The Time for Progress is Now

2023 Ripple Impact Report: Building Financial and Climate Resilience

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The 2023 Ripple Impact Report marks Ripple Impact’s fifth year since launching in 2018, detailing Ripple’s commitments to positive social and environmental impacts. In 2023, Ripple Impact made significant strides in supporting financial inclusion, expanding blockchain academia with UBRI, our path to net zero, and empowering our employees to make a difference locally. Through our partnerships with international NGOs and universities, Ripple Impact continues to demonstrate how fintech can be a force for good.

Impact by the Numbers

  • $185M+ donated since 2018

  • $25M in grants distributed in 2023

  • 1M carbon credits tokenized on XRP Ledger (XRPL)

  • 56 global university partners

  • 1,100+ blockchain research papers and technical projects funded

  • 77% employee participation in giving and volunteering programs

Financial Inclusion

Ripple continued to fund and collaborate with NGOs like Mojaloop Foundation and the Lab for Inclusive Fintech at the University of California, Berkeley to expand access to financial services to the world’s un-and-underbanked populations. Our ongoing partnership with Mercy Corps Ventures has been especially impactful, with six new investments in early-stage companies and five pilot programs conducted in 2023 alone. The partnership has so far reached over 3 million underserved people with innovative products and services.

Blockchain Research and Innovation

Ripple’s University Blockchain Research Initiative (UBRI) continued to expand its global network of academic partners, adding seven new universities across Europe, Canada, and Australia. We continued to make good on our $80 million commitment to funding blockchain education, distributing $6.7M in grants that allowed our partners to award more than 300 scholarships and fellowships, published 153 research papers and technical projects, and set record attendance at the largest-ever UBRI Connect conference in Toronto, Canada. 

Sustainability and Carbon Markets

Ripple was the first company in the sector to commit to emission reduction targets, with a goal to achieve net zero emissions by 2030. In 2022, we continued this with a $100 million commitment to advancing global carbon markets. Throughout last year, Ripple made progress toward this goal by investing in high-quality carbon removal projects, grants to climate-focused NGOs, and the co-founding of Centigrade, a new company and open data platform addressing the availability of durable carbon credits. 

Employee Impact

Ripple’s culture of giving back was recognized by People’s 2023 100 Companies that Care list and we received the Beyond the Check Award at the 2023 San Francisco Corporate Philanthropy Awards for our continued partnership with Stephen & Ayesha Curry’s Eat. Learn. Play. Foundation. Globally, the number of Ripplers volunteering in their communities doubled from 2022, and through our matching donation program, employees have now donated nearly $1.5 million since 2018. We launched a new partnership with Great Ormond Street Children’s Hospital Charity in London. 

Global Philanthropy

To support the key impact areas described above, Ripple grants substantial resources to a diverse network of high-impact organizations. In 2023, we distributed $25 million in grants to over 70 universities and nonprofits, the majority of which were part of multi-year funding agreements. We also responded quickly to support humanitarian efforts following the devastating earthquakes in Turkey and Syria and the wildfire disaster in Maui, Hawaii.

We are grateful to our partners and employees who made all of the progress and milestones in our 2023 Ripple Impact Report possible. We remain committed to fostering impactful partnerships and making a positive impact locally and globally in 2024.

Explore the web version of the Ripple Impact Report or download the full PDF to learn more.

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