GHG Emissions, Finance, Sourcing Renewables - April 22, 2021
Cisco Foundation to Fight Climate Change With $100 Million
The Cisco Foundation will invest $100 million over ten years to fund nonprofit grants and solutions that fight the growing climate crisis. The Foundation's endowment, funded by Cisco, will help reverse the impact of climate change and set ambitious goals to power a more sustainable future.
"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," Peter Tavernise, Executive Director of the Cisco Foundation, said in a statement.
The Cisco Foundation's $100 million investment over ten years will reach more people with education and engagement around climate solutions that drive forward net zero goals, eco-awareness, personal habit change, and effective collaborative action.
Cisco will choose its nonprofit partners based on their ability to impact, measure, and report outcomes in energy efficiency, capturing or sequestration of greenhouse gas and carbon emissions, increased access to and creation of green jobs, and change in community behavior that leads toward carbon footprint reduction, community climate resilience, and a positive vision of a shared climate future.
The Foundation plans to work closely with the organizations receiving funding to ensure that they measure and report the impact of their programs. Cisco Foundation's approach follows a model of early-stage funding that shows a strong potential for sustainability and scalability.
Cisco has achieved 100% renewable energy in several countries around the world. The company 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 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 the company’s supply chain.