Impact

2023

Building Global Financial & Climate Resilience

Ripple Impact launched in 2018 as a catalyst for positive change for people and the planet. From forging industry-leading sustainability commitments, to funding innovative financial inclusion programs, to empowering Ripple employees to make a difference, this report highlights Ripple Impact’s milestones and achievements through 2023 and the partners that helped make it all possible.

$185M+

Donated since 2018

$25M

In grants distributed in 2023

1M

Carbon credits tokenized on XRPL

56

Global university partners

1,100+

Blockchain research papers and technical projects funded

77%

Employee participation in giving and volunteering programs

Increasing Financial Opportunity for All

In 2023, Ripple continued our commitment to expanding financial inclusion globally by funding and collaborating with leading NGOs like Mercy Corps Ventures, Mojaloop Foundation and the Lab for Inclusive Fintech at University of California, Berkeley.

These partnerships supported pilot programs and research into utilizing blockchain and digital asset technologies to expand access to financial services and create financial opportunity and resilience for people in developing economies.

$27M

Committed to NGOs working to make global financial services more inclusive and equitable

6

Investments in high-impact startups in emerging markets with Mercy Corps Ventures

5

Pilots supported using web3 innovation to build financial resilience

University Blockchain Research Initiative

Since its inception in 2018, the University Blockchain Research Initiative (UBRI) has grown into an extensive global network of universities, creating a diverse portfolio of blockchain research, technical development and innovation.

In 2023, UBRI celebrated its fifth year, adding new partners in Europe and Canada, expanding the network to 56 universities. UBRI partners hosted inspiring blockchain hackathons, awarded hundreds of scholarships and fellowships and set record attendance at the largest-ever UBRI Connect conference in Toronto, Canada. We remained committed to helping bring more women into the web3 space and diversifying the fintech workforce, including renewing a grant to Morgan State University, in support of the entirety of the HBCU community.

313

Scholarships and fellowships funded

$6.7M

Distributed to university partners

153

Research papers and technical projects published

Leading the Way on Global Crypto and Fintech Sustainability

To meet the Paris Agreement’s goal of limiting temperature rise to 1.5 degrees Celsius, global efforts to achieve net zero carbon emissions are more important than ever. Reducing emissions will not be enough and scientists now estimate that upwards of 10 gigatonnes of CO2 will need to be removed annually from the atmosphere by 2050. Ripple remains dedicated to addressing this urgent, global challenge.

In 2023, we continued to make progress towards our emission reduction targets, aiming to achieve net zero emissions by 2030. We invested in high-quality carbon removal projects, supported the tokenization of carbon credits on XRP Ledger and made $1M in grants to climate-focused NGOs such as the Rocky Mountain Institute and Regen Foundation. As part of our $100M commitment to advancing global carbon markets, Ripple also co-founded Centigrade, a new company and open data platform that seeks to significantly enhance the availability of durable carbon credits.

$30M

Deployed as part of our $100M sustainability commitment since 2022

1M

Carbon credits tokenized on XRPL

11K

MWh renewable energy purchased

Empowering Employees to Make a Difference

In 2023, Ripple’s expanding global team continued giving back through impactful initiatives. Our matching donation program and partnerships with community-based organizations supported employee efforts to make a meaningful difference in their communities. A record number of Ripplers volunteered their time in 2023, building playgrounds for students in Oakland, CA, packing healthy food bundles for senior citizens in Singapore and planting trees in Bangalore, India.

Thanks to the dedication of our employees, participation in Ripple Impact programs rose to 77% in 2023. Since 2018, Ripple employees have raised nearly $1.5M, further strengthening Ripple’s commitment to fostering positive change worldwide.

77%

Employee participation in Ripple Impact giving and volunteering programs

402

Nonprofits supported by employees

$1.4M

Employee donations and matching since 2018

Investing in Breakthrough Ideas

Ripple’s nonprofit partners are at the forefront of applying innovative solutions to address the world’s biggest challenges. Since Ripple Impact’s founding in 2018, our grantmaking has bolstered a diverse and global network of high-impact nonprofits, focusing on areas such as blockchain for good, financial inclusion, climate resilience and community engagement.

In 2023, we donated to over 70 universities and nonprofits, more than half of which are multi-year commitments. In times of crisis, we swiftly responded, extending support to communities affected by disasters such as the earthquakes in Turkey and Syria and joining a matching XRP donation campaign with The Giving Block to aid organizations responding to the wildfire disaster in Maui, HI.