DENVER-Thursday 25 June 2020 [ AETOS Wire ]
(BUSINESS WIRE) -- Western Union (NYSE:
WU), a global leader in cross-border, cross-currency money movement and
payments, today released its second annual Environmental, Social and
Governance (ESG) Report, which spotlights the Company’s 2019 ESG
progress. The report also highlights Western Union’s response and
ongoing initiatives surrounding the COVID-19 pandemic and social justice
movements across the globe in early 2020.
“Today,
against the backdrop of COVID-19 and global protests against social
injustice, business’s role in building a more united future has never
seemed more relevant – or more urgent. Serving our stakeholders in
today’s world takes determination and innovation. It demands that we
build unity through ingenuity to create new, lasting solutions for
people, businesses, and societies,” said Hikmet Ersek, President and
CEO, Western Union. “This report provides an update on Western Union’s
ESG efforts, and how we are addressing some of the most pressing global
issues facing society, our shared environment, and our Company.”
The report highlights six key areas where Western Union is making an impact globally:
Connecting people and businesses to the global economy: Our
services connect people and businesses pursuing global opportunities –
for example, individuals looking to better the lives of their families,
and businesses looking for new partners, customers, and markets. The
transactions we process build bridges across economies, geographies, and
cultures.
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In response
to COVID-19, Western Union doubled down on its commitment to serve
customers with a range of new offerings and resources including piloting
home delivery of money transfers, introducing “digital location” concierge services to
offer personalized phone or video support to help customers make
digital money transfers, expanding westernunion.com to five additional
countries bringing the total to more than 75, and expanding real-time
account and wallet payout to 50 countries.
Fostering an engaging and inclusive workplace: Western
Union works to build and support a workforce that reflects the global
diversity of the 150 million customers we serve in more than 200
countries and territories around the world. It starts at the most senior
levels of our business and manifests itself throughout our Board of
Directors and our global workforce. We are actively engaging in open and
honest dialogue with our employees and we are committed to playing a
role in the fight for positive change globally. 2019 highlights include:
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Reaching
gender parity with our customers and employees: approximately half of
our customers and half of our global workforce are women.
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Our
executive team in 2019 was comprised of 40% women and includes leaders
born in 10 different countries who have wide-ranging global leadership
experience.
Moving money with integrity: We
are committed to using the right combination of people and technology
to protect our customers and partners, keep illicit activity out of our
network, and ensure we conduct our business with integrity.
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In 2019, we
prevented $1.1 billion in fraudulent transactions. Overall industry
data suggests a growing rate of fraudulent activity. Western Union’s
fraud levels, however, are trending downward.
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Our
Financial Intelligence Unit continues to partner with law enforcement
and nonprofit entities to better target and disrupt human trafficking
financial flows. This team has conducted approximately 1,800 human
trafficking investigations since 2013, resulting in hundreds of arrests
and the rescue of hundreds of victims.
Governing and managing for success: Western
Union’s governance structures and practices provide oversight and
guidance around critical issues, including ethics, board diversity,
executive compensation, fair competition, data privacy, and
cybersecurity, and board diversity. 2019 highlights include:
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Our Board is comprised of a wide range of nationalities from around the world.
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Three of our 11 Board members were women.
Safeguarding our shared environment: We are committed to acting responsibly to respect the environment and minimize our footprint.
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25% of building materials, by value, are made of recycled materials at our global headquarters.
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We have
equipped our major offices with state-of-the-art video conferencing
technology, which reduced the need for air travel between locations,
even prior to COVID-19.
Catalyzing change through the Western Union Foundation: The
Western Union Foundation works to provide vulnerable youth with the
skills needed to succeed in today’s global digital economy, and to
support people across the globe through humanitarian relief.
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In 2019,
the Western Union Foundation launched Opportunity Beyond Borders, a
three-year and $15-million commitment to provide vulnerable youth with
the skills and training needed to succeed in today’s global digital
economy.
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As the impact of COVID-19 spread across the globe, Western Union and the Western Union Foundation announced a global matching challenge,
with a total commitment of $1.3 million in customer, corporate,
employee, and agent donations towards the global fight against the
virus.
WU-G
About Western Union
The
Western Union Company (NYSE: WU) is a global leader in cross-border,
cross-currency money movement and payments. 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, 2020, our network
included over 550,000 retail agent locations offering our 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 2019, is available in over 75 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.
Contacts
Western Union Contacts
Investor Relations:
Brendan Metrano; Brendan.metrano@wu.com
+1(720) 332-8089
Media Relations:
Western Union Global Communications
Rachel Rogala; Rachel.Rogala@wu.com
+ 1 (303) 808-2674
Pia De Lima; Pia.DeLima@wu.com
+1 (954) 260-5732
Western Union Americas
Margaret Fogarty; Margaret.Fogarty@wu.com
Western Union Middle East & Africa
Mohamed El Khalouki; Mohamed.ElKhalouki@wu.com
Western Union Asia-Pacific
Karen Santos; Karen.Santos2@wu.com
