Sectors

Ingka Group is investing an additional 600 million euros in sustainability

OHOP is a two-day event with more than three hundred policymakers from companies, government and NGOs. The goal is to make Ikea climate positive by 2030 and thus bring Ikea’s ecological footprint to zero. In the coming year, Ingka Group will invest more than 600 million euros extra in innovative companies, clean solutions and its own operations. In order to contribute to a CO2-free economy. In total, the organization invests around 3.8 billion euros in sustainability.

Since 2009, Ingka Group has been investing, through the investment arm Ingka Investments, in innovative companies that have a focus on sustainability and that share the ambition to be 100% energy neutral. In the coming period, investments will be made in companies and solutions that pursue the objectives of the Paris Convention and the Sustainable Development Goals of the United Nations.

The company wants to reduce the use of fossil fuels to zero in the coming period, in order to comply with the latest standards in the field of ESG (environmental, social and governance). Pension funds worldwide that have a relationship with Ingka Group are also assessed on the extent to which they meet these ESG standards.

Juvencio Maeztu, Deputy CEO and CFO Ingka Group: ‘Despite the major challenges we face in the world, we still have a responsibility to commit to a future-proof climate. That is and remains our priority. We want to be part of the solution and that is why we will organize our future investments in such a way that we contribute to cleaner, greener and inclusive economic growth. ‘

With this investment, Ingka Group shows that it is determined to take action for a better climate. In this way, the largest franchisee contributes to Ikea’s ambition to remove more greenhouse gases from the air by 2030 than its entire value chain emits. Earlier this year, Ikea announced that its carbon footprint had been reduced by 4.3% while the company’s financial growth had increased by 6.5%. The company’s growth was thus decoupled from CO2 emissions. It currently owns 546 wind turbines in fourteen 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. These investments contribute to Ingka Group’s goal to generate as much renewable energy as is consumed. In the Netherlands, there are currently almost 40,000 solar panels on the roofs of the shops and the distribution center.

Christiana Figueres, former Executive Secretary of the United Nations Framework Convention on Climate Change and speaker at the One Home, One Planet sustainability conference: ‘The Ingka Group decision shows the role companies can play in putting the climate problem on the map. We must immediately invest in green technologies and clean solutions. Companies – large and small – play an important role in this and they have the opportunity to turn challenges into solutions. ‘

Ikea endorses the importance of the EU Green Deal, which encourages the EU to make the economy climate neutral and sustainable. The Exponential Climate Action Roadmap – part of the Green Deal – aims to halve greenhouse gas emissions by 2030.

In recent years Ingka Group has invested in – and collaborated with – companies such as:

– RetourMatras: a Dutch company that makes it possible to recycle more than 90% of the materials in mattresses. The investment supports RetourMatras in expanding a processing capacity to more than a million mattresses per year in the Netherlands.

– Morssinkhof Rymoplast: a leading player in the European plastic recycling industry. Also located in the Netherlands.
– Winnow: a company that has come up with an Artificial Intelligence solution to combat food waste in professional kitchens.

– Aerofarms: an indoor urban farm.

– Optoro: a logistics software platform for retailers to reduce waste on returns.

Ingka reports this herself. Read more about Ingka Group’s sustainable performance and ambitions in this Annual & Sustainability Summary report.
(PvWK)

Other
Ingka Group (Ingka Holding and its controlled entities) is one of 12 separate companies that own and operate Ike’s retail channels under a franchise agreement with Inter Ikea Systems. Ingka Group has three divisions: Ikea Retail, Ingka Investments and Ingka Centers. Ingka Group is the world’s largest home furnishing retailer with 374 Ikea stores in 30 markets and 161,200 employees. In FY19, these stores welcomed 839 million visitors. IKEA.com had 2.6 billion visitors. Ingka Group honors the Ikea vision of creating a better daily life for as many people as possible by offering well-designed, functional and affordable home furnishing products of high quality, which are produced with care for people and the environment. For more information, visit Ikea.nl. ‘

(source: Ingka)

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