Business

Ikea to invest €200 million in green initiatives

IKEA Group will invest €200 million to speed up its journey to become a climate-positive business by 2030.

The investment will go into bringing IKEA’s supply chain under renewable energy. The funds will also go into reforestation, restoration (of degraded forests) and better forest management practices, as per a company release.

The first portfolio would support the ambition to use 100% renewable energy (electricity, heating, cooling, and other fuels) in production, it 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,” said Torbjörn Lööf, CEO at Inter IKEA Group.

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Printable version | Feb 23, 2020 1:52:56 PM | https://www.thehindu.com/business/ikea-to-invest-200-million-in-green-initiatives/article30099238.ece

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