The package will fund two strategies, the first of which is designed to support Ikea’s ambition to use 100% renewable energy across its direct operations and supply chains within the next decade.
As of April, Ikea has used renewable generation to meet 86.7% of the heating and 81.1% of the electricity needs across its manufacturing supply chain. The firm has said it will collaborate with direct suppliers to close these gaps, and to begin tackling non-renewable generation for cooling. It notably already generates more renewables than it uses in its direct operations.
The second part of Ikea’s investment strategy covers projects which aim to remove and store carbon through reforestation and responsible forest management. The company is on-track to achieve its 2020 ambition of sourcing all wood from FSC-certified sources, so the new funding provides a vehicle for Ikea to build on this progress.
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