Ikea Foundation, Rockefeller Foundation to set up $1 bn global platform to fight climate change

CEAI

Synopsis

“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 centralized sources like power plants,” Ikea Foundation said in a statement.

The Ikea Foundation and The Rockefeller Foundation on Monday said they will join forces to set up a USD 1 billion global platform to fight climate change and energy poverty.

“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 centralized sources like power plants,” Ikea Foundation said in a statement.

Ikea Foundation said the new global platform will oversee the organisations’ combined matching funds.

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