METLIFE, INC. | Congruency report of partnerships with Globalist Organisations at METLIFE, INC.

Status
Omitted
AGM date
Resolution details
Company ticker
MET
Lead filer
Bahnsen Family Trust
Resolution ask
Report on or disclose
ESG theme
  • Governance
ESG sub-theme
  • Other
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Financials
Company HQ country
United States
Resolved clause
This resolution was omitted. For more information, access: https://www.sec.gov/files/corpfin/no-action/14a-8/bahnsenmetlife042423-14a8.pdf

Resolved: Shareholders ask that the Board of Directors of MetLife, Inc. (the “Company”) conduct an evaluation and issue a report within the next year, at reasonable cost and excluding proprietary information and disclosure of anything that would constitute an admission of pending litigation, on the risks created by Company business practices that prioritize non-pecuniary factors when it comes to establishing, rejecting, or failing to continue business relationships
Supporting statement
Supporting Statement: MetLife has a history of excluding certain stakeholders based on social/political criteria. For example, the company excluded the NRA from its bulk discount buying relationship. 1 Furthermore, the company excludes from its investment portfolio certain asset classes, including manufacturers of broad classes of firearms sold to the public; manufacturers of certain arms sold to the military; and various businesses involved with the extraction of coal, and extraction from oil sands.2 When asked, MetLife provided no financial analysis to demonstrate these exclusions were likely to benefit the investment returns of the portfolio.3 We ask that the board commission and disclose a report on the risks created by Company business practices that prioritize factors other than pecuniary advantage when it comes to establishing, rejecting, or failing to continue business relationships such as portfolio construction and discount programs with membership organizations. Excluding customers and investments based on political, religious, or any other opinion or characteristic other than pecuniary advantage places the company at great reputational, financial, legislative, and related risk. The Company seeks permission from the Staff to exclude the Proposal under Rule 14a8(i)(7) as a proposal relating to ordinary business operations. The Company bears the burden of demonstrating it is entitled to exclude the Proposal. See Rule 14a-8(g).

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