· Ingka Group Reporting FY21 showed progress in reducing climate footprint
· Ingka Investments announced acquisition of land in Florida to plant new sustainably managed forest in area damaged by hurricane Michael
· Ingka Investments made minority investment in Doconomy
Ingka Group Reporting FY21 showed progress in reducing climate footprint
The new Ingka Group Reporting was released reflecting the fiscal year of 2021. The reporting shows that Ingka Group has continued to support people experiencing poverty and inequality and continues to strive towards its ambition to inspire and enable one billion people to live a better everyday life within the boundaries of the planet by 2030.
The Ingka Group Reporting FY21 showed that while Ingka Group has grown its business by 17.6 percent since FY16, it has seen a 6.5 percent reduction in its climate footprint over the same time.
To help achieve the IKEA goal to become a climate positive and circular business by 2030, Ingka Group is now focusing reporting around four big movements, which is reflected in this year’s new report. These four movements now form the basis of Ingka Group’s financial and non-financial performance against a wide range of goals and indicators: Better homes, Better lives, Better planet, and Better company.
Ingka Investments announced acquisition of land in Florida to plant new sustainably managed forest in area damaged by hurricane Michael
In January, Ingka Investments, the investment arm of Ingka Group which represents the largest IKEA retailer, announced its acquisition of land in Florida as part of its long-term commitment to responsible forest management.
The investment property, Tupelo Honey, consists of two parcels of land in Gulf and Liberty Counties near the Apalachicola River that will be used for an ongoing afforestation project, creating new forestland by planting trees in areas where there were none before.
The new forests will support increased biodiversity, help ensure sustainable timber production from responsibly managed forests, and recover land damaged by Hurricane Michael in October 2018.
Ingka Investments made minority investment in Doconomy
Ingka Investments made a minority Investment in a Swedish-based company called Doconomy, who are a leading player in climate technology, helping banks, brands and consumers to measure, understand and reduce their environmental impact.
Doconomy’s technology is currently used in 30 countries by some of the world’s leading banks and brands, reaching over half a billion customers globally, and it aims to make its services available in 20 additional markets in 2022. It has pioneered several game-changing products including the financial transaction API, through which customers can track the environmental footprint of each purchase they make and set themselves individual carbon budgets.