- The company publishes its annual report on the environment, social and governance (ESG)
- Continued focus on economic prosperity, promoting the integrity of the global monetary movement, and promoting diversity, equity, and inclusion (DEI)
The Western Union Company (NYSE: WU) today released its 2021 Environmental, Social and Governance (ESG) Report, highlighting the company’s continued commitment to advancing its strategy and actions aligned with key ESG priorities.
This press release is multimedia. View the full press release here: https://www.businesswire.com/news/home/20220629005138/en/
Western Union’s 2021 ESG Report highlights the company’s continued commitment to advancing its strategy and actions aligned with key ESG priorities. (Photo: BusinessWire)
“People are drawn to working and doing business with companies that have an impact,” said Devin McGranahan, chief executive. which in turn enables us to make even more positive changes in the communities we serve. I am proud to work with colleagues who do their best every day to improve the lives of our customers and our communities through the world.”
2021 ESG Highlights
Western Union’s ESG strategy focuses on efforts and areas where the company can have a significant impact, including:
- Fostering Economic Prosperity: The Company launched a digital banking platform in Germany and Romania, combining money transfer, multi-currency account and debit card. Western Union believes that providing people with simple, reliable solutions through digital and retail hotspots sets the stage for long-term economic success.
- Promote the integrity of money movements: Western Union also continued to make progress in its commitment to safe, secure and integrity-based money movement. While third-party data shows the rate of fraudulent activity in the financial industry is increasing, in 2021 consumer fraud reported by our company decreased by 10% globally and we avoided approximately 1.9 billion dollars from fraudulent transactions. These efforts were supported by fraud prevention messages that reached consumers via 121 million fraudulent contacts, a 97% increase from 2020.1
- Advancing Diversity, Equity and Inclusion: Another key area of focus for the Company in 2021 was promoting diversity, equity and inclusion (DEI). In 2021, Western Union developed a DEI strategy focused on hiring, development, promotion, retention, and cultural change. DEI milestones include:
- A newly formed DEI Program Office, appointing a Director of Diversity and Talent, a Diversity Recruitment Officer and a full-time DEI Program Officer; and
- Achieving gender pay equity globally and racial/ethnic pay equity in the United States.
This year also marks the first time Western Union has disclosed our company’s Scope 1 and 2 greenhouse gas (GHG) emissions.
The Company also reported recognitions for its ESG efforts, including:
- Recognized as one of the World’s Most Ethical Companies® for the first time;
- Bloomberg’s Gender Equality Index for the third consecutive year;
- JUST Capital’s Top 100 Companies Supporting Healthy Families and Communities; and
- Human Rights Campaign’s Best Place to Work for LGBTQ+ Equality.
For more information and additional details on our progress in 2021, and to download Western Union’s 2021 Environmental, Social and Governance (ESG) Report, click here.
About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Western Union’s platform provides seamless cross-border flows and its world-class global financial network connects more than 200 countries and territories and more than 130 currencies. We connect consumers, businesses, financial institutions and governments through one of the most extensive networks in the world, accessing billions of bank accounts, millions of digital wallets and cards and a vast global network of points of sale. Western Union connects the world to bring unlimited possibilities at your fingertips. For more information, visit www.westernunion.com.
1. Consumer Fraud Awareness Keys are derived from metrics tracked across various platforms, including paid ads, social media (Facebook, Twitter, YouTube, Community Management), awareness attendees, and wu visits .com/fraudwareness. Each platform may have a unique method for quantifying individuals who have consumed anti-fraud content, based on reach, impressions, views, visits, and/or physical material received. Because consumers can interact with our content through multiple channels, each “touch” may not be a single consumer.