Ikea will invest 600 million euros to be carbon neutral in 2030 | Industry

Ikea will invest 600 million euros to be carbon neutral in 2030 | Industry

Ikea will invest 600 million euros in sustainability in the next 12 months. The company thus adds a general investment of 3.8 billion euros in sustainability.

Ikea is stepping on the gas in environmental terms. The Ingka Group, the parent company of Ikea, it doubles its efforts in this area and will invest 600 million euros in sustainability in the next 12 months.

The company thus adds a general investment of 3,800 million euros in sustainability with which it will reinforce its investment in companies, solutions and operations over the next year to accelerate the transition to a carbon neutral economy. The company has also set the goal of generating 100% renewable energy.

The group has set itself the goal of being carbon neutral by 2030, for which it directs its efforts to reduce greenhouse gas emissions emitted by the supply chain. “We will continue to focus on our future investments to ensure a cleaner, greener and more inclusive recovery. “, says the group’s financial director, Juvencio Maeztu.

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At the start of the year, the group reduced its climate footprint by 4.3% while boosting its business by 6.5%. With 546 solar generators in 14 countries, two solar farms and 1.5 million solar panels, the group already produces as much renewable energy as it consumes.

Read more: Ikea is committed to “democratizing sustainability” with photovoltaic panels, curtains that purify the air and fluid spaces

“They are good investments in sustainability, in renewables, in companies or in materials”, noted Ingka Group CEO Jasper Brodin during the virtual event, One Home One Planet.

The executive pointed out that the idea that sustainability should be something premium is a very harmful vision. In this sense, he believes that it is about reaching sustainable consumption. “I believe that investments in themselves are a greater barrier than taxes for sustainability. We all invest in the future and not in the past, ”said Brodin.

For his part, the CEO of the Ikea Foundation, Paul Alkhudary, highlighted the change in business mentality left behind by obtaining the maximum return for shareholders in favor of a positive social impact.

For her part, the group’s head of sustainability, Pia Heindenmark Cook, considered that in a context of health, economic and climate crisis, “We are at the perfect time to reestablish the system and build a better one.” An idea that for Ikea goes through sustainability, renewables and the circular economy.

The person in charge of sustainability referred to a change throughout the entire value chain of the product, from origin to consumer, and encompasses clean energies, but also achieve equal pay and gender parity by 2022.

This article was published in Business Insider Spain by Lidia Montes.

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