Driven by Purpose: Western Union ESG 2022

Go Global By Western Union Aug 22, 2023

The best companies are driven by more than just making money. At Western Union, we take pride in moving money that pays rent and mortgages, puts food on the table, buys medicine, and fuels the prosperity of families and communities all over the world. 

Our 2022 Environmental, Social and Governance (ESG) Report spotlights Western Union’s ongoing commitment to advance our ‘Evolve 2025’ strategy and our key ESG priorities to better serve our customers and communities. A sample:  

Supporting aspiring populations globally

Western Union’s network offers a broad mix of channels. Our retail and digital network reaches more than 200 countries and territories, serving millions of customers across more than 20,000 corridors or country pairings. This approach enables us to serve a broad range of customers, including those in rural and remote locations, people with difficulties using digital services, those who prefer to transact in cash and the estimated 1.4 billion1 adults worldwide who are unbanked by choice or circumstance. We believe offering people simple, trusted solutions via both digital and retail access points creates pathways for long-term economic success. 

Promoting the integrity of global money movement

Western Union progressed our commitment to helping build a global financial system our customers, partners and communities can trust. While third-party data show the rate of fraudulent activity across the financial industry is increasing, in 2022 our reported consumer fraud globally decreased by 12% and we prevented approximately $1.3 billion in fraudulent transactions. These efforts were supported by fraud prevention education. Throughout 2022, we posted educational information and notifications regarding the war in Ukraine and charity-related fraud, as well as additional fraud types such as companionship, elder and World Cup advanced fee or online purchase scams. In fact, in 2022 we exceeded our consumer fraud-education goal of 300 million anti-fraud consumer touches, achieving 336 million touches. 

Fostering a diverse, equitable and inclusive culture

Another key area of focus for the Company in 2022 was advancing diversity, equity and inclusion (DEI), as we aspire to have a workforce that reflects the customers we serve. In 2022, nearly 92 percent of our candidate slates and 84 percent of interview panels globally were diverse. We also continued to market job
opportunities through partnerships and campaigns with Historically Black Colleges and Universities in the U.S. and online platforms such as DiversityInc and the Minority Corporate Counsel Association. Western Union also piloted a sponsorship program aiming to identify high-performing women and connect them with mentors who can help maximize their potential and growth. Furthermore, we maintained gender pay equity globally and racial/ethnicity pay equity in the U.S. for the third consecutive year. 

As proud as we are of our progress to date, we are always looking for new ways to serve the aspiring populations of the world.

Please read more about what we are doing in our 2022 Environmental, Social and Governance (ESG) Report.