Companies continue putting collective efforts towards sustainability!
Now, the Ikea Foundation and The Rockefeller Foundation set up US $ 1 billion global platform to fight climate change and energy poverty.
To facilitate the joint investment, The Rockefeller Foundation will incubate the platform in RF Catalytic Capital Inc., which the foundation launched in 2020.
Ikea Foundation said in a statement, “The platform – launching this year – aims to empower 1 billion people with distributed renewable energy (DRE). This is renewable energy generated from sources such as mini-grid and off-grid solutions, located near the point of use, rather than centralised sources like power plants.”
It aims to deliver clean and reliable power to the 800 million people worldwide who lack electricity, and a further 2.8 billion who have unreliable access. It will be run as a public charity to manage a concerted effort to rapidly channel development funds to life-changing projects on the ground.
Per Heggenes, CEO IKEA Foundation said, “If global energy consumption doesn’t change from fossil fuels to renewable energy, we will not meet the Paris Agreement ambitions and millions of families will be left behind in poverty. We need to be honest and recognise that the current approach is not delivering the impact the world needs in the time that we have.”
Rajiv J. Shah, President, The Rockefeller Foundation said big, bold and pioneering collaboration and investment is required not only for the short term, but also the long term, to galvanise a better future.