Climate Change Data

Environmental Metrics

ESG Focus Areas

• People & Culture
• Environmental Innovation
• Environmental Stewardship
• Social Impact
• Governance

Environmental Achievements

• Closed seven data centers in 2021, resulting in a 58% reduction in internal data center energy use since 2019.
• Measured Scope 1 and 2 greenhouse gas (GHG) emissions to establish a baseline for future reduction strategies.

Social Achievements

• Launched Inspire & Celebrate, a formal employee recognition program.
• Introduced a global flexible work environment.
• Expanded benefits to include conception benefits.
• Increased U.S. military veteran and military spouse employment by 56%.

Climate Goals & Targets

Environmental Challenges

• Climate transition risks impacting the business and customers.
• The complexity of the electric vehicle transition for customers.

Mitigation Strategies

• Developing solutions to help customers navigate the electric vehicle transition (charging infrastructure, transition planning, mixed-fleet management tools).
• Expanding partnership with ChargePoint to provide seamless EV charging integration.
• Integrating climate transition considerations into the risk management framework.

Supply Chain Management

Responsible Procurement

• Vendors assessed through Coupa’s third-party risk assessment; adherence to Code of Business Conduct and Ethics.

Climate-Related Risks & Opportunities

Physical Risks

• Volatile weather events

Transition Risks

• Impacts on business and customers from low-carbon transition

Opportunities

• Electric vehicle transition

Reporting Standards

Frameworks Used: SASB, GRI

Sustainable Products & Innovation

• Flume (digital wallet for small businesses)

Awards & Recognition

• Vault Top Internship 2021
• WayUp Top 100 Internship Programs 2021

Environmental Metrics

ESG Focus Areas

• People & Culture
• Environmental Innovation
• Environmental Stewardship
• Social Impact
• Governance

Environmental Achievements

• Reduced Scope 1 and 2 greenhouse gas (GHG) emissions by approximately 17.4% from 2021 to 2022
• Estimated 64% reduction in internal data center energy use since 2019, as a result of data center consolidation

Social Achievements

• Refreshed purpose and core values
• Worked toward 2025 DEI business aspirations
• Maintained global gender pay parity for comparable roles
• Introduced Consumer Pathways program to help HSA participants understand and optimize their accounts
• Launched Global Giving Framework
• Gave more than $980,000 to organizations and initiatives through corporate philanthropy

Governance Achievements

• Began phasing in the declassification of the Board of Directors
• Hosted an Investor Day
• Provided additional ESG training for the Board
• Renamed the Technology Committee to the Technology and Cybersecurity Committee

Climate Goals & Targets

Environmental Challenges

• Maintaining competitiveness in the technology sector talent market
• Measuring and reducing Scope 3 emissions (data center emissions)
• Managing climate transition risks and opportunities for customers

Mitigation Strategies

• Assessing talent management approach and organizational structure
• Migrating to public cloud service providers to reduce energy use and emissions
• Providing solutions and guidance to customers on EV integration and mixed fleet management
• Aligning climate strategy with the TCFD framework

Supply Chain Management

Supplier Audits: All vendors assessed through Coupa's third-party risk assessment

Responsible Procurement

• WEX's Code of Business Conduct and Ethics
• Vendor Inclusion program

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Shift to mixed fleets

Opportunities

• Providing solutions for EV integration and mixed fleet management

Reporting Standards

Frameworks Used: SASB, GRI Universal Standards, TCFD

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Goal 3: Good Health and Well-being
• Goal 5: Gender Equality
• Goal 8: Decent Work and Economic Growth
• Goal 11: Sustainable Cities and Communities
• Goal 13: Climate Action

WEX's business activities and ESG strategy contribute to these goals through various initiatives.

Sustainable Products & Innovation

• En-route charging solution
• DriverDash mobile app expansion

Awards & Recognition

• Chief Learning Officer’s 2022 Learning In Practice awards (Gold award for VP, Global Talent Development)

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Environmental Innovation
• People & Culture
• Social Impact
• Governance

Environmental Achievements

• Reduced Scope 1 and 2 greenhouse gas (GHG) emissions by approximately 21.0% from 2022 to 2023
• Achieved cloud migration goal and made progress against data center consolidation initiative, reducing energy use by 73.3% since 2019

Social Achievements

• Launched wexchange, a digital employee intranet
• Launched formal Vendor Inclusion Program
• Donated more than $1.2 million to more than 140 organizations
• Launched employee giving and volunteering program, WEX for Good
• Increased employees of color in leadership roles
• Overall voluntary turnover rate among global employees decreased by 41% from 2022 to 2023 (10%)

Governance Achievements

• Hosted a Benefits Investor Day
• Implemented a Political Engagement Statement
• Declassified the Board (completed in 2024)

Climate Goals & Targets

Environmental Challenges

• Reducing Scope 3 emissions
• Maintaining competitiveness in the talent market
• Managing climate transition risks and opportunities

Mitigation Strategies

• Conducting assessment to better understand Scope 3 emissions
• Improving recruiting processes and introducing new tools
• Investing in companies focused on energy transition through WEX Venture Capital
• Actively engaging with customers to understand their climate transition strategies

Supply Chain Management

Supplier Audits: All vendors participate in Coupa's third-party risk assessment

Responsible Procurement

• WEX's Code of Business Conduct and Ethics
• Vendor Inclusion & Diversity program

Climate-Related Risks & Opportunities

Opportunities

• Providing environmentally friendly solutions for customers
• Positioning WEX as a key partner in the transition to alternative fuels

Reporting Standards

Frameworks Used: SASB, GRI

UN Sustainable Development Goals

• Goal 3: Good Health and Well-being
• Goal 5: Gender Equality
• Goal 8: Decent Work and Economic Growth
• Goal 11: Sustainable Cities and Communities
• Goal 13: Climate Action

WEX's initiatives contribute to these goals through its benefits administration, DEI programs, community investment, sustainable solutions, and emission reduction efforts.

Sustainable Products & Innovation

• DriverDash mobile app with EV functionality
• At-home EV charging reimbursement product

Awards & Recognition

• Three gold awards from the Brandon Hall Group
• 2023 CLO of the Year award
• 2023 LearningElite gold award winner
• Editor’s Choice award for business impact