The funds will be used to transform the homeware chain’s supply chain into using 100% renewable energy (electricity, heating, cooling and other fuels) by 2030, by working in collaboration with direct suppliers; and remove and store carbon through reforestation and responsible forest management. More than half of the IKEA climate footprint comes from materials in its products and production.
Torbjörn Lööf, ceo of 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.
“By taking responsibility and working together we can make a true change. We have a long-term perspective and the financial strength to invest in activities that will benefit both the planet and our own business future.”