The IKEA Foundation has announced that it is supporting the We Mean Business coalition with a €40 million grant—the second-largest it has ever made.

The grant will inspire business to take action to cut the emissions that cause climate change—for example by sourcing 100% renewable power—to help reduce the risks all communities face from a changing climate.

Elizabeth McKeon of IKEA Foundation says: “We’re supporting the We Mean Business coalition to help it promote business action on climate change and create a safer, more prosperous future for children and families living in some of the world’s poorest communities.”

The grant is a strong vote of confidence in the power of the coalition to encourage business action, drive policy ambition and speed up the transition to a low-carbon economy.

The We Mean Business coalition works with thousands of the world’s leading businesses to encourage governments to meet their commitments under the Paris Climate Agreement and so avoid dangerous climate change.

We’re delighted to join the community of funders supporting action this work. However, there is much more to do. Less than 2% of all philanthropic funding is allocated to climate-related issues.

Our bold, long-term support for the We Mean Business coalition sends a powerful signal to the broader philanthropic community, encouraging greater and faster commitment to tackle climate change.

Read more about the IKEA Foundation’s climate change grants

Visit the We Mean Business coalitions website