Cisco Pledges $100 Million to Address Climate Change
The Cisco Foundation, with an endowment funded by networking hardware, software and solutions provider Cisco, announced today a commitment of $100 million over ten years, aimed at addressing the climate crisis and helping to reverse the impact of climate change.
The commitment will fund nonprofit grants and impact investments that support bold climate solutions as well as community education and activation. Funding efforts will focus on innovative climate solutions that drive forward net zero or circular/regenerative economies, as well as community education and engagement around climate, eco-awareness, and working toward individual habit change and effective collaborative action.
Fran Katsoudas, Chief People, Policy & Purpose Officer, Cisco, said:
“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.”
The Foundation stated that its approach is built on an existing, proven model of funding early-stage solutions with high-potential for sustainability and scalability. Determinations will be based on partners’ ability to impact, measure, and report outcomes such as reducing, capturing or sequestering greenhouse gas and carbon emissions, increased energy efficiency, creation of green jobs, and changes in community behavior that leads to carbon footprint reduction or community climate resilience.
Peter Tavernise, Executive Director of the Cisco Foundation, said:
“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.”
According to the Foundation, Cisco will work closely with the organizations receiving funding to measure and report on the impact of their programs.
Scott Herren, Chief Financial Officer, Cisco, said:
“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. This is a moment where we can, should, and will put dollars towards supporting and reinforcing our company’s purpose.”