Report Highlights Company’s Commitment to Moving Money with Integrity and Connecting People to the Global Economy
June 18, 2019 11:00 AM Eastern Daylight Time
DENVER–(BUSINESS WIRE)–Western Union (NYSE: WU), a global leader in cross-border, cross-currency money movement, today released its inaugural Environmental, Social and Governance (ESG) Report, which details the Company’s achievements for fiscal year 2018 toward its commitment to moving money with integrity and connecting people to the global economy. Creating value for its customers, employees, agents, shareholders and the broader communities in which it operates are top priorities for the Company as it seeks to help build a better global future.
“Western Union’s purpose is to build bridges that connect individuals, nations and economies, and in doing so, create new opportunities for stakeholders across the world. We believe we can be more successful when we operate according to the highest ethical standards, address unmet social needs and promote the well-being of our people, their communities and the environment,” said Hikmet Ersek, President and CEO, Western Union. “This comprehensive account of what we are doing, as a global leader in connecting people and businesses through money movement, makes me proud of the hard work our employees do every day to further this mission.”
The report highlights several areas where the Company is making a global impact:
Connecting people to the global economy: The combination of our retail and digital businesses enables Western Union to be the bridge between offline and online money movement, creating a truly inclusive platform that leaves no one behind. In addition, we stand in support of migrants, refugees and other displaced people, who are important parts of our customer base, our workforce and our communities.
- 25%+ of our customers have sent money for education, based on customer surveys
- 1,800+ NGOs have used Western Union’s NGO GlobalPay to send nearly $6.5 billion, since 2012
Moving money with integrity: We work closely with authorities to help thwart and prosecute fraud, human trafficking, money laundering, drug trafficking, illegal wildlife trade and other criminal activity.
- Participated in more than 1,400 investigations to combat human trafficking since 2013, resulting in hundreds of arrests and the rescue of hundreds of victims
- Invested almost $1 billion into compliance efforts over the past five years
Supporting education and humanitarian relief: In 2018, the Western Union Foundation — sustained by Western Union, its employees, agents and its business partners — helped underserved populations connect to the global economy through the power of education and humanitarian relief efforts. The Western Union Foundation has given nearly $120 million to fund projects to advance education and support humanitarian relief in 137 countries since 2001.
- In 2018, the Western Union Foundation, together with Western Union, was at the forefront of 13 major natural disaster relief efforts, including hurricanes in the United States and flooding in Kerala, India
- In 2018, 84% of our employees contributed financially to the Western Union Foundation, well above the median rate of employee giving, which is 31%
Fostering a culture of ethics and inclusion: We are continually striving to improve diversity and inclusion at Western Union, and these two fundamental principles provide the foundation for our corporate values: globally minded, purpose-driven, trustworthy and respectful. The executive team alone is comprised of leaders born in eight different countries.
- About half our global workforce is women, and 34% of our director-level-and-above positions are held by women and we continue to raise this number
- In 2018, our 11-member board included three ethnically diverse directors and three women
- 50% of our Board’s committees are chaired by women
The Western Union 2018 ESG Report is available at: http://ir.westernunion.com. It is prepared in accordance with the Global Reporting Initiative (GRI) standards.
Western Union: https://corporate.westernunion.com/index.html
About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of March 31, 2019, our network included over 550,000 retail agent locations offering Western Union, Vigo or Orlandi Valuta branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2018, is available in approximately 70 countries, plus additional territories, to move money around the world. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com.