Cisco Foundation will be investing $100 million over ten years to fund nonprofit grants and impact investments that support bold climate solutions as well as community education and activation. The Foundation’s endowment is funded by Cisco.
“Today’s commitment will build on the Foundation’s approach to funding that drives meaningful impact by supporting early-stage, technology-based solutions with the potential to scale and be sustainable,” said Peter Tavernise, executive director of the Cisco Foundation.
To achieve its targets, the foundation will focus on innovative and/or imaginative climate solutions that drive forward net zero or circular/regenerative economies. It will also address community education and engagement around climate, eco-awareness, and working toward individual habit change and effective collaborative action.
Determinations on nonprofit partners will be based on their ability to impact, measure, and report outcomes such as:
- Reducing, capturing and/or sequestration of greenhouse gas and carbon emissions
- Increased energy efficiency
- Creation of, and increase in, access to green jobs
- Change in community behavior that leads to carbon footprint reduction, community climate resilience, and creation of local/regional vision of the shared climate future that we all want
“From a Cisco perspective, we know that in order for us to live up to our purpose – to power an inclusive future for all – we must combat the rising inequality that stems from climate change. We also know that our technology, our business practices, and our partnerships are crucial to this effort. A challenge as big as climate change will take all of us. That’s why we’re so proud to fund bold solutions and find ways for communities to engage to affect change,” said Fran Katsoudas, Chief People, Policy & Purpose Officer, Cisco.
Cisco says it has achieved 100% renewable energy in several countries around the world and is on track to reach its goals to use electricity generated from renewable sources for at least 85% of Cisco’s global electricity in 2022 and to reduce its Scope 1 and 2 GHG emissions by 60% in 2022 (compared to 2007). Cisco is also working with its suppliers to reduce emissions throughout our supply chain.
“Cisco has long been a leader in embedding environmental, social and corporate responsibility into our business practices and products. We’re proud to further our commitment by taking this next step to help address the climate crisis,” said Scott Herren, chief financial officer, Cisco. “This is a moment where we can, should, and will put dollars towards supporting and reinforcing our company’s purpose.”