NEW YORK--(BUSINESS WIRE)--MetLife Foundation today announced that it is committing an additional $5 million over the next three years to advance racial equity in the United States. The Foundation will use these funds to promote Black educational and career opportunities, Black business ownership, and racial-justice initiatives.
As part of this commitment, MetLife Foundation will provide immediate support of $1 million to the United Negro College Fund (UNCF) and $250,000 to the NAACP Legal Defense and Educational Fund, Inc. MetLife and MetLife Foundation have partnered with the UNCF since the organization was founded 76 years ago, and the $1 million donation will help finance scholarships at Historically Black Colleges and Universities.
MetLife Foundation’s $5 million pledge will supplement the $10 million in annual contributions it already makes to support diverse communities and racial equity, along with the $100 million in impact investments made by MetLife Investment Management to support diverse communities and small businesses.
In 2019, MetLife joined CEO Action for Diversity & Inclusion, the largest CEO-driven business commitment to advance diversity and inclusion in the workplace.
More recently, MetLife endorsed the COVID-19 5-Point Action Agenda, committing to promote inclusion in the workplace and society; raise awareness of the impact of COVID-19 on vulnerable groups; denounce bias against Pan-Asians and other diverse communities; support frontline workers, COVID-19 victims, and their families; and donate funds to help vulnerable communities and businesses negatively affected by the pandemic.
For more information on MetLife’s commitment to diversity and inclusion, visit: https://www.metlife.com/about-us/global-diversity-inclusion/.
About MetLife Foundation
At MetLife Foundation, we believe financial health belongs to everyone. We bring together bold solutions, deep financial expertise and meaningful grants to build financial health for people and communities that are underserved and aspire for more. We partner with organizations around the world to create financial health solutions and build stronger communities, engaging MetLife employee volunteers to help drive impact. MetLife Foundation was created in 1976 to continue MetLife’s long tradition of corporate contributions and community involvement. Since its founding through the end of 2019, MetLife Foundation provided more than $860 million in grants and $85 million in program-related investments to make a positive impact in the communities where MetLife operates. To date, our financial health work has reached 9.9 million low-income individuals in 42 countries. To learn more about MetLife Foundation, visit www.metlife.org.
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.