Ripple 2023 Impact Report: Companies Donate $18.5 Billion

Ripple’s 2023 Annual Impact Report highlights $185 million in donations since 2018, $25 million in grants in 2023, the tokenization of 1 million carbon credits, and progress in financial inclusion.
Ripple has released its 2023 Ripple Impact Report, which aims to highlight its achievements in social and environmental initiatives. Since its founding in 2018, Ripple Impact has focused on financial inclusion, blockchain research, and sustainability, purportedly making contributions in these areas over the past year.
Financial inclusion efforts
According to the report, Ripple has made significant progress in expanding access to financial services for disadvantaged populations. Partnering with organizations like the Mojaloop Foundation and UC Berkeley’s Financial Inclusion Lab, Ripple is committed to bringing financial services to untapped and underserved communities.
The ongoing collaboration with the Massey Fund Corporate Venture Fund has resulted in new investments in six early-stage companies and five pilot programs through 2023, enabling more than 3 million disadvantaged people to benefit from financial products and services.
Progress in blockchain research
Additionally, Ripple’s University Blockchain Research Initiative (UBRI) continues to drive blockchain innovation. The program has expanded its global network with the addition of seven new academic partners in Europe, Canada and Australia.
In 2023, Ripple allocated $6.7 million in grants to support blockchain education, funding more than 300 scholarships and fellows. This effort has resulted in the publication of 153 research papers and technical projects. The largest UBRI Connect conference to date was held in Toronto, Canada, attracting a record number of participants and fostering further collaboration in the field.
Commitment to Sustainability
According to the report, Ripple maintains its sustainability leadership in the fintech industry and strives to achieve net zero emissions by 2030. In 2022, Ripple pledged to invest $100 million to advance the global carbon market.
This includes investments in high-quality carbon removal projects, grants to climate-focused NGOs, and co-founding Centigrade, a company dedicated to improving the supply of durable carbon credits. Additionally, Ripple tokenized 1 million carbon credits on the XRP Ledger, supporting its focus on environmental sustainability.
People and Global Reach
Additionally, Ripple employees have excelled in community service, with 77% employees participating in donation and volunteering initiatives. Ripple was recognized by People magazine’s 2023 list of 100 Companies to Care About and received the Beyond the Check award for its work with the Eat. Learn. Play. Foundation.
The company has also formed a new partnership with the Glanmond Street Children’s Hospital Charity in London. In response to humanitarian crises, Ripple has allocated grants to support recovery efforts following earthquakes in Türkiye and Syria and wildfires on Maai, Hawaii.
Community reaction and regulatory discussions
The Ripple community actively discusses the company's strategic initiatives. There is speculation that Ripple may have hindered XRP from reaching its all-time high of $3.84 due to monthly sales and potential impact on retail liquidity. However, these speculations have been debunked.
Meanwhile, a Stanford University paper highlighted the strategic value of Ripple and criticized U.S. regulators for their delay in regulating cryptocurrencies, sparking further debate on the country’s approach to cryptocurrency regulation. Disclaimer: This content is for reference purposes only and should not be considered financial advice. The opinions expressed in this article may contain the personal opinions of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.