MassMutual to incorporate responsible practices into its investment strategy for the benefit of the environment, policyowners and society
SPRINGFIELD, Mass., and BOSTON, February 18, 2021 – Massachusetts Mutual Life Insurance Company (MassMutual) today announced that it has become a signatory of the United Nations-supported Principles for Responsible Investment (PRI), an international global network of asset managers, owners and service providers working together to put responsible investment into practice.
As a signatory, MassMutual has committed to integrate the PRI’s six investment Principles - which incorporate environmental, social and governance (ESG) factors - into investment decision making and ownership practices. PRI signatories must report on their responsible investment activities annually beginning a year after joining the network. Barings LLC, MassMutual’s global asset management subsidiary and the primary investment adviser for the company’s General Investment Account, has been a signatory since 2014.
MassMutual, a leading life insurance company, has operated since 1851 with a singular purpose: helping people secure their future and protect the ones they love. Tim Corbett, Chief Investment Officer at MassMutual, added on joining Barings, long-time PRI signatory and primary General Investment Account manager, “We believe signing onto the PRI reinforces our current practice of incorporating ESG factors into our investment decisions and demonstrates our ongoing commitment to achieving positive ESG outcomes as well as delivering long-term value to our policyowners, employees, communities and society at large.”
“We are very pleased to welcome MassMutual as a PRI signatory,” said Fiona Reynolds, CEO of PRI. “The insurance sector is increasingly recognizing the importance of incorporating ESG factors in investment and ownership decisions. Addressing ESG as an enterprise creates opportunities beyond just good corporate citizenship; it allows businesses to achieve longer sustainable returns in their portfolios, ultimately benefitting customers, employees and communities.”
MassMutual’s investment philosophy, including a strategy built on diversification, judicious selection and value, is available here.