At PayPal, we believe that you can do well as a business by doing good for society.
We’re built on the belief that high-quality financial services should be available to the many, not just the few. Through our products and services, we’re empowering millions of consumers and merchants to join and thrive in the global economy.
This purpose is both good for our business and good for the world. By making this purpose core to everything we do, we believe we can generate more value for our stockholders, better serve our customers, and deepen engagement for our employees.
Our 2022 Global Impact Report demonstrates how we are supporting our communities at large and delivering innovation and impact at scale. Some highlights include:
In an increasingly digital world, our products and services have never been more critical to building economic resilience. The recent tools we’ve launched—such as our Zettle Terminal in the U.S. and Tap to Pay in new markets across Europe—help merchants grow their businesses by offering shoppers more streamlined, flexible experiences. And for consumers, both PayPal Rewards and PayPal Savings accounts in the U.S. are making it easier them to manage their finances and achieve their financial goals.
More broadly, we remain committed to empowering our small business owners from underserved and unbanked communities to ensure they have equitable access to capital and resources. Through our Economic Opportunity Fund investments in 19 minority-led venture capital funds, we've supported over 250 portfolio companies, a majority with women and/or diverse founders.
Throughout 2022, we're proud of the valuable role our platform played in helping our customers donate to nonprofits and other causes they’re most passionate about. For the first time in our history, our customers donated more than $20 billion on our platform to 1.4 million nonprofits and causes in a single calendar year. Our employees also demonstrated an incredible commitment to their communities and volunteered nearly 100,000 hours to nonprofits globally.
To achieve PayPal’s mission, we need an engaged, diverse, and resilient workforce. We continue to focus on ensuring that employees can grow as leaders, build financial health, and prioritize total wellness. In addition to our commitment to growing a workforce that reflects the communities we serve, we once again achieved global gender and U.S. ethnic pay equity.
Prioritizing our employees’ financial wellness remains a top priority and is aligned with our Employee Financial Wellness Initiative commitments. We are proud to have exceeded our goal in 2022 for our employees globally to have at least 20% of their discretionary income remaining after taxes and typical expenses are paid.
PayPal is focused on responsibly managing our environmental impacts and exploring sustainable innovations across our products and services. In 2022, we sourced 90% of our total energy use with renewable generation and maintained 100% renewable energy across our global data centers, an effort that aligns with our long-term goal of achieving net-zero greenhouse gas (GHG) emissions across our value chain by 2040.
We're committed to building on our efforts to create a more inclusive and equitable economy for all.
To learn more about how PayPal is driving impact for our communities, read our 2022 Global Impact Report.
Making a Difference this Earth Day and Beyond
How We Strengthened our Communities in 2022