PayPal | Council for Inclusive Capitalism

PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable and secure, the PayPal platform is empowering people and businesses to join and thrive in the global economy.

Purpose

Our mission is to democratize financial services to ensure that everyone, regardless of background or economic standing, has access to affordable, convenient and secure products and services to take control of their financial lives.

We believe access to affordable and convenient financial services should be a right for all rather than a privilege for the few. To achieve this, we are aligned across the company around one central vision: to make the movement and management of money as simple, secure and affordable as possible. As we democratize financial services, we can enable the hopes, dreams and ambitions of millions of people around the world.

Dan Schulman

President and CEO, PayPal

Find out more

We believe it is vital to state clearly to the world the set of our beliefs about Inclusive Capitalism. As such, we start with our Statement of Guiding Principles for Inclusive Capitalism. Knowing that words alone are not enough, each of us is making a series of commitments about how we will operate our institutions so that they help achieve Inclusive Capitalism. These commitments are forward-looking statements based on current goals, expectations and assumptions, which are not guarantees of future performance. For more information, please refer to our Terms of Use

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Principles of Governance

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Summary

PayPal will support the development of a fintech innovation ecosystem to help vulnerable populations build resilience amid a changing climate by 2030.

Activities & Initiatives

The Climate Innovation for Adaptation and Resilience Alliance (CIFAR, pronounced “see far”) is a global initiative working to accelerate responsible innovation in digital finance for climate adaptation and resilience. The Alliance currently has 11 full members and one observer member. PayPal is a founding funder and member of the Alliance.

Measures & Targets

The CIFAR Alliance aims to provide gender-inclusive climate adaptation and resilience tools and resources directly to 1 billion of the world’s most vulnerable people, as well as mobilize over $25 billion of catalytic public, private and capital market investment in widely scaled solutions by 2030. The experiences, needs and interests of the world’s most affected individuals, small businesses, and natural ecosystems guide the Alliance’s actions, with particular focus on rural, urban, and coastal populations globally.

Summary

PayPal will reduce absolute operational GHG emissions by 25% by 2025.

Activities & Initiatives

PayPal has a long-term goal of achieving net-zero greenhouse gas (GHG) emissions across our operations and value chain by 2040.

Measures & Targets

PayPal will measure progress by comparing with a 2019 base year, with the ultimate goal of reducing absolute emissions by 25%.

In 2021, PayPal achieved a 73% operational emissions reduction from a 2019 base year.

Summary

PayPal made $108M to advance financial inclusion and economic empowerment for women and girls around the world by 2026.

Activities & Initiatives

Women make up the overwhelming majority of the world’s unbanked and underserved adults. PayPal has a responsibility to help expand the role of women in the financial system and advance economic equity through our resources, tools and technologies. As the private sector lead for the Economic Justice and Rights Action Coalition of the U.N. Women’s Generation Equality Forum, PayPal committed to strategic external and internal investments over the next four years supporting economic empowerment of women and girls, including:

$100M in capital to women-led or focused investment funds and depository institutions
$7M in financial partnerships to increase access to microloans for women entrepreneurs around the world
$1M in financial support to raise awareness of and incentivize donations to gender equality-focused organizations
10K hours of capacity building and skill- based employee volunteering through our Community Impact program

Measures & Targets

With the resources, tools and technologies at our disposal, PayPal will measure success by partnering with collaborative technical and advocay platforms to improve the availability, quality and use of gender data.

Summary

PayPal will engage 75% of our suppliers, by spend, to set science-based targets (SBTs) by 2025.

Activities & Initiatives

In partnership with CDP Supply Chain, in 2021 we engaged with more than 200 vendors and deployed targeted communications and trainings to teach them about GHG inventories, target setting and other best practices. We also engaged directly with our top business travel vendors to encourage climate pledges, with over 50% by spend committed to establishing sustainable business travel programs. We will continue to enhance our initiatives in 2022, including climate change education and resources for third-party managers and vendors.

Measures & Targets

28% of suppliers, by spend, have or committed to a SBT in 2021. Over 40% of our vendors by spend reported specific activities to reduce their GHG emissions.

Engaging with 75% of our suppliers will help us reach our long-term goal of net-zero GHG emissions by 2040 by reducing the Scope 3 emissions associated with the products and services we procure.

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Recognizing it will take alignment of all our organizations to scale impact globally, we invite you to join the movement as a Steward of Inclusive Capitalism. Together, the collective action of Council members will contribute to a fairer, more inclusive and sustainable future for all people and our planet.