Insurance and financial services company MetLife announced today a series of diversity, equity and inclusion (DEI) commitments, including investments and expenditures of more than $2.5 billion in areas including spending with diverse suppliers and advancing diverse-owned firms.

Michel Khalaf, MetLife President and CEO, said:

“MetLife’s purpose calls on us to build a more inclusive and equitable world for all our stakeholders. The breadth of these commitments demonstrates that we are significantly advancing our DEI efforts on every front. Setting clear expectations for our progress will hold us accountable and sustain our momentum.”

The new initiatives include plans to originate $1 billion in investments that advance businesses owned by women, minorities, and disabled people, reach $5 billion in spend with diverse suppliers, and support research that advances understanding of DEI issues.

In its own business, Metlife committed to continue to advance workforce diversity, and enhance the transparency of the link between top quartile positioning and executive leadership performance.

Metlife also pledged $150 million in funding to support underserved and underrepresented communities and is planning to commit 800,000 employee volunteer hours with a focus on DEI/underserved communities. Additionally, Metlife aims to provide solutions, including partnerships with experts to provide educational content through the company’s digital financial wellness app.

Dr. Cindy Pace, MetLife Global Diversity, Equity, and Inclusion Officer, said:

“Every MetLife employee plays an important role in achieving our DEI objectives. By embedding these commitments directly into the work our teams do each day, we’re able to tap into fresh ideas and expertise that will have a meaningful impact on the diverse customers and communities we serve.”