Ripple (XRP) has released its 2023 impact report, marking the fifth year of Ripple Impact since its founding in 2018. According to Ripple, the report outlines the company’s significant progress in promoting financial inclusion, expanding blockchain education, and advancing sustainability efforts.
Impact in numbers
Since 2018, Ripple has donated over $185 million, with $25 million in grants allocated for 2023 alone. Additionally, the company tokenized 1 million carbon credits on the % achieved.
financial inclusion
Ripple has continued its efforts to support financial inclusion by funding and partnering with NGOs such as the Mojaloop Foundation and the Inclusive Fintech Institute at the University of California, Berkeley. Notably, Ripple’s partnership with Mercy Corps Ventures has resulted in six new investments and five pilot programs in early-stage companies in 2023, reaching more than 3 million underserved individuals through innovative financial products and services.
Blockchain Research and Innovation
The University Blockchain Research Initiative (UBRI) has expanded its network to include seven new universities across Europe, Canada, and Australia. Ripple distributed $6.7 million in grants, facilitating the award of more than 300 scholarships and grants and supporting the publication of 153 research papers and technology projects. The UBRI Connect conference in Toronto saw record attendance, highlighting the growing interest in blockchain education.
Sustainability and Carbon Markets
Ripple has committed to achieving net-zero emissions by 2030. In 2022, the company has committed $100 million to advance global carbon markets. Ripple has invested in high-quality carbon removal projects throughout the year, provided grants to climate-focused NGOs, and co-founded Centigrade, an open data platform for sustainable carbon credits.
Employee Impact
Ripple’s culture of giving back was recognized on People’s 2023 100 Companies that Care list, and the company won the Beyond the Check Award at the 2023 San Francisco Corporate Philanthropy Awards. Employee community volunteer participation has doubled since 2022, with nearly $1.5 million donated through the company’s matching giving program since 2018. Ripple has also launched a new partnership with Great Ormond Street Children’s Hospital Charity in London.
global philanthropy
In 2023, Ripple distributed $25 million in grants to more than 70 universities and non-profit organizations, with a focus on multi-year funding agreements. The company has also responded to humanitarian crises, including earthquakes in Turkey and Syria and wildfire disasters in Maui, Hawaii.
Ripple remains committed to fostering impactful partnerships and creating positive change globally and locally in 2024.
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