Ikea Refuses To Spend £524m Green Energy Pot In Britain Until Government Commits To More Subsidies

  • Date: 16/01/17
  • Huffington Post

Ikea has said it won’t spend a single penny of its mammoth £524m (€600m) green fund in Britain until the government makes it easier to invest in renewable energy.

In a rare attack on government policy, the Swedish flatpack giant declared it would have to go elsewhere to finance projects, including wind farms, due to the UK’s “political context”.

Joanna Yarrow, Ikea UK’s head of sustainability, told The Huffington Post UK that the furniture firm invested €1.5 billion in renewable energy across the world in the last two decades, but that as things stand, an additional half a billion pounds to be spent by 2020 would not come to Britain.

“The UK has a fantastic wind profile, it is one of the best places in the world to generate energy via wind, but the context that we’re operating in, the political context, doesn’t encourage that investment. So we’re having to take it elsewhere.” Yarrow said. “We would like to see that change.”

Yarrow told HuffPost UK it had become markedly more difficult to invest in renewable energy since the Coalition Government came to power in 2010.

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