IKEA invests £200 million in speeding up work to become climate positive
IKEA is investing €200 million in speeding up its work to become climate positive by 2030.
The funds will be used to help the furniture and homewares retailer achieve its aim of using 100% renewable energy in production by 2030. This work will be carried out in collaboration with IKEA’s suppliers.
The company will also invest in projects aimed at removing and storing carbon through reforestation and responsible forest management as wood is one of the main materials that IKEA uses in its furniture and other products. More than half of IKEA’s climate footprint comes from materials in products and production.
Torbjörn Lööf, chief executive at Inter IKEA Group, said: “Our ambition is to reduce more greenhouse gas emissions in absolute terms by 2030 than the entire IKEA value chain emits, while growing the IKEA business. To reach this goal, we will continue to invest in areas that create impact. This investment will speed up the transition to using renewable energy across our supply chain and remove carbon from the atmosphere through reforestation and better forest management practices.”
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