Wise plc
Climate Impact & Sustainability Data (2022, 2023)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:667.6 tCO₂e (2021)
Scope 1 Emissions:107.2 tCO₂e (2021)
Scope 2 Emissions:560.4 tCO₂e (2021)
Renewable Energy Share:100% (offices)
Total Energy Consumption:1,682,518 kWh (2021)
Carbon Intensity:1.54 tCO₂e per £ million of revenue (2021)
ESG Focus Areas
- Climate Change
- Diversity, Equity & Inclusion
- Ethical Business Practices
- Community Investment
- Social Impact
Environmental Achievements
- Carbon neutral since 2020
- Clean power in all offices in 2021
- Spent approximately £200,000 on carbon offsets and removal projects for 2021
- Increased the amount of carbon offsets going towards carbon removal from 20% in 2020 to 25% in 2021
Social Achievements
- Launched a global minimum leave policy in FY2022
- Women accounted for 49% of the global workforce in FY2022
- Supported various charitable efforts including COVID-19 relief in India, humanitarian efforts in Malaysia and the Philippines, and support for Ukrainian refugees
- Launched the Wise 20 Under 20 competition to support young entrepreneurs
- Funded the creation of a new coding school in Estonia
Governance Achievements
- Voluntarily adopted the UK Corporate Governance Code upon listing
- Appointed three new Independent Non-Executive Directors in FY2022
- Developed a new Directors’ Remuneration Policy
- Implemented a three lines of defence model for risk management
Climate Goals & Targets
Medium-term Goals:
- Achieve net zero emissions by 2030
Short-term Goals:
- Increase the representation of women in Senior Leadership positions to at least 40% by 2025
Environmental Challenges
- Regulatory compliance risks across multiple jurisdictions
- Financial crime risks (money laundering, sanctions evasion, fraud)
- IT system risks (data security, unauthorized access)
- Market risks (FX rate and interest rate fluctuations)
- Disruptive competition
- Economic uncertainty
Mitigation Strategies
- Continuous evaluation of policies and procedures, remediation programs
- Investment in advanced analytics and AI for transaction monitoring, enhanced due diligence, sanctions screening, and fraud controls
- Improved change management processes, enhanced security measures, identity and access management program
- Dynamic FX hedging, risk thresholds and appetites, diversification of assets
- Focus on customer needs, infrastructure for partners, monitoring new technologies
- Adequate capital and liquidity, stress testing scenarios
Supply Chain Management
Responsible Procurement
- Third-party risk management processes, due diligence on new suppliers
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: UK Corporate Governance Code
Third-party Assurance: PricewaterhouseCoopers LLP
UN Sustainable Development Goals
- SDG 4: Quality Education
- SDG 5: Gender Equality
- SDG 8: Decent Work and Economic Growth
- SDG 10: Reduced Inequalities
- SDG 12: Responsible Consumption and Production
- SDG 16: Peace, Justice and Strong Institutions
Various initiatives align with these goals as described in the Environmental & Social Impact section
Awards & Recognition
- Fintech employer of the year in Singapore
- Best Places to Work in 2022 by Glassdoor Employees’ Choice Awards in the UK
Reporting Period: 2023
Environmental Metrics
Total Carbon Emissions:33,963 tCO₂e/year
Scope 1 Emissions:221 tCO₂e/year
Scope 2 Emissions:647 tCO₂e/year (location-based); 801 tCO₂e/year (market-based)
Scope 3 Emissions:30,669 tCO₂e/year
Total Energy Consumption:622,984 kWh/year (UK and offshore); 2,867,383 kWh/year (Global)
Carbon Intensity:Decreased per revenue compared to pre-COVID baseline
ESG Focus Areas
- Climate Change
- Financial Inclusion
- Diversity & Inclusion
- Ethical Business Culture
- Community Investment
Environmental Achievements
- Carbon neutral since 2020
- Clean power in largest offices since 2021
- Launched eco-friendly cards for UK and EU customers
- Commitment to purchasing $1 million in high-tech carbon removals over the next decade
Social Achievements
- Launched local charitable partnerships to boost financial inclusion for immigrants near major offices
- Wisers mobilized to help refugees
- Launched several ESG-related features for customers (fee-free donations, eco-friendly cards, carbon footprint insights in development)
- Wise Women Code program launched to inspire women in tech
- WiseStart scholarships to support underrepresented students
Governance Achievements
- Appointment of Elizabeth Chambers as an Independent Non-Executive Director
- Appointment of Clare Gilmartin as Senior Independent Director
- Launch of a formal workforce engagement plan
- Adoption of a formal Board diversity policy
- Created a Donations subcommittee to guide charitable giving
- Hired a full-time ESG manager
Climate Goals & Targets
Medium-term Goals:
- Achieve net zero emissions by 2030 (commitment under review)
Short-term Goals:
- Increase the representation of women in senior leader positions to at least 40% by 2025
Environmental Challenges
- Increased emissions due to post-COVID travel rebound and office reopening
- Evolving regulatory and compliance landscape
- Maintaining strategic partnerships with banks and payment providers
- Addressing financial crime risks in a growing and complex environment
- Ensuring robust IT systems and infrastructure
Mitigation Strategies
- Updated travel policy to promote sustainable travel
- Working with suppliers to reduce their carbon impact (e.g., migrating to energy-efficient servers with AWS)
- Strengthening anti-money laundering controls
- Investing in advanced analytics and AI for transaction monitoring and fraud prevention
- Enhanced security measures and vulnerability management program
- Developing an enhanced, comprehensive carbon reduction strategy
Supply Chain Management
Responsible Procurement
- Due diligence on material new partners
- Continuous reassessment of existing material suppliers
- Wiser training on Code of Conduct
- Board-approved policies related to modern slavery
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: TCFD, UN SDGs
UN Sustainable Development Goals
- Goal 10.C (Reduce remittance costs)
Providing services that improve the global movement of money, increasing access to financial services for millions
Sustainable Products & Innovation
- Eco-friendly cards
- Carbon footprint insights (in development)
Awards & Recognition
- City of Tallinn award for sustainable efforts at Wise Days event