STOCKHOLM (Reuters) – Ingka Group, the owner of most IKEA stores, plans 600 million euros ($712 million) in sustainability-related investments over the next 12 months as the world’s biggest furniture brand aims to be climate positive throughout its value chain by 2030.
The plan is to spend a third on renewable energy, a third on stakes in innovative start-ups, and a third on making its stores and warehouses more sustainable, Chief Financial Officer Juvencio Maeztu told Reuters.
Renewable energy in China and Russia is on the cards, as are companies that could be of help in increasing the reuse, resale and recycling of IKEA products. IKEA buildings that do not yet have renewable energy-powered heating and cooling would be retrofitted to that end, he added.
IKEA is made up of several companies. Ingka, a franchisee to Inter IKEA, besides its retail operations also invests in start-ups, renewable energy, forests and