Cisco: Three Years Of Progress On The Pathway To Net Zero

(MENAFN- 3BL) Climate change is both an urgent issue needing immediate action and a topic that requires long-term planning for positive transformation. Balancing these two horizons can be a challenge and key to making progress is defining a north star. Three years ago, Cisco announced its north star: a goal to reach net zero greenhouse gas (GHG) emissions across our value chain by 2040, and in 2022 that goal was approved by the Science-Based Targets initiative (SBTi). In 2023, we revealed The Plan for Possible , Cisco's next generation environmental sustainability strategy. Aligned with the work we will do to reach net zero, one of the key pillars in our strategy is accelerating the transition to clean energy.

As we celebrate our three-year anniversary, we want to highlight some of the progress we've made so far and look ahead to what solutions might be available to help us, and the planet, on our journey to net zero.

Our journey so far

In alignment with climate science, our net zero goal encompasses our value chain, which includes both our suppliers' and our customers' use of energy. Here are a few ways Cisco has been addressing this and actions you may consider to reduce your organization's footprint:

• Direct operational emissions: We are increasing the energy efficiency of our buildings, with a focus on electrification , to reduce emissions from our operations. We have also been working to transition our vehicle fleet to electric vehicles (EVs).
• Indirect operational emissions: Cisco joined the RE100 initiative , which brings together businesses committed to sourcing 100 percent renewable electricity. Beyond helping us address our own goals, joining RE100 supports our ambition to increase clean energy access and contributes to private sector demand for renewables.
• Value chain emissions: We also set a goal that 80 percent of Cisco component, manufacturing, and logistics suppliers by spend will have a public, absolute GHG emissions reduction target by fiscal year (FY) 2025. As of FY23, 92 percent of these suppliers have a public, absolute GHG reduction goal.

Note: Direct operational emissions are Cisco's Scope 1 emissions; indirect operational emissions are Cisco's Scope 2 emissions; value chain emissions are Cisco's Scope 3 emissions, as defined by the Greenhouse Gas (GHG) Protocol . Learn more about how corporate GHG emissions are calculated in this blog .

What the future may bring

In our work to advance Cisco's net zero goal, we are encountering many new opportunities that could potentially help other companies, countries, and even individual cities reach their net zero goals as well. Here are a few notable examples:

• Artificial Intelligence (AI) and sustainability: As AI adoption spreads across different sectors , it opens numerous opportunities for climate change mitigation and adaptation through predictive analytics, data analysis, and machine learning. For example, AI can help reduce energy and water use through real-time monitoring and control.
• Climate technology investments: Climate technology aims to find innovative solutions to climate change, like smart grids that monitor and manage the distribution of electricity more efficiently, and devices that capture CO2 emissions. Climate investing has grown over the past few years, with more than 330 new sustainability, ESG (environmental, social, and governance), and impact funds launched from 2019 through 2022. Globally, annual clean energy technology investments are expected to exceed $900 billion by 2030 , helping to spur innovation.
• Accelerating the transition to clean energy: Clean energy adoption is on the rise. Wind and solar energy overtook fossil fuel power in the EU for the first time for the first six months of 2024, and the International Energy Agency (IEA) now projects that demand for certain fossil fuels will peak this decade even without any new climate policies. Increasing the use of renewables, improving energy efficiency, reducing methane emissions, and enhancing electrification can achieve over 80% of emissions reductions needed by 2030.

Working together toward net zero

Progressing toward net zero is a task that requires the collective effort of individuals, businesses, and governments. We are proud to be leading this important work for Cisco, and to be collaborating with partners, customers, suppliers and other stakeholders to turn the vision of a net zero future into reality.

Visit Cisco's ESG Reporting Hub to learn more about our environmental goals.

View original content here.

MENAFN25092024007202015466ID1108714982