Wise
Wise, formerly known as TransferWise, is a leading financial technology company headquartered in the United Kingdom. Founded in 2011, Wise has revolutionised the way individuals and businesses transfer money internationally, offering a transparent and cost-effective alternative to traditional banks. With a strong presence in Europe, North America, and Asia-Pacific, Wise operates in the fintech industry, focusing on cross-border payments and currency exchange. The company’s core services include multi-currency accounts and low-cost international transfers, distinguished by their real exchange rate and minimal fees. Wise has garnered a reputation for its user-friendly platform and commitment to transparency, positioning itself as a trusted choice for millions of customers worldwide. Notable achievements include reaching over 10 million customers and processing billions in transactions, solidifying Wise's status as a pioneer in the global money transfer landscape.
DitchCarbon Score
How does Wise's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Wise's score of 41 is higher than 93% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Wise's reported carbon emissions
In 2023, Wise reported total carbon emissions of approximately 31,692,000 kg CO2e globally, with emissions broken down into Scope 1 at 221,000 kg CO2e, Scope 2 at 647,000 kg CO2e (location-based), and a significant Scope 3 contribution of about 30,669,000 kg CO2e. In the UK, Wise's emissions for the same year were approximately 42,400 kg CO2e for Scope 1 and 90,700 kg CO2e for Scope 2, totalling around 133,200 kg CO2e. In previous years, Wise's emissions have shown fluctuations, with 2021 global emissions reaching about 877,400 kg CO2e and UK emissions at approximately 152,200 kg CO2e. The company has not disclosed specific reduction targets or initiatives, indicating a lack of formal commitments to emissions reduction strategies at this time. Wise's emissions intensity metrics include approximately 7,700 kg CO2e per employee and 0.033 kg CO2e per £ million of revenue in 2023, reflecting the company's operational scale and environmental impact. As Wise continues to grow, its climate commitments and strategies will be crucial in addressing its carbon footprint and aligning with industry standards for sustainability.
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| 2020 | 2021 | 2023 | 2024 | |
|---|---|---|---|---|
| Scope 1 | 117,700 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 592,300 | 000,000 | 000,000 | 00,000 |
| Scope 3 | - | - | 00,000,000 | 00,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Wise is not committed to any reduction initiatives we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
