Cisco, a networking solutions corporation headquartered in the United States, has pledged to invest $100 million over the next ten years to help mitigate the effects of climate change, according to the company.
This comes as the world celebrated Earth Day, with Cisco announcing that the Cisco Foundation will finance non-profit grants and impact investments.
According to Peter Tavernise, executive director of the Cisco Foundation, “the]commitment will build on the foundation’s approach to funding that drives positive impact by supporting early-stage, technology-based solutions with the potential to scale and be sustainable.”
The Cisco Foundation’s strategy is based on a tried-and-true model for financing early-stage solutions with a high likelihood of long-term viability and scalability.
“From a Cisco standpoint, we recognize that in order to fulfill our mission – to power an inclusive future for everyone – we must address the increasing inequalities caused by climate change. We also recognize the importance of our technology, business practices, and collaborations in this endeavor. A problem as large as climate change would necessitate the participation of all of us. That’s why, according to Fran Katsoudas, Cisco’s chief people, policy, and mission officer, “we’re so proud to fund bold ideas and find ways for communities to engage to impact change.”
Cisco and the Cisco Foundation collaborate on corporate social responsibility initiatives with non-profits, non-governmental organizations, and community-based organizations.
The organization identifies three primary areas for investment, citing innovative and/or inventive climate solutions that advance net zero or circular regenerative economies.
Second, the funds must be used to support community education and participation on climate change, environmental awareness, and individual habit change as well as successful collaborative action.
Finally, Cisco says it will collaborate closely with the organizations that receive grants to assess and report on the impact of their programs.
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