UK Govt Policies ‘Preventing’ Ikea From Investing Green Energy Fund Here
Swedish furniture giant Ikea has announced that it will not be spending any of its existing green energy fund (worth £524 million) here in the UK because government policies regarding renewables have made investment difficult.
Speaking to the Huffington Post, head of sustainability with Ikea UK Joanna Yarrow explained that the company has invested €1.5 billion in renewable energy on a global scale in the last 20 years but as it stands right now, the money due to be invested by 2020 would not come to the UK.
She went on to say that it has become more difficult to invest in renewables in this country since the coalition came to power back in 2010, adding that it is Ikea’s belief that renewable energy is essential for making the move to a lower carbon economy.
“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,” Ms Yarrow said.
This comes as Scottish National Party energy spokesman Callum McCaig wrote a letter to the UK government to encourage further support for renewable energy investment, describing the government’s lack of action where this essential sector is concerned as appalling. He continued, saying that the UK government’s record regarding this lack of support is shameful and now Brexit has come along to plunge the energy market in the country into even more uncertainty.
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