This is far more than many countries are doing, and Ikea says if
other firms follow suit, they can force down the price of energy from
renewables.
Over the next five years, the company says it will spend €500m on wind power and €100m on solar.
Its charitable arm will spend a further €400m helping poor countries likely to be worst hit by climate change.
The
announcement comes as governments meeting at a UN conference are
discussing targets on climate change way lower than scientists say is
necessary to ensure a stable climate.
Ikea believes businesses
must take a lead while politicians delay. Peter Agnefjall, its chief
executive, said: “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.”
The firm
plans for all its buildings be powered by renewables. All the lighting
it sells will run on LEDs: the company says it will force down the price
of the bulbs.
The group has invested €1.5bn in wind and solar
since 2009, committing to own and operate 314 offsite wind turbines and
installing 700,000 solar panels on its buildings.
The
announcement is the latest in a series of unpredicted moves on climate
change. The European oil and gas majors, including Shell and BP, have
called on governments to introduce a carbon price to force coal – the
dirtiest fuel - out of the energy mix.
The Saudi oil minister has
said he expects his country to switch from oil to solar in decades to
come. Apple are thought to be developing an electric car. The chief executive of Unilever has called for much more ambitious targets from governments to drive investment in clean technology.
And
this week, leading economists and scientists called for a $150bn Global
Apollo Programme to make renewable energy cheaper than coal.
Some analysts believe actions such as these suggest that the long battle over climate change has reached a turning point.
There
is still huge resistance to change from coal-dependent nations and
firms. One of them, Koch Industries in the US, is supporting its views
with an investment of nearly £1bn in political campaigning in the US
elections.
But a divide is emerging between powerful businesses taking very clear sides on the debate over climate and energy.
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