MetLife Investment Management Partnerships With Norges Bank Investment Management & New York State Common Retirement Fund Rec...
24 December 2020 - 7:00AM
Business Wire
GRESB Recognition Places MIM Partnerships in
Top 20 Percent for Environmental, Social and Governance (ESG)
Performance
MetLife Investment Management (MIM), the institutional asset
management business of MetLife, Inc. (NYSE: MET), today announced
that two real estate partnerships with Norges Bank Investment
Management and New York State Common Retirement Fund (“MCPP
portfolio”) have received 5 star ratings from Global Real Estate
Sustainability Benchmark (GRESB), which also recognized the
partnerships as “Sector Leaders”. A third MIM core real estate
portfolio was also recognized with 4 stars.
Each year, GRESB assesses and benchmarks the environmental,
social, and governance (ESG) performance of properties worldwide
and monitors the sector’s progress toward global sustainability
goals. The GRESB 5 Star rating recognizes entities placed in the
top 20 percent of the benchmark. GRESB assessments are guided by
what investors—and the industry—consider to be material issues in
the sustainability performance of real asset investments. These ESG
indicators are aligned with international reporting frameworks such
as the Global Reporting Initiative (GRI) and the Paris Climate
Agreement.
Notably, the partnership with Norges Bank Investment Management
achieved the highest performance score of any entity within the
Americas, while the MCPP portfolio achieved an overall score that
was #5 in comparison to all other entities within the Americas.
“Our commitment to environmental sustainability across our real
estate portfolio reflects our purpose as a company,” said Robert
Merck, senior managing director and global head of Real Estate,
MetLife Investment Management. “We are delighted that our
partnerships with two long-standing clients in Norges Bank
Investment Management and the New York State Common Retirement Fund
have been recognized globally for environmental leadership. We look
forward to working further with each of them to help build a
greener future for the assets, building occupants and communities
that we’re a part of.”
MIM’s commitment to sustainability goals is reflected in its
MetZero™ initiative. The Norges Bank Investment Management, MCPP
and core portfolios are endeavoring to reach carbon neutrality in
the near term. The MetZero program uses a Carbon Cascade™ approach
focused on reducing emissions and while adding on-site renewable
energy and off-site green power procurement.
The GRESB recognition follows the September release of MetLife’s
2030 Environmental Goals, which include MIM’s commitment to
powering all MIM managed and controlled real estate investments
with 100% renewable electricity by 2030. MetLife also pledged to
reduce location-based greenhouse gas (GHG) emissions by 30 percent
from 2019 levels, originate $20 billion in new green investments,
and allocate $5 million to develop products and partnerships that
drive climate solutions. Earlier this year, MetLife issued its
first green funding agreement backed note, and in 2019, MIM became
a signatory to the United Nations-backed Principles for Responsible
Investment. For more information on MetLife’s sustainability
initiatives, please go to metlife.com/sustainability.
About MetLife Investment Management
MetLife Investment Management, the institutional asset management
business of MetLife, Inc. (NYSE: MET), is a global public fixed
income, private capital and real estate investment manager
providing tailored investment solutions to institutional investors
worldwide. MetLife Investment Management provides public and
private pension plans, insurance companies, endowments, funds and
other institutional clients with a range of bespoke investment and
financing solutions that seek to meet a range of long-term
investment objectives and risk-adjusted returns over time. MetLife
Investment Management has over 150 years of investment experience
and as of September 30, 2020, had $651.1 billion in total assets
under management.1 For more information, visit
https://investments.metlife.com.
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 its individual and institutional customers navigate their
changing world. 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.
Forward-Looking Statements The
forward-looking statements in this news release, such as “expect,”
“will,” and “continue” 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20201223005484/en/
James Murphy (917) 225-6303 james.p.murphy@metlife.com
MetLife (NYSE:MET)
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