Western Union Releases 2020 Environmental, Social and Governance (ESG) Report
Third Annual ESG Report Details Company’s Focus on Furthering Economic Prosperity, Promoting the Integrity of
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2020 Environmental, Social & Governance Report (Graphic: Business Wire)
“2020 reinforced the importance of collective action to address global challenges,” said
2020 ESG Highlights
The report outlines the company’s efforts to connect people and businesses globally, foster an inclusive workplace, move money with integrity, uphold strong governance, safeguard our shared environment, and provide training, education and crisis relief through the
- Cross-border money movement: Enabling nearly 150 million customers in more than 200 countries and territories to send and receive funds in more than 130 currencies, to and from almost anywhere, as the global pandemic raged.
- Support for migrants: Continuing to support migrant, refugee and other vulnerable populations through monetary and other support to organizations focused on these groups, raising awareness and funding critical research.
Fraud prevention: Preventing
$1.4 billionof fraudulent transactions, with the lowest annual dollar-value payout reported as fraud since Western Unionbegan tracking consumer fraud claims in 2005.
- Board diversity: Actively ensuring diversity at Board level - as of 2020, 45% of the company’s 11 Board members were female and/or identified as Latinx, Asian or LGBTQ+.
- Human rights: Identifying and prioritizing the company’s human rights impacts, and releasing a Human Rights Statement guided by internationally recognized standards.
Western Union Foundation: Enabling the Western Union Foundationto reach more than 200,000 people through workforce skilling and support for resilience in crises.
Western Union’s ESG Strategy and Goals
The company also set forth the following goals to continue advancing its ESG priorities:
Maintain gender pay equity globally and racial/ethnic pay equity in the
- Increase gender diversity in leadership, achieving at least 40% women in senior management positions by 2025.
Increase racial and ethnic diversity among employees, including reaching at least 25% Latinx and Black employees in the
Conduct more than 300,000 partner engagements, such as compliance program reviews or trainings, with
Western Unionpartners globally to continue building capacity within the financial system to detect and prevent illicit activity, by 2025.
- Reach approximately 300 million consumers and clients to promote fraud awareness and education by 2025.
Safe Harbor Compliance Statement for Forward-Looking Statements
This press release contains certain statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements are not historical facts or guarantees of future outcomes, but rather are based on current expectations, estimates, assumptions, and projections, and include statements regarding our goals, commitments, programs, and other plans and objectives. Words such as “expects,” “intends,” “targets,” “goals,” “anticipates,” “believes,” “estimates,” “aims,” “plans,” “strives,” and other similar expressions or future or conditional verbs such as “may,” “will,” “should,” “would,” “could,” and “might” are intended to identify such forward-looking statements. Our actual outcomes and results may differ materially from those expressed in, or implied by, our forward-looking statements based on changes in circumstances, assumptions not being realized, or other risks, uncertainties, and factors. Such risks, uncertainties, and factors include, but are not limited to, those discussed in the Risk Factors section throughout our Annual Report on Form 10-K for the year ended
Western Union Investor Relations: