Ingka Group invests 600m euros to accelerate IKEA’s sustainability goals

(Climate Action, 8 Sep 2020) Ingka Group will accelerate its investments to ensure IKEA reaches its overall commitment to become climate positive by 2030.

Ingka Group, a strategic partner in the IKEA franchise system, has committed to invest EUR 600 million more into companies, solutions and its own operations to enable the transition to a net zero carbon economy. This increases its overall investments into sustainability to EUR 3.8 billion.   

The company is implementing a zero-fossil fuel approach to align with new updated ESG standards. As the company takes the next step, it will focus on investing in companies and solutions that have a direct impact towards the Paris Agreement and the UN Sustainable Development Goals

Earlier this year, IKEA announced that it had reduced the climate footprint by 4.3 percent while growing the IKEA business with 6.5 percent. The company currently owns 546 wind turbines in 14 countries, two solar farms with 1.5 million solar panels, and more than 920,000 solar panels on the roofs of IKEA stores and warehouses.

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Climate Action, 8 Sep 2020: Ingka Group invests 600m euros to accelerate IKEA’s sustainability goals