Grants and Investments from the Cisco Foundation Will Fund Climate Projects and Technologies to Power a Sustainable and Inclusive Recovery
SAN JOSE, Calif., April 21, 2021 /PRNewswire/ --
Today the Cisco Foundation 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 Peter Tavernise, Executive Director of the Cisco Foundation.
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:
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 such as:
"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. "We will continue to work towards reducing our carbon footprint while creating innovative products and business models that drive forward sustainable and climate conscious solutions."
Cisco is committed to building a sustainable future by reducing emissions, reducing waste, building more efficient products, and by setting ambitious, but achievable goals.
"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."
Learn more about Cisco's effort to power a more sustainable future.
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SOURCE Cisco Systems, Inc.