News Releases
MILWAUKEE, April 17, 2024 /PRNewswire/ -- Northwestern Mutual, a leading financial services company, today announced the release of its 2023 Sustainability and Social Impact Report: A Better Tomorrow. The report shares details on the 167-year-old company's investments in five key areas: delivering financial security and expanding financial access, investing in communities, strengthening a culture of belonging, reducing environmental impact and earning trust through corporate governance and accountability.
"Our sustainability and social impact actions demonstrate our commitment to progress over pledges," said Grady Crosby, vice president, chief sustainability and impact officer, Northwestern Mutual. "In 2023, we continued to expand our ambition to meet the changing needs of our stakeholders by investing in a broad range of initiatives, technologies and solutions that support a better tomorrow for all."
Impactful commitments and growth metrics notated in the report include:
- Delivering financial security and expanding financial access: Driven by its mission to improve lives through financial security, the company increased its Impact Investment Fund to $175M to expand access to capital for entrepreneurs in underserved communities; and continued efforts through Northwestern Mutual Future Ventures to reach $20M goal each for investing in women and African American/Black entrepreneurs
- Investing in communities and causes: $3.5M dedicated to help residents in underserved communities become homeowners in Milwaukee, $60M+ invested in Milwaukee-area students over 25+ years and $50M+ donated since 2012 to support the search for better treatments and cures for childhood cancer through the Northwestern Mutual Foundation
- Strengthening a culture of belonging: Over one-third of employees participate in employee resources groups, 83% employees say their managers understand their professional goals, and 30% of corporate employees are people of color—the highest percentage in company history
- Reducing environmental impact: 75% of construction waste from the company's updated North Office Building to be diverted from landfills and 40%+ of corporate office space is LEED Gold certified
Northwestern Mutual is committed to driving positive, lasting outcomes for generations to come. The company's full report can be downloaded here.
About Northwestern Mutual
Northwestern Mutual has been helping people and businesses achieve financial security for more than 165 years. Through a comprehensive planning approach, Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience and industry-leading products to help its clients plan for what's most important. With over $627 billion of total assets being managed across the company's institutional portfolio as well as retail investment client portfolios, more than $36 billion in revenues, and $2.3 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than five million people with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. Northwestern Mutual ranked 111 on the 2023 FORTUNE 500 and was recognized by FORTUNE® as one of the "World's Most Admired" life insurance companies in 2024.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (investment brokerage services), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (investment advisory and services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance). Not all Northwestern Mutual representatives are advisors. Only those representatives with "Advisor" in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services.
SOURCE Northwestern Mutual