At PayPal (NASDAQ: PYPL), they claim to be focused on a goal to empower consumers and merchants worldwide to engage in the global economy, all while doing good in the world.
The PayPal 2023 Global Impact Report details how their progress on their corporate sustainability and impact priorities “helps strengthen our foundation for sustainable, long-term growth while supporting our customers, employees, and communities.”
As noted in the update, they’re financially “empowering individuals, businesses, and nonprofits to achieve great things.”
In 2023, PayPal reportedly “provided access to $2.7 billion in much-needed capital to help small- and medium-sized businesses grow and thrive, bringing the total to more than $28 billion since 2013.”
PayPal also leveraged their capabilities to “make a meaningful impact on groups around the world.”
The firm added:
“We supported the economic empowerment of low-income women through our partnership with Women’s World Banking and harnessed the potential of blockchain technology to enable low-cost and nearly instant funds transfers with the PYUSD stablecoin. We also enabled our customers to support worldwide causes and organizations they feel passionate about. In 2023, PayPal users donated $20.9 billion to nonprofits and causes around the world.”
PayPal also mentioned that they’re now focused on “fostering a collaborative environment for employee growth office workers.”
The company also mentioned:
“We continued to take tangible actions to cultivate belonging and foster workplace culture in alignment with our mission, vision, and values. Our eight distinct Employee Resource Groups, with more than 9,400 members, are open to all and built on a foundation of allyship and provide an essential channel for building community and a sense of belonging.”
They continued:
“We’re also focused on expanding opportunities for underrepresented talent. In 2023, two of our efforts included helping refugees start or advance their careers in partnership with Upwardly Global, and supporting the reintegration of veterans and military spouses in the private-sector workforce in partnership with Hiring our Heroes.”
As noted in a blog post, making a positive impact in the places we live and work is important to our business and to our employees.
That’s why they claim to have “expanded their paid volunteer time-off policy to include all global employees and logged more than 118,000 employee volunteer hours in our local communities over the past year.”
The firm further noted:
“In 2023, we further enhanced security and fraud protection to make customer transactions even safer and help merchants reduce losses. Our global expansion of passkeys allows our customers to seamlessly log in to PayPal without having to remember and type in a password. We also implemented new fraud protection services in the U.S., including improved early fraud detection and real-time app alerts.”
The company also shared:
“In 2023, we matched 100% of our global data center energy use with renewable generation sources for the third consecutive year in continuation of our pledge to reach net-zero greenhouse emissions by 2040. We also reduced our operational emissions by 75% since 2019. We’re steadfast in our commitment to shaping the future of commerce worldwide for our consumers and merchants, while making a positive impact on the communities where our employees live and work.”
