IKEA will invest € 200 million for ecology

29.11.2019

IKEA said it would invest € 100 million in renewable energy and the same amount in forest restoration and carbon dioxide reduction projects, according to Reuters.

By 2030, IKEA plans to no longer harm the environment: the company wants to remove more greenhouse gases from the atmosphere than it produces. For this, the company will begin reforestation and responsible forest management projects.

Thorbjörn Luf, the company's chief executive, said IKEA will focus on tropical and subtropical regions - there you can get rid of the huge amount of emissions if you restore forests.

The company will also completely switch to green energy: not only IKEA, but all its suppliers will begin to use fully renewable sources for heating, cooling and energy supply.

IKEA hopes that customer purchases will reimburse the company's environmental costs. Due to the costs of the green program, the company's operating profit fell 10% in 2019 to € 2 billion euros.

Over the past 10 years, the retailer has invested $ 2.8 billion in solar panels for its stores. Ikaa’s energy partner Ingka Group already owns and operates 900 million solar panels on the roofs of chain stores around the world.