Sustainability December 1, 2020
Ingka Group contributes to new report on delivering a sustainable purpose
The IKEA vision is to create a better everyday life for the many people. Being a sustainable, purposeful and resilient business and employer is critical for long term existence. It’s what employees and customers expect as we move into the future. Ingka Group is confident that purpose and profit go hand in hand, and by contributing to a new report on delivering a sustainable purpose, the company hopes to inspire other companies to think the same.
The challenges we face are huge. We will only achieve our aim by engaging with others and taking action together – leading by example, collaborating to develop solutions, advocating for policy changes and inspiring further action. Togetherness is one of the most important IKEA values, and as a big, purpose-driven company and sustainability leader, Ingka Group has a responsibility to guide other companies who may be starting their sustainability journey. Businesses big and small, civil society, governments – everyone has an important role to play, and an opportunity to turn the challenges into solutions, as we build back better.
Together with Cambridge Institute for Sustainable Leadership, CISL, and leaders from other multinational companies, Pia Heidenmark Cook, Ingka Group Chief Sustainability Officer, has contributed to a report on delivering a sustainable purpose. The purpose of the report is to be a guide for other companies, making it easier to lead with sustainability. The report has been designed to support leaders wanting to bring their business model in line with a sustainable purpose. It outlines 10 core principles that together aim to act as the ingredients for integration of strategy, sustainability and purpose.
“To create positive, substantial and required impact on climate, companies need to act together. I hope that this guide will inspire more companies to embark on a journey to put purpose at the core of the business,” says Pia Heidenmark Cook.
In the report, Pia shares some of the steps taken by Ingka Group to turn words into action and lead with sustainability. As one example, Country Managers have also become Chief Sustainability Officers, with the intention to strengthen the bond between sustainability and business. A few of these leaders share their view on this dual role and what it means for the business. Another example is Sustainability Innovation, whose assignment is to explore the future of a better life at home, with sustainability as a starting point. Among other things they look at how to transform the As-Is area in the stores into Circular Hubs to increase the second-hand market and consumer engagement for circularity.
Ingka Group believes it’s good business to be a good business and over the coming 12 months the company has increased its sustainability investments by EUR 600 million. By 2030, the company aims to become climate positive and regenerate resources while growing the IKEA business.
Read the full report here
Ingka Group’s Sustainability Strategy can be found here
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