MetLife: Generating Value Through Responsible Investments

As a responsible investor, MetLife maintains a long-term, value-driven perspective through MetLife’s general account (GA) investment portfolio. MetLife’s responsible investments seek to achieve a market financial return while considering social and/or environmental benefits that help create healthier communities and a more sustainable environment to build a more confident future for stakeholders.

These investments focus on the core areas of infrastructure investments, green investments, municipal bonds, affordable housing and impact investments.¹

Examples in this article represent various investments made in 2024 through MetLife’s GA investment portfolio.

INFRASTRUCTURE INVESTMENTS

Supported by MetLife Investment Management, LLC and certain of its affiliates’ (MIM’s) strengths as the largest infrastructure debt investments manager globally by assets under management (AUM)¹, MetLife invests in infrastructure projects that create jobs, support resilient communities and provide economic benefits. These projects could include building or upgrading airports, ports, roads, pipelines, transmission lines and power generation. MetLife's GA investment portfolio includes $23.5 billion of responsible infrastructure AUM².

MetLife’s infrastructure investments work to address global infrastructure needs. MetLife committed $50 million to finance the construction of the Mayakan natural gas pipeline, which aims to bring cheaper natural gas from the U.S. to the Yucatán peninsula in Mexico, an expansion that could help to reactivate economic growth in the region.

MetLife has also invested $101 million in the Champlain Hudson Power Express® (CHPE) project, a 339-mile underground and underwater transmission line that will bring clean, hydropower electricity from Quebec, Canada directly to New York City’s local power grid. Once operational, CHPE is expected to help reduce emissions and provide New Yorkers with a low-cost, renewable energy supply. The project is expected to be completed by spring 2026.

GREEN INVESTMENTS

MetLife invests in companies and projects that are focused on the conservation of natural resources, the production and discovery of alternative energy sources, the implementation of clean air and water projects and other environmentally conscious business practices.

MetLife also invests in the Commercial Property Assessed Clean Energy sector, which finances property improvements such as solar panels, water systems, and heating, ventilation and air-conditioning system upgrades to improve energy and water efficiency or resiliency to climate-related damage.

In Austin, Texas, MetLife provided debt financing for the Austin Proper Hotel, a Leadership in Energy and Environmental Design (LEED) Gold-certified building developed on a former brownfield site, built with locally sourced travertine, energy-efficient LED lighting and a reclaimed irrigation system. The hotel has also earned high walk, transit and bike scores, underscoring its accessibility within the community.

Additionally, MetLife was the lead investor in the Atal Solutions’ Blue Astra Maritime note issuance, which financed the environmentally friendly retrofitting of four second-hand dry bulk vessels. In recognition of their significant sustainability efforts, IJGlobal awarded Atal an ESG Energy Transition Award in 2024.³

MUNICIPAL BONDS

MetLife’s municipal bond investments support infrastructure, education and community services spanning 450 communities in 44 U.S. states and Washington, D.C. The proceeds of these investments can be used to finance or refinance environmental, water and clean energy projects, as well as projects with anticipated positive social outcomes, such as affordable public housing and school building revitalization.

In 2024, MetLife invested $81 million in State Housing Finance Agency bonds issued by the Illinois Housing Development Authority, which has provided more than $27 billion in state, federal and leveraged financing to enable the purchase, development or rehabilitation of more than 327,000 homes and apartments for low- and middle-income households. The spending of the proceeds aligns with the International Capital Market Association’s Social Bond Principles of affordable housing, access to essential services, and socioeconomic advancement and empowerment.

AFFORDABLE HOUSING INVESTMENTS

MetLife invests in high-quality housing projects that seek to build financial health and bring benefits to communities. These housing investments involve partnering with nonprofit organizations that provide rental homes at below-market rents to low-income earners, including teachers, nurses, council workers and the elderly and infirm.

MetLife committed £120 million to Local Space, a U.K. charitable housing association whose purpose is to provide safe, high-quality, temporary accommodation to people experiencing homelessness, with residents averaging an occupation tenure of six years. Local Space also seeks to connect residents with health, education and other support services and resources, alongside housing accommodations.

Read more about MetLife’s responsible investments in our 2024 Sustainability Report.

^{1 Please see the Glossary for additional information on responsible investments.}

^{2 IPE Real Assets (July/August 2024 issue). Based on MIM’s Total AUM as of December, 31, 2023. See Explanatory Note.}

^{23 As of December 31, 2024. At estimated fair value.} 

^{34 Atal Solutions. 
https://www.linkedin.com/posts/atalsolutions_sustainability-energytransition-esg-activity-7253020458030108672-IW7-/. Accessed December 2024.}