Skip to main content

Ingka Investments Press Releases Sustainability 2 September 2020

Ingka Group increases its sustainability investments by EUR 600 million over coming 12 months

Ingka Group will accelerate its investments to further enable the transition to reach the IKEA overall commitment to become climate positive by 2030*. Over the coming year, the company has committed to invest EUR 600 million more into companies, solutions and its own operations to enable the transition to a net zero carbon economy. This increases its overall investments into sustainability to EUR 3.8 billion.   

Since 2009 Ingka Group1, through its investment arm Ingka Investments2, has continued to invest in innovative companies that support its sustainability goals, including achieving its 100 percent renewable energy generation target. As the company takes the next step, it will focus on investing in companies and solutions that have a direct impact towards the Paris Agreement and the UN Sustainable Development Goals.

The company is implementing a zero-fossil fuel approach to align with new updated environmental, social and corporate governance (ESG) standards. In addition, a review of global and local pension funds across 31 countries will also be conducted, to ensure they align with ESG standards.

“We believe it’s good business to be a good business. 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. We 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,” says Juvencio Maeztu, Deputy CEO and CFO Ingka Group.

Ingka Group is committed to take climate action, contributing to the IKEA overall commitment to reduce more greenhouse gas emissions than the IKEA value chain emits, by 2030*. Earlier this year, IKEA announced that it had reduced the climate footprint by 4.3 percent while growing the IKEA business with 6.5 percent. The company currently owns 546 wind turbines in 14 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 have contributed towards Ingka Group reaching its goal to produce as much renewable energy as it consumes.

“This highlights the role business can play in addressing the challenges of climate change. We must direct investments towards green technologies and solutions that are clean. Companies big and small have an important role to play and an opportunity to turn the challenges we face into solutions, as we build back better,” says Christiana Figueres, former Executive Secretary of the United Nations Framework Convention on Climate Change and speaker at OHOP***

IKEA is fully supportive of the EU Green Deal, urging the EU to build its recovery package ‘to support and accelerate the transition towards a climate neutral and circular economy and the Exponential Climate Action Roadmap** to halve greenhouse gas emissions in absolute terms by 2030 to help make a positive impact for customers, communities, co-workers and the planet.

Over the past few years, Ingka Group has also invested in and is collaborating with companies such as:

  • RetourMatras, a company that makes it possible to recycle more than 90 percent of the materials in a mattress,
  • Morssinkhof Rymoplast, a leading player in the European plastic recycling industry,
  • Winnow, a company that has developed an AI-enabled food waste tracking solution to help reduce food waste in commercial kitchens,
  • Aerofarms, an indoor urban farming company,
  • Terramera, working with bio-pesticides, and
  • Optoro, a provider of a software platform for reverse logistics for retailers.

The announcement was made at a Ingka Group virtual sustainability event, called ONE HOME, ONE PLANET, a two day co-creation event, with over 300 sustainable leaders, NGOs and business partners from many different parts of society working together to help develop, shape and find solutions to help to make a positive impact for customers, communities, co-workers and the planet.

 

Read more about Ingka Group’s sustainability performance and commitments in the new Annual & Sustainability Summary report.

*Becoming climate positive is about reducing more greenhouse gas emissions than what the IKEA value chain emits. IKEA will eliminate GHG emissions in line with Paris Agreement, store carbon in land, plants and products, go beyond IKEA – by addressing a footprint larger than the IKEA value chain, take action together – engage with others to realise a 1.5°C world. Read more about the IKEA commitment here.

**The Exponential Climate Action Roadmap outlines the global economic transformation required by 2030 to meet the Paris Agreement on climate.

***ONE HOME, ONE PLANET is a two-day sustainability focused co-creation event, first held in 2019, with over 300 sustainable leaders, NGOs and business partners from many different parts of society working together to help develop, shape and find solutions to help to make a positive impact for customers, communities, co-workers and the planet.  

————————————-

1Ingka Group is a strategic partner in the IKEA franchise system, operating 380 IKEA stores in 31 countries. Ingka Group has three business areas: IKEA Retail, Ingka Investments and Ingka Centers.

2Ingka Investments make strategic investments and acquisitions that secure our long-term financial strength and support the growth, business transformation and sustainability goals of Ingka Group.

