Cisco Systems released its first annual Citizenship Report. This is a summary of the company’s responsible business practices and social investment programs for the fiscal years 2004 and 2005.
“I believe that those corporations that are most successful have an obligation to give back to the communities in which they operate. ,” said Cisco president and CEO John Chambers.
The Cisco Citizenship Report affirms the company’s commitment to its employees, the environment, and multi-cultural societies around the world. Highlights of the report include the following:
Energy and environment: Decreased energy consumption has saved Cisco and its shareholders more than $6 million a year and reduced annual greenhouse gas emissions by 23,000 tons. In San Jose, 9.5 percent of the energy consumed by Cisco comes from renewable sources, representing approximately 35 GWh each year.
Education and economic development: In partnership with the World Health Organization, the Cisco Health Academy – operating in 24 schools in Egypt and 21 in Jordan thus far – is using the Internet to provide health and wellness information to inhabitants of remote and underserved areas.
Corporate volunteerism: More than 40 percent of Cisco employees volunteered their time in community service during the past year, contributing a total of 235,000 hours. The company has challenged itself to increase volunteerism hours by 10 percent in the fiscal year 2006.
Philanthropy: In FY 2005, the Cisco Systems Foundation awarded $10.5 million to nonprofits for projects around the world, part of a total corporate donation of over $65 million in cash and in-kind contributions.
Cisco and Citizenship: Other facets of corporate citizenship assessed in the report include diversity, product and workplace accessibility, employee development and work-life balance, supply chain management and diversity, corporate governance, human rights, executive compensation, and public policy and political contributions.
“Good corporate citizenship is not a destination, but a long- term commitment for Cisco,” said Tae Yoo, Vice President for Corporate Affairs. “We will continue to listen and learn from our employees, customers, partners, shareholders, and community, and we welcome their input as we continually strive to improve our company practices.”
To read thew complete report, please click here.