- IKEA and Rockefeller Foundations plan to set up a $1bn DER platform.
- The platform aims to cut emissions by 1 billion tonnes.
- Both foundations will make matching contributions to the foundation.
The IKEA Foundation and the Rockefeller Foundation have announced that they plan to establish a $1 billion (€841m) distributed renewable energy platform later this year.
The Rockefeller Foundation will incubate the platform in its RF Catalytic Capital Inc, which launched last year. The new platform will aim to support the deployment of off-grid clean energy systems that will help cut 1 billion tonnes of greenhouse gas emissions;
Both foundations plan to make matching funding contributions to the platform, operating as a public charity. The IKEA Foundation is funded by the INGKA Foundation, the sole owner of INGKA Group. The INGKA group owns and operates over 370 IKEA stores in 30 countries.