IKEA Foundation commits another €300 million to fighting climate change
September 27, 2018
NEW YORK (26 September, 2018) — IKEA Foundation has announced plans to extend its commitment on climate-related programme to a total of €700 million till 2023. This is an additional €300 million on top of the original €400 million which was already pledged for the period 2015 to 2020, and demonstrates the IKEA Foundation’s commitment to make fighting climate change one of its core focuses.
The new funding will be spent on programmes that reduce carbon emissions and that help communities adapt to a changing climate and get access to renewable energy.
The announcement was part of a $4 billion USD global commitment from 29 philanthropies at the Global Climate Action Summit (GCAS) in San Francisco. It comes ahead of Climate Week NYC (24–30 September), which takes place annually in New York during the UN General Assembly.
IKEA Foundation CEO Per Heggenes said: “This new funding brings the IKEA Foundation’s total climate-related commitment to €700 million between 2015 and 2023, showing our determination to protect our planet while creating a better everyday life for families in vulnerable communities.”
The new funding will build on the IKEA Foundation’s previous climate action work in partnership with organisations including We Mean Business, Purpose Climate Labs and SHINE.
This year the IKEA Foundation has also given new grants to European Climate Foundation, the Climate Action Network (CAN) and Shakti Sustainable Energy Foundation.
In the lead up to the Conference of Parties (COP 24) climate change meeting, which takes place in Poland from 3–14 December, the IKEA Foundation is calling on other philanthropic and business leaders to deepen their commitment to achieving the Paris Climate Agreement targets.
About IKEA Foundation
The IKEA Foundation (Stichting IKEA Foundation) works to create a better everyday life for the many people. As the philanthropic arm of INGKA Foundation, the owner of the IKEA Group of companies, we focus on improving the lives of vulnerable children by enabling their families to create sustainable livelihoods, and to fight and cope with climate change. Learn more at www.orgikeafo-shemek.savviihq.com and www.facebook.com/IKEAfoundation