MetLife and its commitment to inclusive economic mobility
Through a strategy, the MetLife Foundation seeks to address the needs of underrepresented families around the world.
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To address the economic, social, and environmental issues affecting vulnerable families around the world, the MetLife Foundation announced the launch of a strategy to drive inclusive economic mobility.
The initiative is underpinned by MetLife's 2030 Diversity, Equity and Inclusion Commitments, through which the Foundation committed $150 million in funding and 800,000 volunteer hours from MetLife employees in support of historically marginalized communities.
For 154 years, MetLife has made a positive impact on the communities we serve by creating financial security and using the breadth of our resources to address pressing social and economic issues.
Thanks to this important effort, both in the disbursement of resources, and in volunteer work, which includes skills-based pro bono projects that harness the talent of MetLife employees to expand the capacity of nonprofit organizations, in 2021, more than 25,000 MetLife employees volunteered more than 61,000 hours in 37 countries.
Today, MetLife Foundation announces a new strategy to address the needs of underserved and underrepresented communities around the globe through grants, impact investments, employee-driven volunteering. Learn more about this work at https://t.co/7gibT3JHXN pic.twitter.com/GXUFvnLXcX— MetLife (@MetLife) July 19, 2022
MetLife Foundation’s impact investments and grantmaking will align with the UN Sustainable Development Goals through 3 main streams:
- Economic Inclusion: Upskilling and reskilling talent to be competitive in a new economy
- Financial Health: Enabling budget management, savings, and access to credit and benefits as part of a broader wealth-building strategy
- Resilient Communities: Expanding access to wellness resources, as well as supporting a more resilient planet through climate-focused grants
“With the updated focus of MetLife Foundation, we aim to further drive a more equitable and confident future for vulnerable and historically marginalized communities around the world,” noted Zarcone.
As part of this strategic shift, the MetLife Foundation announced the first recipients of grants for a sum greater than $25 million. These are the selected ones:
- A grant to digitalundivided to help Black and Latina women create, launch and grow their enterprises.
- An expanded relationship with Girls Who Code to increase inclusion of girls, women and nonbinary individuals in the tech talent pipeline by launching a new mentoring platform and embedding financial education in its curriculum.
- Renewed support for Living Cities for the Closing the Gaps network to address the racial wealth gap in the U.S.
- A new collaboration with the National Disability Institute to support the financial health and well-being of Black, Latinx and small- and medium-size business owners with disabilities.
- A new relationship with Planet Water Foundation to bring access to clean, safe drinking water to communities in six states across Mexico.
- A collaboration with Village Capital to launch the ADAPT: Social Innovation for a More Resilient Future accelerator program, which will identify and elevate next-generation innovations that address financial well-being and career mobility, as well as create environmental resilience.
- A new relationship with Vision to Learn to reach more than 200,000 low-income young people with critical eye care.
- An expanded relationship with Women's World Banking to increase access to financial services for low-income women and women entrepreneurs in India.
"By combining MetLife’s talent with MetLife Foundation’s philanthropic investments, we can amplify our impact by leveraging the time, expertise and passion of MetLife employees to be a force multiplier in communities around the world," said Tia Hodges, President and CEO of MetLife Foundation and Head of Corporate Giving and Employee Volunteerism, at MetLife.
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About MetLife Foundation
MetLife Foundation, established in 1976, is an organization committed to advancing inclusive economic mobility in underrepresented and marginalized communities around the world. It works hand-in-hand with nonprofit organizations and offers grants aligned to 3 strategic focus areas: Economic Inclusion, Financial Health, and Resilient Communities.
It stands out especially for volunteer programs that involve its employees to help promote social initiatives. The MetLife Foundation has contributed more than $900 million to strengthen the communities where the company has a presence.