Ikea is planning to spend €1 billion euro in the coming five years to take-on climate change, according to a BBC report.
The furniture giant informed that it will spend €500 million on wind energy and €100 million on solar energy in the coming five years. The remaining €400 million will be spent on helping poor countries who are struggling with climate change issues, the report said.
Ikea plans to use remewables for all its existing buildings. The company believes if others follow suit, the prices of renewables can be brought down significantly.
Starting in 2009, Ikea Group has so far invested about €1.5 bn in wind and solar energy, added BBC.
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