Climate Action and Sustainability in Wise: A Case Study

• Consumer Goods
• Education

• Sales & Marketing

• Time Sensitive Networking

Wise, a global technology company, was faced with the challenge of integrating climate action and sustainability into its operations. Despite the company's primary focus on helping people and businesses move and manage money around the world, there was a growing need to address environmental concerns. Phil Denington, the Global Creative Lead, had a personal interest in climate action and initiated a climate program at Wise. However, the climate work was far from his day-to-day remit and was more of a side hustle. On the other hand, Nick Catino, the Global Head of Policy, was tasked with leading the broader ESG strategy. The challenge was to measure the company's carbon footprint, set a net zero target, and ensure compliance with reporting requirements. Additionally, there was increasing pressure from partners, competitors, and regulators to demonstrate a commitment to sustainability.

Wise is a global technology company that helps individuals and businesses move and manage money around the world. The company's customers range from average consumers to big banks, all of whom are increasingly expecting Wise to address its carbon footprint and demonstrate a commitment to sustainability. The company's product is only as good as the people it hires, and responsibly addressing climate change has become a pull factor for attracting great talent. Wise also works with partners who are keen to know that the company has a net zero plan in place, and competitors who are making sustainability a key issue.

To address the challenge, Wise started by measuring its carbon footprint and setting a net zero target. Phil Denington initiated the process by offsetting his personal footprint and challenging Wise to do the same. He secured internal sponsorship and started working with Watershed, a climate software company. Nick Catino took over the broader ESG strategy, convening an internal advisory committee and ensuring compliance with reporting requirements. Wise also hired a dedicated person to drive the sustainability efforts on a daily basis. To keep up with the latest news and developments in climate action, Wise employees subscribed to various newsletters and shared resources on a dedicated Slack channel. The company also focused on transparency in its efforts to become environmentally sustainable.

• The integration of climate action and sustainability into Wise's operations has resulted in several qualitative benefits. The company has been able to demonstrate its commitment to environmental sustainability to its customers, partners, and regulators. This has not only enhanced its reputation but also made it more attractive to potential employees who value companies that take climate action. The company's efforts to become environmentally sustainable have also put it in a better position to comply with increasing regulatory requirements related to climate disclosures. Furthermore, the company's proactive approach to climate action has enabled it to stay ahead of the curve and prepare for a future where understanding and reducing one's carbon footprint will be a must-do rather than a nice-to-do.