This reports the actual value of the local peer identity used for this Phase-1 control tunnel, per its description - the specific string or address corresponding to the identity type reported in cisgIpsSgTunLocalType. Together the two objects tell an admin exactly what identity this device presented to this particular peer, which is essential when debugging an authentication failure that requires comparing what was sent against what the remote peer's policy expects to see. If LocalType reads 'fqdn' and this reads 'vpn-hub.example.com', an admin can directly verify that string matches what's configured in the remote peer's crypto identity policy.