PayPal Holdings, released its third annual Global Impact Report, publishing its environmental, social, and governance (ESG) strategies and activities of its global operations for 2019. The Global Impact Report highlights progress PayPal has made to advance financial health, promote an inclusive and diverse workforce, minimize its environmental impact, and work to ensure that its business operates responsibly.
Read More: Crypto Gazette Brings Exciting News to Crypto Enthusiasts: Ledger Nano X Giveaway
As the company took action to address the impact of the COVID-19 global pandemic, PayPal reaffirmed its commitment to its employees, customers, and communities around the world. The company put measures in place to protect the physical well-being and financial security of its employees through remote working policies and increased paid time off through a Crisis Leave Program. It took steps to help its more than 24 million merchants impacted by COVID-19, including waiving certain fees and deferring repayments on select business loans. Additionally, PayPal supported community relief efforts through new employee giving programs, launched fundraising campaigns around the world through PayPal Giving Fund, and made donations to relief efforts in highly impacted regions. The company also worked with governments and regulatory agencies to efficiently provide loans to small businesses through the U.S. Small Business Administration (SBA) Paycheck Protection Program and distribute government stimulus payments to consumers in the U.S.
Read More: Patientco Achieves HFMA Peer Review Designation
“The responsibility of corporations has moved beyond simply delivering shareholder profits. The growing expectation from stakeholders is that companies need to take action to effect positive social and environmental impact. Purpose and profit are becoming increasingly intertwined,” said Dan Schulman, president and CEO of PayPal. “Given the challenges the world is facing as a result of the COVID-19 pandemic, we are committed to supporting the needs of our employees, customers, and communities and helping them navigate this unprecedented time. Our products and services are perhaps more critical than ever before, and our PayPal community has come together during this crisis to take meaningful action to help the most vulnerable in our society.”
