Ikea Invests €1.5 Billion to Phase Out Fossil Fuels by 2030

Ingka Group, the largest IKEA retailer, is investing €1.5 billion to accelerate its transition to renewable energy and reduce its climate footprint by 85% by 2030. This builds on a previous €7.5 billion commitment, including €4 billion in off-site renewable energy. The investment will focus on upgrading existing IKEA units with energy-efficient systems and renewable heating and cooling. With 96% of its retail sites already using renewable electricity, the company aims to further cut emissions and lower long-term costs. Ingka Group calls for greater government action on renewable energy, energy efficiency, and the simplification of permitting processes to support the global transition away from fossil fuels. Resources: https://esgnews.com/ikea-invests-e1-5-billion-to-phase-out-fossil-fuels-by-2030/