For further information, journalists and media professionals can contact us at press.office@ingka.com or by calling +46 70 993 6376


Related articles

IKEA Retail Press Releases

IKEA opens first store in Slovenia with strict pandemic measures in place

Ingka Centres Press Releases

Ingka Centres enters the Indian market with its first IKEA anchored destination in Noida

Ingka Investments Sustainability

IKEA value chain collaboration brings circular mattress one step closer

Press Releases

IKEA and Helsingborg join forces to assemble the sustainable city of the future

Ingka Investments Press Releases

Ingka Investments to take 49% stake in Ikano Bank

Press Releases Sustainability

“If we offer parking, we offer charging” – IKEA provides EV chargers at all stores

Sustainability

“Together we can make a global switch to renewable energy and realise a 1.5°C world where everyone can thrive”

Press Releases Reports and Summaries Sustainability

Ingka Group exceeds goal to generate more renewable energy than it consumes

Sustainability

OPINION: Targeting climate positive by 2030 and transitioning to Net Zero: A new framework for business action

Culture and Co-Workers Press Releases

IKEA Retail joins WEF Racial Justice Coalition

Ingka Investments Press Releases Sustainability

Ingka Investments acquires forestland in United States from The Conservation Fund

view of the outside of IKEA Harajuku Shop in Tokyo

Culture and Co-Workers Digital IKEA Retail Sustainability

In review: Ingka Group 2020

IKEA Retail Sustainability

IKEA takes action after discovering misconduct at supplier

Campaigns IKEA Retail Sustainability

BuyBack Friday gives thousands of pieces of furniture a new life

Sustainability

Tackling climate change: 5 years after the Paris Climate Agreement

Sustainability

Ingka Group recognised with prestigious ‘A’ score for climate change

Sustainability

Ingka Group contributes to new report on delivering a sustainable purpose

Press Releases

Robust performance and accelerated investments in omnichannel and sustainability

Sustainability

Ingka Group receives Blue Sky Award for outstanding contributions to advance sustainable transport

Sustainability

First hub for co-creation of IKEA products and services opens in Poland

Sustainability

IKEA installs cargo bikes to drive change

IKEA Retail Sustainability

The world’s first second-hand IKEA store is now open

Campaigns Culture and Co-Workers IKEA Retail Sustainability

October 2020: Ingka Group news

Press Releases

Marcus Engman new Chief Creative Officer for Ingka Group

Ingka Centres Press Releases

Ingka Centres business transformation maintains strong momentum

IKEA Retail Sustainability

IKEA Australia announces first renewable energy positive store

Campaigns IKEA Retail Press Releases Sustainability

IKEA launches alternative Black Friday Campaign – A deal for the climate

Sustainability

Ingka Group announces participation in Count Us In, aiming to help 1 billion people fight climate change

Campaigns Press Releases Sustainability

IKEA launches its Virtual Greenhouse to inspire people to live a more balanced and sustainable life at home

IKEA Retail Press Releases

Solid sales performance when life at home has never been more important

Culture and Co-Workers Sustainability

OPINION: Let your inner teenager guide you to act for people and planet

Press Releases Sustainability

IKEA to remove non-rechargeable alkaline batteries by 2021

Ingka Centres Press Releases

Ingka Centres announces appointment of new Managing Director

Ingka Investments Press Releases Sustainability

IKEA Finland completes acquisition of three new wind farms, to support its renewable energy generation

Sustainability

Ingka Group supports more business action on climate change

Ingka Investments Press Releases

Ingka Investments announces minority investment in Mover Systems

Sustainability

Ingka Group joins virtual UN Climate Action Summit and Climate Week – as the focus shifts to how we recover and reset after COVID-19

Campaigns Press Releases Reports and Summaries

IKEA launches its seventh Life at Home Report, exploring how people have grown closer to their homes in this extraordinary year

IKEA Retail Ingka Investments Press Releases

Ingka Investments acquire Traemand – a kitchen service company – adapting to meet the needs of its customers

IKEA Retail Sustainability

World’s first second-hand IKEA store to open in Sweden

IKEA Retail Ingka Centres Press Releases

Ingka Centres Acquires 6X6 Building in Downtown San Francisco

Culture and Co-Workers Digital Press Releases Sustainability

ONE HOME, ONE PLANET 2020: Sparking change together

IKEA Retail Sustainability

IKEA Switzerland see sustainability as an opportunity to lead

IKEA Retail Ingka Investments Press Releases

TaskRabbit name Ania Smith as new CEO

IKEA Retail Press Releases

IKEA introduces plant ball, a more sustainable alternative to iconic IKEA meatball

Culture and Co-Workers IKEA Retail Press Releases

COVID-19: Ingka Group supports 600,000 people in 30 countries

IKEA Retail Ingka Investments Press Releases

Ingka Investments signs agreement to acquire real estate for IKEA Retail in the heart of Paris

