The Cisco Foundation has announced a ten-year, $100 million commitment in support of efforts to address the impacts of climate change.
With the aim of advancing net-zero or circular/regenerative economies and engaging the public around climate action, the foundation will award grants to nonprofits and make impact investments focused on technology-based solutions, greenhouse gas emissions (GHG) and carbon reduction, climate resilience, green jobs, and community education and activation. Nonprofit partners will be selected based on their ability to impact, measure, and report outcomes related to the reduction, capture, and/or sequestration of greenhouse gas and carbon emissions; increased energy efficiency; the creation of, and increased access to, green jobs; and change in community behavior that leads to carbon footprint reduction, community climate resilience, and the creation of local/regional visions of a shared climate future.
According to the foundation, many Americans feel disengaged from the climate problem, either because they don't think one person can make a difference or because they are paralyzed by the enormity of the challenge. This disengagement, coupled with the fact that less than 2 percent of philanthropic dollars currently are being spent on efforts to address climate change, has hampered investment in and action on bold climate solutions.
"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 Cisco Foundation executive director Peter Tavernise.
"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," said Fran Katsoudas, Cisco's chief people, policy and purpose officer. "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 [effect] change."