The Cisco Foundation has announced that it is committing $100 million over ten years to address the growing climate crisis. The Foundation’s endowment is funded by Cisco. This commitment will fund nonprofit grants and impact investments that support bold climate solutions as well as community education and activation.
“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 Reem Asaad, Vice President, Cisco Middle East and Africa.
There is a consensus among citizens around the world that action is needed to combat climate change. And yet many citizens feel disengaged, either because they don’t think that one person can make a difference or because they are paralyzed by the enormity of the crisis. This coupled with the fact that less than two percent of all philanthropic dollars are being spent to address the fight against climate change means that many bold climate solutions are not being developed due to a lack of action and investment.
The Cisco Foundation’s commitment to spend $100 million over ten years aims to help address this gap by focusing its funding on:
- Innovative and/or imaginative climate solutions that drive forward net zero or circular/regenerative economies.
- Community education and engagement around climate, eco-awareness, and working toward individual habit change and effective collaborative action.
Cisco will work closely with the organizations receiving funding to measure and report on the impact of their programs. The Cisco Foundation’s approach is built on an existing, proven model of funding early-stage solutions with high-potential for sustainability and scalability.
Determinations on nonprofit partners will be based on their ability to impact, measure, and report outcomes like:
- 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
Cisco is committed to building a sustainable future by reducing emissions, reducing waste, building more efficient products, and by setting ambitious, but achievable goals.
- Already, Cisco 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 is committed to designing its products and packaging for reuse, repair and resource efficiency. Cisco is on track to design 100% of new Cisco products and packaging to incorporate Circular Design Principles by 2025. Cisco is also working towards delivering its 100% take back pledge made by CEO Chuck Robbins at WEF 2018.
- Cisco’s products are built with sustainability in mind – whether that be smart city and smart building technologies that reduce energy consumption, or remote collaboration tools that allow people to work from anywhere, Cisco technologies are helping to reduce emissions.
Learn more about Cisco’s effort to power a more sustainable future.
Source: Cisco Press Release