IKEA spends big to help poorer nations with renewable energy, climate change

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KEA, the world's biggest furniture retailer, plans to spend 1 billion euros ($1.13 billion) on renewable energy and steps to help poor nations cope with climate change, the latest example of firms upstaging governments in efforts to slow warming.

Chief Executive Peter Agnefjall said the measures would "absolutely not" push up prices at the Swedish group's stores. The investments will be "good for customers, good for the climate and good for IKEA too," he told Reuters.

He said the plan was motivated by a desire to tackle climate change, rather than to court favourable publicity. "Getting that message out to the customers is secondary," he said.

An internal review last year showed only 41 percent of its customers see IKEA as a company that "takes social and environmental responsibility", below its goal of 70 percent by 2015.

Read The New York Times report - “IKEA Pledges 1 Billion Euros to Help Slow Climate Change”.