MetLife becomes first US life insurer to join UN Global Compact

Written by Adam Cadle

23/06/2020

MetLife has become the first US-based life insurer to join the United Nations Global Compact, the world’s largest corporate sustainability initiative.

The UN Global Compact calls for companies to align their operations and strategies with 10 universal principles in the areas of human rights, labour, the environment, and anti-corruption.

Sustainability is central to MetLife’s efforts to build a more confident future for all our stakeholders,” MetLife President and CEO Michel Khalaf said.

“Joining the UN Global Compact will help us strengthen our commitment in the years ahead.”

The mandate of the UN Global Compact is to guide and support the global business community in advancing UN goals and values through responsible corporate practices. The 10 principles of the Global Compact are:

Human Rights

Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
Principle 2: make sure that they are not complicit in human rights abuses.

Labour

Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Principle 4: the elimination of all forms of forced and compulsory labour;
Principle 5: the effective abolition of child labour; and
Principle 6: the elimination of discrimination in respect of employment and occupation.

The Environment

Principle 7: Businesses should support a precautionary approach to environmental challenges;
Principle 8: undertake initiatives to promote greater environmental responsibility; and
Principle 9: encourage the development and diffusion of environmentally friendly technologies.

Anti-Corruption

Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.

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