The charitable arm of San Francisco-based technology giant Cisco Systems has pledged to invest $100 million over the next decade to help reverse the impact of climate change. The funding is aligned with the company's goal to reduce emissions, waste, and its sprawling global supply chain's carbon footprint.
"What we're looking for are companies that are, of course, technology-focused that will participate in either the capture of already-existing greenhouse gasses, the reduction of future greenhouse gasses, the promotion of green jobs, and just the broader community awareness and education," Cisco CFO Scott Herren told Cheddar.
Outside of that criteria, the Cisco Foundation is seeking "innovative and/or imaginative climate solutions that drive forward net zero or circular/regenerative economies," according to a release.
"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, in a statement.
Herren said the company's focus on climate change precedes this latest commitment and indeed was informed by earlier efforts to clean up its sprawling supply chain and product line, which includes telecommunications equipment, networking hardware, and even software.
The company said it's currently on track to design 100 percent of new products and packaging to incorporate "Circular Design Principles — the idea that a product has a set lifecycle designed around future reuse or recycling — by 2025.
The next step is tackling its supply chain, "because a lot of the carbon footprint that we have as a company really happens after the product leaves the door," Herren said.
He added that this will require close collaboration within the industry, as many of Cisco's competitors use the same suppliers.
"So to the extent that we can have a consistent set of requirements on those suppliers, it gives us all more opportunity to bring the positive change that we want to see," Herron said.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
Hear from Gabino & Stephen Roche on Saphyre’s institutional AI platform that centralizes pre‑ and post‑trade data, redefining settlement speed and accuracy.
