Western Union Highlights ESG Progress and Recognitions Received
June 29 2022 - 8:00AM
Business Wire
- Company Releases Annual Environmental, Social and Governance
(ESG) Report
- Focus Continues on Furthering Economic Prosperity, Promoting
the Integrity of Global Money Movement and Advancing Diversity,
Equity and Inclusion (DEI)
The Western Union Company (NYSE: WU) today
released its 2021 Environmental, Social and Governance (ESG)
Report, spotlighting the Company’s ongoing commitment to advancing
its strategy and actions aligned with key ESG priorities.
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the full release here:
https://www.businesswire.com/news/home/20220629005138/en/
Western Union's 2021 ESG report
spotlights the Company’s ongoing commitment to advancing its
strategy and actions aligned with key ESG priorities.(Photo:
Business Wire)
“People are drawn to work for and do business with companies
that make an impact,” said Devin McGranahan, Chief Executive
Officer. “This year’s report shows that Western Union continues to
make solid progress on our ESG journey, which in turn enables us to
effect even more positive change in the communities we serve. I’m
proud to work with colleagues who bring their best every day to
improve the lives of our customers and communities around the
world.”
2021 ESG Highlights
Western Union’s ESG strategy is focused on efforts and areas
where the Company can make meaningful impact, including:
- Furthering economic prosperity: The Company launched a
digital banking platform in Germany and Romania, combining money
transfer, a multi-currency account and debit card. Western Union
believes offering people simple, trusted solutions via digital and
retail access points creates pathways for long-term economic
success.
- Promoting the integrity of money movement: Western Union
also continued progress on our commitment to money movement that is
safe, secure and built on a foundation of integrity. While
third-party data show the rate of fraudulent activity across the
financial industry is increasing, in 2021 our Company’s reported
consumer fraud globally decreased by 10% and we prevented
approximately $1.9 billion in fraudulent transactions. These
efforts were supported by fraud prevention messages that reached
consumers through 121 million consumer fraud touches, a 97%
increase over 2020.1
- Advancing diversity, equity, and inclusion: Another key
area of focus for the Company in 2021 was advancing 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, naming a Chief Diversity and
Talent Officer, a specialized diversity recruiting lead and a
full-time DEI program lead; and
- Achieving gender pay equity globally and racial/ethnicity pay
equity in the US.
This year also marks the first time Western Union has disclosed
our Company’s Scope 1 and 2 greenhouse gas (GHG) emissions.
Increased Recognition
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 related to our 2021
progress, 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
leading global financial network bridges more than 200 countries
and territories and over 130 currencies. We connect consumers,
businesses, financial institutions, and governments through one of
the world’s widest reaching networks, accessing billions of bank
accounts, millions of digital wallets and cards, and a substantial
global network of retail locations. Western Union connects the
world to bring boundless possibilities within reach. For more
information, visit www.westernunion.com.
________________________________
1. Consumer Fraud Awareness Touches are derived from metrics
tracked across various platforms, including paid media ads, social
media (Facebook, Twitter, YouTube, Community Management), outreach
attendees and wu.com/fraudawareness visits. Each platform may have
a unique method for quantifying individuals who have consumed
anti-fraud content, based on reach, impressions, views, visits and/
or received physical materials. Given that consumers may engage
with our content through multiple channels, each “touch” may not be
a unique consumer.
WU-G
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version on businesswire.com: https://www.businesswire.com/news/home/20220629005138/en/
Media Relations: Claire Treacy
Claire.Treacy@westernunion.com Investor Relations: Tom
Hadley WesternUnion.IR@westernunion.com
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