Ikea to invest £ 3.4bn in renewable energy by 2030 | Business

IKEA plans to accelerate its investment in renewable energy by spending an additional € 4bn (£ 3.4bn) by the end of the decade to build wind and solar farms, fitting its stores with electric vehicle charge points.

The Ingka Group, the owner of most of the Ikea Group, spent € 2.5 billion over the last decade to install 935,000 solar panels on the roofs of its stores and warehouses, and to invest in 547 wind turbines and 10 solar parks using their own Covered.

The fresh investment will bring Ikea’s clean energy spending to € 6.5bn by 2030 and will include its renewable energy generation and electric vehicle charging infrastructure and its first steps in energy storage to help make better use of hydrogen fuel. Fleet of delivery vans.

Ingka Group chief executive Jasper Brodin said Ikea’s growing clean energy ambitions over the next 10 years would coincide with a significant decade in tackling the climate crisis.

“We are in the most important decade in the history of mankind – climate change is no longer a distant threat, and we all must do our job to limit global warming to 1.5C,” he said.

“Inactivity costs too much and brings substantial risk to humanity and our business. We know that with the right actions and investments we can be a part of the solution and minimize the impact on the home we share – our planet – giving evidence of our business in the future. For us, it is good business to be a good business, ”Brody said.

IKEA was one of the early adopters of climate action among major corporations. It planned to generate more renewable electricity by its use in 2016 by 2020, and vowed to become a “carbon neutral” company by 2030 in 2019.

The Swedish furniture giant plans to focus on a share of new renewable energy investments by 2025, equating all of its stores, warehouses and shopping centers in the country to run entirely on renewable energy. Ikea’s parent company has also recently acquired a 49% stake. Eight solar farms in Russia, which will provide enough electricity to power all 17 Ikea stores.

The company’s Chief Sustainability Officer, Pia Heidenmark Cook, said: “We have already come a long way, and in this critical decade we need to come together to accelerate a fair transition from a renewable energy-driven society . “

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