“Leave your campsite better than you found it.”
This adage — often doled out by camp counselors, scout troop leaders, park officials and parents — is a core principle of spending time in nature.
On the surface, these instructions also describe the main goal of sustainability — to minimize our negative impact on the environment — but they also represent the positive impact purpose-driven work has on our world.
Similarly, sustainability in business is dually beneficial: it provides purpose and it’s good for the environment.
For financial technology company Wise, sustainability represents a larger mission of building a fairer world with more responsible and inclusive finance. Because of the real commitments Wise has made towards its sustainable mission, its employees can feel more connected and confident in the impact of their daily work.
Purpose-driven work is inspiring, and it matters to the majority of workers today. Research from McKinsey and Company notes that 82 percent of employees believe it’s important for their company to have a clear purpose, and when a company has a clear purpose, employee engagement and retention increases.
Built In spoke with Wise to learn more about its sustainability practices and the mission that inspires its team.
Wise is a financial services company that offers banking and financial management services for personal and business use.
Tell us about the sustainability practices Wise has embraced. Why were these practices chosen, and what impact have they had on the business so far?
Sustainability is at the core of Wise’s mission. That includes sustainability in our product, pricing and environmental impact. Since our founding, we have implemented several programs and initiatives to measure and scale our impact globally.
One of the major areas of commitment for Wise has been managing our carbon footprint. Wise is a global company, so we’re taking responsibility for the impact we have on the planet. Wise began conducting comprehensive emissions measurements in 2019 and has partnered with Watershed to map, report and act on our carbon footprint.
Over the years, we have hit a number of milestones. Wise now uses solely clean energy to power our key offices as of 2021, and we pledged to invest $1 million by 2030 in a wide portfolio of companies focused on carbon removal managed by Frontier. These carbon removal purchases, in tandem with emissions reductions, will help Wise meet our sustainability goals in the future.
When it comes to our product, we work with specific suppliers to become more energy efficient, supporting companies with a similar commitment to sustainable practices.
How does a commitment to sustainability contribute to Wise’s overarching goals?
At Wise, we are building solutions that will change the way people and businesses move and manage money internationally. Our commitment to sustainability aligns closely with our mission to create a fairer world by enhancing financial inclusion and advocating for transparency in our products and across the financial services industry as a whole. By integrating sustainable practices into our operations and product offerings, we help protect the environment and foster a culture of responsibility that resonates with our customers.
Moreover, sustainability is integral to our long-term strategy. We want to serve our customers today and 50 years from now. Building sustainability into our products and practices is essential to ensure Wise is around for our customers in the long run.
What impact does a commitment to sustainability have on employee engagement and retention?
Wise’s climate and social impact initiatives are supported by a team of Wise employees — Wisers — from across the company as well as an actively engaged leadership team. We see significant cross-team collaboration from Wisers driving projects and embedding environmental, social and governance principles to Wise’s broader business strategy.
Additionally, our workplace teams are dedicated to improving the sustainability of our offices, creating environments where Wisers can thrive while minimizing our ecological footprint. This commitment fosters a sense of purpose among employees, as they see their work contributing to meaningful environmental and social outcomes.
“This commitment fosters a sense of purpose among employees, as they see their work contributing to meaningful environmental and social outcomes.”
Engaging in sustainability initiatives boosts morale, inspires creativity and enhances team cohesion. Employees are more likely to feel proud of their workplace and remain loyal when they see their organization taking concrete actions toward a sustainable future.
