Equinix has announced the launch of a global foundation focused on the advancement of digital inclusion – from access to technology and connectivity to the skills needed to thrive in today’s digitally driven world.
The Equinix Foundation is hoping to provide funding to organisations working to ensure equitable and inclusive access to technology, connectivity and education. It will also assess opportunities in environmental sustainability, an area of strategic importance to the company.
An initial financial commitment of $50 million in funding is being committed through contribution of Equinix shares for the Equinix Foundation that will allow it to be a self-sustaining foundation. In alignment with guidelines governing private foundations, the Equinix Foundation Board of Directors will determine the Foundation’s annual giving budget each year, which is expected to cover grantmaking, employee donation matching, and crisis response donations. The Foundation also intends to make impact investments with interest income earned contributing to Foundation assets while simultaneously supporting social programs.
Equinix employees will play a key role in shaping the Equinix Foundation, helping to identify and support community-driven nonprofits and social enterprises dedicated to closing the digital divide locally and globally. Equinix is currently partnering with dozens of nonprofit organizations working to bridge the digital divide, including BigHope, CLAP-TECH, and World Pulse.
Charles Meyers, President and Chief Executive Officer, Equinix, said: “At Equinix, our purpose is to be the platform where the world comes together, enabling the innovations that enrich our work, life and planet. The Equinix Foundation is an important vehicle to deliver on our ‘In Service To’ commitment – to one another, our customers, our investors and the communities in which we operate. We are excited that through the Foundation, we’ll also advance our future-first commitment to build a better, more inclusive, more sustainable world, while harnessing and amplifying the passion of our people to help close the digital divide in our communities and beyond.”
The Foundation is an important part of the company’s Future First sustainability strategy, helping to pave the way to a more accessible, equitable and sustainable future for communities around the world.
Last year, Equinix became the first in the data center industry to commit to globally reaching climate-neutral by 2030, backed by science-based targets and an aggressive sustainability innovation agenda. Aligned with the Paris Climate Agreement, this is an important step to ensure that Equinix continues to advance investments and innovations to reduce greenhouse gas emissions and keep global warming to 1.5 degrees Celsius.
The Equinix Foundation will help accelerate the company’s commitment to advancing the United Nations Sustainable Development Goals (UNSDGs), specifically Goal 9: Build resilient infrastructure, promote sustainable industrialisation and foster innovation.