IKEA Owner Announces Sustainable Investments

IKEA Owner Announces Sustainable Investments

The owner of IKEA, Ingka Group, has unveiled plans to invest €600 million into sustainability projects ( #Unveiled plans to invest €600 million into sustainability projects ) over the next 12 months.
The firm has said that the funds will be used to support companies, solutions, and the firm’s own operations toward the goal of fulfilling the Paris Agreement and the UN Sustainable Development Goals and to enable the transition to a net zero carbon economy.
The new finance will bring the group’s total investments into sustainability to €3.8 billion.
Becoming Part of the Solution
Additionally, Ingka Group will implement a zero fossil fuel approach ( Learn more
As Juvencio Maeztu, Deputy CEO and CFO of the Ingka Group, explained: “Despite the significant challenges we’re facing in the world, we still have it in our own hands to change the direction of the climate crisis.”
The IKEA owners want “to be part of the solution, which is why we will continue to focus our future investments to ensure a cleaner, greener and more inclusive recovery.”No Strangers to Sustainability
Ingka and IKEA are no strangers to sustainability. Earlier in 2020, IKEA, which has previously committed to becoming climate positive by 2030, announced that it had succeeded in reducing its climate footprint by 4.3% even as it grew its business by 6.5%.
To date, the company has invested heavily in green, renewable sources of energy ( Learn more
IKEA is also working to spread the word about sustainable forestry. The company is partnered with World Wide Fund for Nature (WWF) in Thailand and Rainforest Alliance in Indonesia to help smallholder farms source sustainable forestry products.
Lexicon:
Unveiled plans to invest €600 million into sustainability projects ( #Unveiled_plans_to_invest_€600_million_i ): source from energylivenews website
 

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