IKEA Retail Press Releases Sustainability

IKEA tests new electric vehicle prototypes

Sustainability

OPINION: Global crises require exceptional leadership

Culture and Co-Workers IKEA Retail Press Releases

Ingka Group to return government support received during COVID-19 pandemic peak

IKEA Retail Press Releases Sustainability

Sustainability is the new business model: Jesper Brodin, CEO, Ingka Group

Press Releases Sustainability

Ingka Group joins businesses to unite with governments for a 1.5°C future

Campaigns Digital IKEA Retail Press Releases

Ingka Group launches #BeSomeonesHome campaign to support “International Day Against Homophobia, Transphobia & Biphobia”

IKEA Retail Press Releases

Ingka Group joins campaign for green recovery from coronavirus pandemic

Culture and Co-Workers IKEA Retail Press Releases

Ingka Group: COVID-19 Community Response

Ingka Investments Press Releases Sustainability

Ingka Group acquires Utah, Texas solar parks to boost renewable energy generation

Digital IKEA Retail Ingka Investments Press Releases

Ingka Group acquires Geomagical Labs

IKEA Retail Press Releases

IKEA grants €26m to protect the health and livelihoods of communities, co-workers, suppliers and consumers impacted by coronavirus

IKEA Retail Sustainability

Part 2: Why managing product, water wastage makes sense for Ingka Group

IKEA Retail Sustainability

Part 1: Why managing food waste makes sense for Ingka Group

IKEA Retail Press Releases

Coronavirus: Temporary IKEA store closures & re-opening details

IKEA Retail Press Releases

IKEA partners with Alibaba to open the first virtual IKEA store on Tmall

Ingka Investments Sustainability

Ingka Group accelerates investments; venture & growth portfolio doubles

IKEA Retail Reports and Summaries Sustainability

IKEA Bordeaux contributes to ongoing product recycling push

Culture and Co-Workers Press Releases

Ingka Group well on track with gender equal pay commitment

IKEA Retail Press Releases

Ingka Group CEO Jesper Brodin joins The B Team’s global collective of leaders

IKEA Retail Sustainability

IKEA Retail U.S. joins new electric vehicle alliance

IKEA Retail Press Releases

Coronavirus Outbreak Update: IKEA Retail China to temporarily close stores in mainland China

Press Releases Reports and Summaries Sustainability

Ingka Group releases its Annual Summary & Sustainability Report FY19

IKEA Retail Sustainability

IKEA Canada reduces food waste by 31% in 2019

IKEA Retail Press Releases Reports and Summaries Sustainability

More people are feeling anxiety, fear over climate change, but action stagnates: IKEA Climate Action Report

Press Releases

Global Climate Action Report from IKEA

IKEA Retail Ingka Centres Ingka Investments Press Releases

Ingka Centres acquires Kings Mall shopping centre

Campaigns Culture and Co-Workers Press Releases

IKEA to lead the way in refugee integration

IKEA Retail Ingka Investments

Ingka Group invests in tech startup to optimize returns

IKEA Retail Press Releases Reports and Summaries

Ingka Group FY19 results: transforming and performing

Ingka Investments Press Releases Sustainability

Ingka Group doubles U.S. forestry portfolio

Ingka Investments Sustainability

Ingka Group invests in AI-enabled food waste prevention

Campaigns Press Releases Reports and Summaries

IKEA Life at Home Report 2019: Privacy in crisis

IKEA Retail Press Releases

Ingka Group reports a 5% increase in its IKEA retail sales as the company continues to transform its business

Ingka Investments Press Releases Sustainability

Ingka Group set to exceed 2020 renewable energy target

Ingka Investments Press Releases Sustainability

Ingka Group invests in U.S. solar parks

Ingka Investments Press Releases Sustainability

Ingka Group acquires 80% stake in Romanian wind farms

Ingka Investments

Ingka Group invests in robotic furniture designer Ori

Culture and Co-Workers IKEA Retail Sustainability

Why are IKEA country retail managers taking up chief sustainability officers’ roles?

Ingka Investments Sustainability

Dutch mattress recycling to get a boost post Inkga Group investment

Digital IKEA Retail Ingka Investments

Ingka Group invests in Indian home design & renovation platform

IKEA Retail Press Releases Sustainability

IKEA to test furniture leasing in 30 markets during 2020

Sustainability

Inkga Group achieves zero emissions target for home delivery in Shanghai, a year ahead of schedule

IKEA Retail Ingka Investments Press Releases

Ingka Group invests in kitchen service company Traemand, becoming even more convenient for customers

Back to Newsroom