MetLife Investment Management’s Joint Ventures With Norges Bank Investment Management and New York State Common Retirement Fund Once Again Achieve 5 Star Ratings From GRESB Assessment

GRESB Recognition Places MIM Partnerships in Top 20 Percent for ESG Performance for Second Consecutive Year

WHIPPANY, N.J.--(BUSINESS WIRE)--
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 have achieved 5 star ratings from Global Real Estate Sustainability Benchmark (GRESB), which also recognized the partnerships as “Sector Leaders” for the second consecutive year. In addition, a third MIM core real estate property portfolio once again received a 4 star rating.

GRESB issues an annual assessment benchmarking properties’ performance in achieving environmental, social and governance (ESG) goals, and compares each sector’s progress in achieving global sustainability standards. The top 20 percent within each sector of the benchmark receives the 5 star rating.

“Receiving multiple GRESB recognitions for another consecutive year reflects our company’s dedication to prioritizing responsible investing across our real estate portfolio,” said Jim Landau, head of environmental, social and governance for the Real Estate & Agricultural Finance team at MetLife Investment Management. “We are excited to continue our established partnerships with Norges Bank Investment Management and the New York State Common Retirement Fund, which are committed to meeting the highest ESG standards and helping our communities transition to a more sustainable world.”

MIM is dedicated to reaching sustainability targets through deployment of its MetZero™ initiative and seeks carbon neutrality in the near term using a Carbon Cascade™ approach, which prioritizes energy efficiency and on-site and off-site renewables, and then utilizes the purchase of renewable energy credits (RECs) and offsets.

MIM outlined its commitment to powering all MIM managed and controlled real estate investments with 100% renewable electricity by 2030 as part of MetLife’s 2030 Environmental Goals. In 2021, MetLife earned ENERGY STAR Sustained Excellence Award from the U.S. Environmental Protection Agency (EPA), the highest honor bestowed by the ENERGY STAR program. Along with the Department of Energy’s Better Building’s Challenge, of which MIM is a signatory, these programs recognize industry leaders that have made a long-term commitment to fighting climate change and protecting public health through energy efficiency. MetLife has also pledged to reduce location-based greenhouse gas (GHG) emissions by 30 percent from 2019 to 2030, originate $20 billion in new green investments, and allocate $5 million to develop products and partnerships that drive climate solutions. 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 June 30, 2021, had $666.7 billion in total assets under management.¹

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.

¹ Total assets under management is comprised of all MetLife general account and separate account assets and unaffiliated/third party assets, at estimated fair value, managed by MIM.

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Source: MetLife, Inc.