18 Jan Ikea challenges UK government to back renewables
Swedish furniture giant Ikea will not spend any of its £524 million green energy fund in the UK, unless the government makes a stronger commitment to renewable energy.
Joanna Yarrow, Ikea UK’s head of sustainability said: “I would say that over the last five or six years it has become increasingly difficult to invest in renewable energy production in the UK.
“The UK has a fantastic wind profile, it is one of the best places in the world to generate energy via wind, but the context that we’re operating in, the political context, doesn’t encourage that investment. So we’re having to take it elsewhere.”
Although, Yarrow did leave the door open for the UK’s chances of securing the green energy fund concluding: “We would like to see that change.”
This company statement comes after a recent Green Alliance report predicted that renewable energy projects in the UK would decline by 95% between 2017 and 2020.
Ikea has reportedly spent more than €1.5bn over the last 20 years on tackling climate change and has another half a billion to invest by 2020.