IKEA Group is leading the way on renewable power with a RE100 commitment to using 100% renewable electricity by 2020. Here, Peter Agnefjӓll, CEO of IKEA Group, blogs about the need for an ambitious and robust agreement in Paris.
At COP21 companies, cities, investors, regions and representatives of civil society are showing that the low-carbon economy is not something that has been imposed on us – but is being created by us. It is the only way forward because it makes perfect sense for everyone.
IKEA Group has been investing significantly in renewable energy to meet our goal to produce as much renewable energy as we use in our operations – in addition to other climate actions. It is an opportunity to contribute to the shift to a low-carbon economy, and makes sense financially too. This year IKEA Group announced a further $674 million commitment to renewable energy, building on the $1.7 billion invested in wind and solar since 2009. Investing in clean energy gives us control over our energy costs and reduces our exposure to fluctuating energy prices.
We are not the only business committed to 100% renewable energy and investing in smart ways to reduce our emissions. It is fantastic to see momentum building around the RE100 initiative, as more and more companies make the commitment. Together we are creating a clean economy across borders.
Last year, we helped set up a powerful coalition of organizations that are working with thousands of businesses on climate change. ‘We Mean Business’ now has 335 companies that have committed to over 780 climate actions. These actions are accelerating positive change.
Evaluating the results of our actions will be crucial to understanding where we are each year and how we can continue to improve our strategy. And with thousands of other great businesses doing just the same, the actions we are taking today will shape the way we live in the future.
The actions reflect the level of ambition needed in the Paris agreement. An agreement that sets a long-term goal with a clear roadmap for global decarbonization to 2050 and beyond. And that includes a process for ensuring commitments are met and strengthened to meet the 2°C goal. An ambitious agreement will provide the framework needed for business to transform their operations and invest in the products and services for the future.
Let’s go all in to tackle climate change.
This piece was originally published on Action Day, December 5 2015, in the We Mean Business COP21 special series The Bottom Line.