How Carbon Credits Can Finance Climate Action
February 23, 2023
2022
Fintech as a force for good
Ripple Impact launched in 2018 with the goal of being a force for positive change for both people and the planet. From industry leading sustainability commitments, to funding innovative financial inclusion programs, to empowering our employees to make a difference, this report highlights some of the milestones Ripple Impact reached in 2022 and the partners that helped make it all possible.
$170M+
Donated since 2018
$100M
Committed to modernizing and scaling global carbon markets
$80M
Committed to blockchain education, research and scholarships
182K
Metric tons of high quality carbon credits acquired
50
Global university partners
78%
Employee participation in giving and volunteering programs
Increasing Financial Opportunity for All
Globally, 1.4 billion people are unbanked and nearly 2 billion more are underbanked. In 2022, Ripple continued to invest in blockchain technologies and NGOs working to accelerate global financial inclusion.
Through partnerships with groups like Mercy Corps Ventures, CARE and the University of California at Berkeley, Ripple is transforming how financially excluded or underserved communities access and participate in financial services. Together we are increasing equity and economic opportunity.
$25M
Committed to NGOs working to make global financial services more inclusive and equitable
University Blockchain Research Initiative
The first program of its kind globally, Ripple’s University Blockchain Research Initiative (UBRI) reached impressive new milestones in 2022. The program added five new partners, expanding our partnership network to fifty of the world’s top universities and has now facilitated more than 1,000 research papers and technical projects to date.
UBRI continued to be at the forefront of diversifying the fintech workforce, sponsoring the 2022 National HBCU Blockchain and FinTech Conference and collaborating with Historically Black Colleges and Universities like Morgan State University to engage and empower more women and students of color to pursue careers in blockchain and crypto. The goal is to ensure a more inclusive and equitable future for our global financial system.
UBRI Connect 2022 Recap
$80M
Committed to blockchain and fintech education, research and innovation
433
New or expanded fintech courses
Leading the Way on Global Crypto and Fintech Sustainability
The role of corporations in achieving globally agreed upon climate goals is critical. In 2022, Ripple not only made progress toward our own target of reaching carbon-net-zero by 2030, but continued to advocate for sustainability throughout the crypto industry and co-founded Blockchain for Climate (BxC), launched in Davos.
Ripple made a $100M commitment to invest in blockchain technology as a potentially transformative tool for modernizing and scaling global carbon markets, including tokenizing high quality carbon credits on the XRP Ledger (XRPL), bringing them to market faster and more efficiently than ever before.
Net Zero
On track to reach carbon net zero by or before 2030
$100M
Committed to modernizing and scaling global carbon markets
182K mTCO2
Metric tonnes of high quality carbon credits acquired
Empowering Employees to Make a Difference
Ripple empowers our global employees to make an impact by matching employee donations, organizing volunteer opportunities in local communities and fundraising for nonprofits chosen by our Employee Resource Groups. Ripplers volunteered with community partners to reduce food insecurity in Mumbai, increase playspace equity in Oakland and plant carbon storing mangrove trees in Dubai. Employee participation in Ripple Impact programs reached 78% in 2022, well above industry benchmarks.
Read more about giving back at Ripple
78%
Employee participation in Ripple Impact giving and volunteering programs
344
Nonprofits supported by employees
$1M+
Employee donations and matching reached
Investing in Partners, People, and World-Changing Ideas
Our nonprofit partners are addressing some of the world’s most pressing challenges, driving innovation for lasting change. Since Ripple Impact’s inception in 2018, Ripple’s philanthropy has supported a diverse and global network of high-performing nonprofits.
In 2022, Ripple was ranked third in the San Francisco Business Times Top 100 Corporate Philanthropy List. We have responded rapidly to global humanitarian crises, giving generously to organizations responding on-the-ground during pandemics, war and natural disasters.
$26M
Given in 2022
83%
Grant funds issued in 2022 part of multi-year funding agreements
60+
Nonprofits and universities received funding from Ripple in 2022
Our UBRI partnership with Ripple has further strengthened Morgan State’s commitment to advancing the next generation of engineers, entrepreneurs and tech professionals.
Dr. David Wilson
President, Morgan State University
As we mobilize urgent, emergency relief to earthquake victims in Turkey and Syria, we are deeply grateful for the generous partnership of Ripple, as well as the efforts of the broader crypto community. This will make a difference for thousands of families.
Michelle Nunn
President and CEO, CARE USA
From responding to humanitarian crises, to increasing economic opportunity for the unbanked, to addressing the climate crisis: crypto and Web3 present a range of compelling solutions. Ripple has been a trailblazing partner for Mercy Corps in driving innovation in this area.
Scott Onder
Chief Investment Officer, Mercy Corps
Ripple’s investment will accelerate CarbonCure’s active scaling and help us achieve our mission to reach 500 million metric tons of annual CO₂ reduction and removal by 2030 — equivalent to removing 100 million cars from the road each year.
Rob Niven
Founder and CEO, CarbonCure Technologies
Ripple Impact has been instrumental in permitting to advance state of the art and policy-relevant research at the Lab for Inclusive Fintech. This work would not have been possible without Ripple’s contributions, guidance and support.
Laura Chioda
IBSI Director of Research, LIFT, UC Berkeley
With Ripple’s support, Eat.Learn.Play. has provided millions of nutritious meals for Oakland kids and families and built safe and equitable playspaces for youth to serve communities for generations to come. Our work together is far from over, and we’re committed to supporting individuals and families across the Bay Area in every way we can. We’re very grateful to have Ripple’s partnership in this work.
Chris Helfrich
CEO, Eat.Learn.Play. Foundation
World Central Kitchen is a team of food first responders–we mobilize with the urgency of now to get fresh meals to those who need them most. Since 2020, Ripple’s support has helped us work nimbly and start cooking fast for Bay Area communities during COVID, as well as millions of people affected by the war in Ukraine, and the earthquakes in Türkiye and Syria.
Jason Collis
Chief Relief Officer, World Central Kitchen
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