IKEA owner, the Ingka Group, is to invest €600 million (US$710m) in sustainability measures including a ‘zero fossil fuel’ approach to help IKEA achieve its ambition of becoming climate positive by 2030, writes Ecotextile News.
The money will be spent over the next 12 months in companies and solutions that have a direct impact towards the Paris Agreement and the UN Sustainable Development Goals (SDGs).
The commitment brings total spending on sustainability solutions from the group to €3.8 billion (US$4.5bn). Last year it invested almost €2.5 billion (US$3bn) in wind and solar power. The group now generates more renewable energy than it consumes.