Iceland saw the introduction of the 5p charge for single-use carrier bags in England in October 2015 as a once-in-a-lifetime opportunity for retailers to use this huge charity windfall to make a life-changing difference for everyone.
Dementia is the biggest threat facing humanity today. In the UK alone 850,000 people are currently affected by the condition, at a cost of £26 billion a year. Around the world it affects 35 million people and the global cost is a staggering £500 billion.
It is the only major killer disease that is claiming increasing numbers of victims each year and, if nothing is done, half of all children born in the UK today will go on to develop it.
To address this crisis, we have joined with other retailers to help fund the development of a new world class Dementia Research Institute at University College London (UCL), with the aim of meeting the challenge set by David Cameraon and the G8 to identify a cure or disease-modifying therapy for dementia by 2025.
Iceland has pledged to donate all its funds from carrier bag sales for the next three years, and hopes that this will raise at least £10 million for this great cause.
We were joined at the launch campaign by Asda, Morrisons and Waitrose. Other retailers including HSS Hire, WH Smith, Booths and Poundland have since pledged their support, and we hope that more will join us.
All proceeds in England, Wales and Scotland from carrier bag charges (after VAT) will go to the Iceland Foods Charitable Foundation to support the Demential Challenge 2020 at UCL. In Northern Ireland these proceeds will go to local environmental projects.