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
WHIPPANY, N.J., November 08, 2021
GRESB Recognition Places MIM Partnerships in Top 20 Percent for ESG Performance for Second Consecutive Year
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.
Metlife Inc. published this content on 08 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2021 21:31:04 UTC.