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4 Jun 2015


Ikea pledges 1 billion EUR to renewable energy & climate change

"Ikea pledges €1bn on renewable energy and climate change efforts", 4 Jun 2015

Ikea...plans to spend €1bn ($1.13bn) on renewable energy and steps to help poor nations cope with climate change, the latest example of firms upstaging governments in efforts to slow warming...The investments will be “good for customers, good for the climate and good for Ikea too,” [Ikea CEO] told Reuters. He said the plan was motivated by a desire to tackle climate change, rather than to court favourable publicity...The Ikea Foundation, the charitable arm of the family-owned group, would invest €400m by 2020 in supporting families and communities in nations vulnerable to impacts of climate change such as floods, droughts and desertification...Mindful of environmental concerns, Ikea says it plans to get more of its wood and cotton from sustainable sources...