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Sustainable Finance Disclosure

 

At MetLife, we’ve been in the business of making and keeping promises for more than 150 years. We’re always there for our employees, customers, shareholders, and communities — navigating life and change together, finding purpose every day while laying the foundation for a more confident future. A future where our families and finances are protected. A future that’s exciting and full of potential. A future that’s inclusive and sustainable. Our sustainability strategy is built to pursue a confident future with bold goals and partnerships that target systematic change.

MetLife Europe d.a.c. (“MetLife”)

Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability‐related disclosures in the financial services sector (the “Sustainable Finance Disclosure Regulation”)

This statement relates to the MetLife Investment Bond Portfolio International offered by MetLife in the UK (the “Offshore Bond”). No other MetLife UK product is within the scope of the Sustainable Finance Disclosure Regulation.

The MetLife group has put in place a number of policies in relation to ESG matters and sustainable finance. MetLife Investment Management, the MetLife group’s investment management platform, which manages certain investment assets on behalf of MetLife and the holders of its endowment policies, has published an ESG Investment Policy (available at https://investments.metlife.com/about/esg-integration/). For the MetLife group’s most recent Sustainability Report, please see https://sustainabilityreport.metlife.com/report/.

However, MetLife did not integrate sustainability risks into its investment decision making process nor did it consider the adverse impacts of investment decisions on sustainability factors in respect of the Offshore Bond.

This is principally due to the fact that the Offshore Bond was offered by MetLife some years prior to the Sustainable Finance Disclosure Regulation coming into force. MetLife no longer offers the Offshore Bond or other insurance-based investment products (“IBIPs”) in the UK and has no future plans to do so. If these circumstances change, MetLife will consider modifications to its investment process to include sustainability risks and consideration of the adverse impacts of investment decisions on sustainability factors in relation to any future IBIPs.

MetLife has a remuneration policy which complies with the requirements of Article 275 of Regulation 2015/35/EU (the “Solvency II Delegated Regulation”). However, MetLife’s remuneration policy does not currently include information on how it is consistent with the integration of sustainability risks, as sustainability risks have not been integrated into MetLife’s investment decision making process for the Offshore Bond to date, for the reasons set out above.

For more information on how MetLife is complying with the EU’s new Sustainable Finance Disclosure Regulation (SFDR), please review our sustainability-related disclosures here.