There has seen a huge shift in the sports industry towards becoming more sustainable. Sports clubs, suppliers, manufacturers and broadcasters have been aiming at achieving carbon neutrality far before the government’s aim of 2050.

Continuing with the momentum building in the industry, Western Union Business Solutions is offering the opportunity to accelerate the transition to a low carbon economy while taking advantage of their unparalleled expertise in currency risk management.

How it works?

When you sign up to Western Unions Green Hedging initiative, they will redirect some of the proceeds from your normal foreign exchange hedging transactions with them to certified climate and development projects and then match that amount with their own contributions.

Example:

When you sign up, you select a preferred type of carbon offset project, covering activities ranging from Renewable Energy through to Biogas and Cookstoves. Each of these has a different US Dollar cost per tonne of carbon offset, but as an example, using the Green Hedging product, transacting a total of US$1,000,000 through Western Union could offset 200 tonnes of carbon - enough to offset around 117 return flights that a football crew could take from London to New York in economy. Hedging a total of US$10,000,000 could offset to carbon footprint of 500 loaded shipping containers with football shirts travelling from China to the UK*.

What will you receive?

• Globally recognised certification issued by Gold Standard proving your carbon offset.

• Additional information on the benefits of the projects you supported, aligned with the UN’s Global Goals for Sustainable Development.

• Prepare to meet Net-Zero legislation requirements and add it to your ESG reporting.

• Access guidance on how to manage your resources more efficiently to reduce operating costs and increase profitability.

* Assumes US$10 per tonne US$2,000 purchase and US$6.5 per tonne based on US$20,000 purchase -source: Gold Standard

* Average loaded Twenty Foot Equivalent Unit (TEU) at 19 tonnes and distance from Shanghai to Felixstowe of 19,243km and average footprint per TEU of 16.4g CO2e per tonne per km: source Statista.com

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This article is a financial promotion and has been prepared and approved by Western Union International Bank GmbH, UK Branch. The information contained within this article does not constitute

financial advice or a financial recommendation, is general in nature and has been prepared without taking into account your objectives, financial situation or needs.

Western Union Business Solutions is a business unit of the Western Union Company and provides services in the UK through Western Union’s wholly-owned subsidiary, Western Union International Bank

GmbH, UK Branch (WUIB).

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