Planting seed money: Rockefellers and Ikea to give $1bn for clean energy

Their charities are targeting projects in the developing world in the hope that more capital will follow

21 June 2021 - 20:20 By Leslie Kaufman and Jess Shankleman

In a move to kick-start the energy transition globally, the Ikea Foundation and the Rockefeller Foundation have announced that they will each donate $500m (R7.134bn) to support distributed renewable generation projects in developing nations.

Roughly 2.8 billion people worldwide don’t have access to reliable power, according to the UN, but the two philanthropies estimate these funds will bring energy to a billion of them over the next decade. Further, since the partnership will target communities that might otherwise rely on fossil fuels for power generation either now or in the future, they expect that the combined gift will reduce carbon emissions by a billion tons...

This article is free to read if you register or sign in.

If you have already registered or subscribed, please sign in to continue.

Questions or problems? Email or call 0860 52 52 00.