IKEA to invest 200 million euros in race to turn ‘climate positive'

IKEA, the world’s biggest furniture group, said on Wednesday it would spend around 100 million euros (£86 million) to support direct suppliers as they switch over to renewable energy use.

Brand owner Inter IKEA, which is in charge of supplying retailers with stock, said it also planned to invest around 100 million euros in projects to remove carbon from the atmosphere through reforestation and forest protection.

It said the investments would be part of its work towards making IKEA climate positive – cutting more greenhouse gas emissions than the IKEA value chain emits – by 2030.

The target, announced in 2018, encompasses the entire value chain from raw material production to customer purchase – including IKEA’s around 1,000 direct suppliers.

Reuters