IKEA Group and IKEA Foundation commit EUR 1 billion to accelerate the transition to a low-carbon economy and to support the communities most at risk
by EPR Retail News Editors
Conshohocken, PA, 2015-6-8 — /EPR Retail News/ — In this critical year for climate action, IKEA Group and IKEA Foundation are making bold new commitments to accelerate the transition to a low-carbon economy and to support the communities most at risk. Announced today, the EUR 1 billion total is made up of an IKEA Group commitment of EUR 600 million for investment in renewable energy and a EUR 400 million IKEA Foundation funding commitment to support communities most impacted by climate change. The announcements coincide with a key meeting in Bonn, where governments are preparing a global climate agreement to be negotiated at the COP21 meeting in Paris in December.
IKEA Group – The EUR 600 million commitment to renewable energy, announced today by the IKEA Group, builds on the EUR 1.5 billion invested in wind and solar since 2009. The company is on track to become energy independent, producing as much renewable energy as it consumes in its buildings, and has already committed to own and operate 314 offsite wind turbines and installed 700,000 solar panels on its buildings. The majority of the new commitment (EUR500 million) will be invested in wind energy and around EUR 100 million is expected to be invested in solar up to 2020.
"Climate change is one of the world's biggest challenges and we need bold commitments and action to find a solution. That's why we are going all in to transform our business, to ensure that it is fit for the future and we can have a positive impact. This includes going 100% for renewable energy, by investing in wind and solar, and converting all our lighting products to affordable LED bulbs, helping many millions of households to live a more sustainable life at home." Peter Agnefjäll, President and CEO, IKEA Group.
IKEA Foundation – Building on many years of supporting children and families in some of the world's poorest communities, the IKEA Foundation also announced its own commitment of EUR 400 million through 2020 to support families and communities who are most impacted by climate change.
The IKEA Foundation funds programmes to create long term opportunities for children living in some of the world's poorest communities. In 2014, the IKEA Foundation contributed €104 million to more than forty partner organizations running programmes to benefit children in 46 countries. Since 2009, programmes funded by the IKEA Foundation have helped more than 178 million children worldwide. The new funding will help poor communities build resilience to climate change and improve lives by adopting renewable energy technologies in homes, schools and businesses.
"We're working toward a world where children living in poverty have more opportunities to create a better future for themselves and their families. Tackling climate change is critical to achieving this goal." Per Heggenes, CEO of the IKEA Foundation
About the IKEA Group
Our vision is to create a better everyday life for the many people and we offer well designed, functional and affordable, high quality home furnishing, produced with care for people and the environment. The IKEA Group has 322 stores in 28 countries. In addition there are more than 40 stores run by franchisees outside the IKEA Group. The IKEA Group had 716 million visitors to the stores during FY14 and more than 1.5 billion visitors to the web. For more information, please visit www.IKEA.com
Jamie Rusby, jamie.rusby@ikea.com, +46 723 527 369
About IKEA Foundation
The IKEA Foundation is the philanthropic arm of INGKA Foundation, the owner of the home furnishings company IKEA Group. We aim to improve opportunities for children and youth in some of the world's poorest communities by funding holistic, long-term programmes that can create substantial, lasting change. The IKEA Foundation works with strong strategic partners applying innovative approaches to achieve large-scale results in four fundamental areas of a child's life: a place to call home; a healthy start in life; a quality education; and a sustainable family income. Learn more at www.ikeafoundation.org and www.facebook.com/IKEAfoundation
Radu Dumitraşcu, radu.dumitrascu@ikeafoundation.org, +31 6 556 98 570
This entry was posted in Business, Environment, Financial, Management, Retail, Retailer and tagged IKEA Foundation, IKEA Group, low-carbon economy, Per Heggenes, Peter Agnefjäll. Bookmark the permalink.