Corporate Responsibility Is In Our Brand DNA
Corporate responsibility is a business strategy that shapes how we operate on a daily basis. At Western Union, we believe can be more successful as a company when we operate according to the highest ethical standards, address unmet social needs and promote the wellbeing of our consumers, their communities and the environment.
Our corporate responsibility team focuses on environmental, social and governance (ESG) issues, helping to shape policies and practices around our core operations and our community commitment. They also help to drive shared value, identifying opportunities for innovative products and services that contribute to our financial strength as a company, as well as the financial strength of the people we serve.
Western Union products and services meet the needs of people in under-served markets — and we work to scale those innovations across our global footprint, reaching the so-called next five billion — those who choose Western Union to pay their bills, send prepaid gift cards to their relatives, or transfer money between bank accounts. We aim to help people everywhere move a little further up the economic ladder by seizing the opportunities that come from getting money where it needs to be, just when it needs to be there.
A Chinese exchange student in Vancouver receives money sent to her through Western Union from her parents in Beijing. She uses it to buy used books for the new semester — there were still some left in the bookstore. She has a little money left over so uses it to buy a cup of the best coffee in town from the café down the street from her dorm.
The Canadian café owner uses Western Union too. She uses Western Union Business Solutions because of the 24/7 online access, real-time rate quotes and the ability for her small business to trade in different foreign currencies. These services make it easy for her to purchase fair trade coffee beans directly from a coffee bean exporter in Kenya.
The Kenyan exporter also uses Western Union. Once he makes a sale, he sends some of the money to his mom using the Western Union Mobile Money Transfer service. She lives in a remote Kenyan village and by receiving the money on her mobile phone, no longer needs to travel two hours to pick up the funds. She can also use her phone to purchase goods at a local shop, providing much needed business for the local shopkeeper.
The shopkeeper uses Western Union services as well. To purchase more items for his shop, he uses Western Union to send some of the money he earns to his supplier. That supplier just happens to be located in China.
Through our role in this virtuous cycle, the global economy continues to grow.
In this way, Western Union addresses a major development challenge — universal access to flexible, reliable financial services — while generating tremendous value for the shareholders who have entrusted us with their hard-earned savings. For us, that’s at the heart of a 160-year tradition of corporate responsibility. And, it’s what it means to be a leader and a mission-driven brand.