Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
IKEA Canada has bought a 46-megawatt, 20-turbine wind farm in Pincher Creek, Alberta, making it the largest wind farm owned by a Canadian retailer.
It’s expected to generate 161 gigawatt hours each year – that’s more than double the total energy consumption of IKEA Canada, and 60% of IKEA’s electricity consumption in North America.
The investment will help the company achieve its goal of energy independence by 2020, IKEA noted in a news release.
“IKEA Canada’s investment in renewable energy is a win-win-win,” said Kerri Molinaro, president of IKEA Canada. “We are able to support the transition to a low-carbon future, reduce our energy and operating costs, and pass those benefits on to our customers by continuing to offer high quality home furnishings at low prices.”
Using Siemens turbines, Mainstream Renewable Power will build and operate the farm which is expected to be fully operational by this time next year.
IKEA is also investing in solar energy, with three Ontario stores already sporting solar panels. The company has already invested in wind farms in seven European countries and installed more than half a million solar panels in nine countries.
3 Comments
David_R59
Is this the same wind-farm that various other utility companies have “bought”? The City of Calgary bought one a few years back so that they could get residents in Calgary to voluntarily pay more for their utility bills.
How many of these wind-farms are there in the Pincher Creek area?
Kaj Embrén
One of the motives when you look at the IKEA policy on sustainability and promotion of Climate Change actions is their long term thinking and integration of its policy into their business model. IKEA founder (Ingvar Kamprad) has also been keen of saving cost and make things efficient to a low cost. The first step of a more active stand on Climate Change was when they went into the Program of BLICC – Business Leaders Initiative on Climate Change in year 2000. IKEA was also a member of Respect Table and delivered a report to the COP meeting in Copenhagen – http://www.kajembren.com/wp-content/uploads/2012/08/Road-to-Copenhagen-Respect-Table.pdf Since then they have been taken step by step action – from measure its climate footprint to creation of an Investment fund on Green Tech – http://www.greentechab.com/company. The Head of IKEA Sustainability team today is Steve Howard former CEO of The Climate Group.
IKEA was also one of the first company that started an educational programme based on the 4 system conditions developed by the Natural Step in the 1990 – http://www.naturalstep.org. You can say with good reason that IKEA have been a first mover in the market. If you would like to know more about me and my company Respect that advise IKEA in this field from the beginning you can visit http://en.respectclimate.se or read some of my blogs at http://www.kajembren.com
Gary
Does it come in a flat pack?