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,” said MetLife President and CEO Michel Khalaf. “Joining the U.N. Global Compact will help us strengthen our commitment in the years ahead.”
The mandate of the U.N. Global Compact is to support the global business community in advancing UN goals through responsible corporate practices.
In terms of human rights principles, the UN Global Compact encourages businesses to support and protection of internationally proclaimed rights and make sure that they are not complicit in human rights abuses.
For labour, businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining, the elimination of all forms of forced and compulsory labour, the abolition of child labour, and the elimination of discrimination in respect of employment and occupation.
And for the environment, the Global Compact says businesses should support a precautionary approach to environmental challenges, undertake initiatives to promote greater environmental responsibility, and encourage the development and diffusion of environmentally friendly technologies.
Finally, members are asked to work against corruption in all its forms, including extortion and bribery.