At PayPal, we're fueled by a relentless ambition to empower consumers and merchants worldwide to engage in the global economy, all while doing good in the world. We work with merchants like Yuki Matano, owner of Tsugu Tsugu. Yuki turned her curiosity and passion for kintsugi, the traditional Japanese art form of repairing broken ceramics, into a thriving business that helps keep broken ceramics out of landfills. The innovation, resilience, and entrepreneurial spirit of Yuki and millions of customers around the world inspire and drive our work.
Our 2023 Global Impact Report details how our progress on our corporate sustainability and impact priorities helps strengthen our foundation for sustainable, long-term growth while supporting our customers, employees, and communities. Here’s a selection of highlights from this year’s report.
We’re financially empowering individuals, businesses, and nonprofits to achieve great things
In 2023, we 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.
We also leveraged our capabilities to make a meaningful impact on groups around the world. 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.
We’re fostering a collaborative environment for employee growth
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.
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.
Making a positive impact in the places we live and work is important to our business and to our employees. That's why we expanded our 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.
We’re maintaining customer trust with responsible practices
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.
We’re employing a sustainability mindset
While our environmental footprint is relatively small compared to companies in other industries, we’re focused on addressing environmental and climate-related risks and opportunities that are relevant to PayPal, our employees, our customers, our suppliers, our investors, and the communities where we operate.
In 2023, we matched 100% of our global data centre 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 looking to the future
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.
To learn more about how PayPal is making a positive impact, read our 2023 Global Impact Report.
To see more highlights from the report, check out the overview.