An important input to our CSR strategy and reporting is an ESG materiality assessment. The assessment helps us understand ESG topics that are most important to our stakeholders and continuously assess our strategy and commitments. We conduct a full assessment every two years. In years that we do not conduct a full assessment, we conduct an internal assessment refresh. This helps us validate priorities relative to business risks and opportunities.
In fiscal 2021, we completed a full ESG materiality assessment. This assessment included using big data and input from a broader set of stakeholders to understand priority ESG topics. The analysis consisted of three phases: 1) benchmarking, analysis of global trends, and identification of ESG topics and definitions; 2) interviews with key stakeholders and 3) in-depth analysis and summary of findings. Stakeholders included investors, employees, Cisco executives, customers, and thought leaders.
We identified 18 ESG topics that are important to our stakeholders and, of these, four emerged as the highest:
- Climate change and GHGs
- Corporate governance
- Human rights and working conditions in the supply chain
- Inclusion and diversity
In addition to and in support of our formal ESG materiality assessment, Cisco teams regularly gather feedback on emerging issues and the quality of our reporting and performance from sources including stakeholder inquiries and key ratings and rankings.
- CSR thought leaders
- Employees and Cisco Executives
- Governments and regulators
- Industry leaders
- Nonprofit organizations
- Sales channel partners