Consumption and Production

• Sustainable water and wastewater management
• Pollution prevention and control

Goal #13: Climate Action

• Investments that enhance ecosystem protection or restoration
• Renewable energy
• Infrastructure for flood prevention, flood defense or storm-water management

Goal #15: Life on Land

• Environmentally sustainable management of living natural resources and land use