Supporting the U.N. Sustainable Development Goals The United Nations (U.N.) Sustainable Development Goals (SDGs) are a set of 17 global goals and 169 targets that aim to achieve a better and more sustainable future for all. Across PayPal, we seek opportunities to align our business activities and priority impact areas with these goals. We annually assess our net contributions to the SDGs based on the degree of potential influence and a mapping to our core business and ESG activities and outcomes to the SDGs’ underlying targets. We found that PayPal makes a direct, positive contribution to 11 of the 17 goals, with the greatest impact on the seven goals highlighted below. As a member of the U.N. Global Compact (UNGC), we report on our contribution to the Ten Principles, which encourage adoption of sustainable and socially responsible policies aligned with the SDGs. For a complete set of ESG metrics that align to the UNGC, please see ESG Performance Metrics Table. SDG Target Relevance 2022 Select Progress Our mission to democratize financial • Enabled over $20B in donations, helping support nearly 1.4M nonprofits and causes through the PayPal Giving Platform. GOAL 1: Target 1.4: Ensure that all men and women, in particular the poor and the services is foundational to our business • Facilitated over $620M in aid for extraordinary events globally, including the humanitarian crisis in Ukraine, flooding in Pakistan and No Poverty vulnerable, have equal rights to economic resources strategy, as we seek to enable greater 115 economic access to populations globally. Hurricane Ian in the U.S. 116 End all forms of discrimination against all women and girls PayPal’s products and services help • Increased female representation across technical, professional and leadership roles year over year since 2020, with 44% overall gender GOAL 5: Target 5.1: everywhere provide access to the digital economy diversity in 2022. Gender for women, and we continue to advocate • Provided over 11,000 hours of mentorship and capacity building in support of women and girls globally as the private sector lead for the Equality Target 5.5: Ensure women’s full and effective participation and equal for equal representation and benefits for U.N. Women’s Generation Equality Forum’s Economic Justice and Rights Action Coalition. opportunities for leadership at all levels of decision-making women in the workforce. • Supported the Pregnant Workers Fairness Act to require additional accommodations and protections for pregnant workers in the U.S. Target 8.5: Achieve full and productive employment and decent work for • Achieved 100% global gender, U.S. ethnic and intersectional pay equity. GOAL 8: all women and men, and equal pay for work of equal value We develop products and enact initiatives • Introduced enhanced products and partnerships to provide simple, secure and affordable money management tools to our 400M Decent Work to help improve the financial wellness of active consumer accounts. and Economic Strengthen the capacity of domestic financial institutions our customers and employees around Growth Target 8.10: to encourage and expand access to banking, insurance the world. • Renewed $90M in deposits to two Black-owned banks and Community Development Financial Institutions through our Economic and financial services for all Opportunity Fund. GOAL 9: We support small- and medium-sized 117 Industry, Increase the access of small-scale industrial and other businesses (SMBs) globally through • Facilitated over $25B in capital to SMBs through more than 1.2M loans since 2013. Innovation and Target 9.3: enterprises, in particular in developing countries, to financial access to capital and tools to drive • Continued to help SMBs globally access payments solutions and financial services, such as through our Venmo business profiles and Infrastructure services and their integration into value chains and markets business growth. grant program and investments in Paymob in Egypt and Xepelin in Chile. Target 10.2: Empower and promote the social, economic and political • Exceeded our goal of at least 20% PayPal-defined estimated net disposable income for our hourly and entry-level employees Through investments and product 118 GOAL 10: inclusion of all globally. Reduced enhancements, we are driving greater • Our investments in 19 minority-led venture capital funds, helped deploy nearly $300M in capital to 250+ portfolio companies and Inequality Reduce to less than 3% the transaction costs of migrant equity for underserved individuals and advanced a more diverse venture capital ecosystem. Target 10.C: remittances and eliminate remittance corridors with costs minority-owned businesses. higher than 5% • Maintained average international remittance costs below 3% (2.9% in 2022). Target 13.1: Strengthen resilience and adaptive capacity to climate- GOAL 13: related hazards and natural disasters in all countries We engage with partners across our value • Joined the Climate Innovation for Adaptation & Resilience (CIFAR) Alliance as a founding member to support responsible innovation in Climate Improve education, awareness-raising and human and chain to reduce our climate impact and digital finance for climate adaptation and resilience. Action Target 13.3: institutional capacity on climate change mitigation, build climate resilience. • Engaged with our top 250 suppliers, by spend, to set science-based targets. adaptation, impact reduction and early warning GOAL 17: Target 17.3: Mobilize additional financial resources for developing We pursue partnerships that can amplify countries from multiple sources our capabilities and global reach to • Continued to enhance our services to enable customers in additional markets to make low-cost international money transfers. Partnerships Encourage and promote effective public, public-private advance our business and support an • Maintained multisector partnerships to support underserved communities and protect our customers and communities. for the Goals Target 17.17: and civil society partnerships inclusive economy. 115 116 117 118 Includes corporate, Technical roles include employees in engineering, information technology Through PayPal Business Loans The PayPal-defined estimated net disposable income is the percent of discretionary income remaining for our employees after taxes and typical living expenses are paid. employee and customer and technology operations. Professional is defined as Director roles and and PayPal Working Capital in the This metric is calculated through a third-party model that utilizes independent data on market-based costs across selected geographies. The model was enhanced from contributions. below. Leadership is defined as Senior Director roles and above. U.S., U.K., Australia and Germany. prior periods to incorporate best practices and methodological improvements.
2022 Global Impact Report | PayPal Page 37 Page 39