IKEA to Utilize only Renewable and Recycled Materials by 2030 | Financial Buzz

IKEA to Utilize only Renewable and Recycled Materials by 2030

IKEA, the world’s largest furniture retailer, has announced plans to use only renewable and recycled materials in its products by 2030 at the Democratic Design Days in Älmhult. The company also demonstrated several new solutions and innovations that would enable people to save a lot of water, clean the air in their homes, and product built from new innovative and recycled materials.

“Our ambition is to become people and planet positive by 2030 while growing the IKEA business. Through our size and reach we have the opportunity to inspire and enable more than one billion people to live better lives, within the limits of the planet” says Inter IKEA Group CEO, Torbjörn Lööf. “We are committed to taking the lead, working together with everyone – from raw material suppliers all the way to our customers and partners.”

Inter IKEA said on Thursday it aims to reduce the total IKEA climate footprint by an average of 70% per product in a step progressing toward becoming climate positive among a list of other commitments they hope to accomplish by 2030.

According to an Inter IKEA press release, the company also hopes to use only renewable and recycled materials, remove all single use plastic products from the IKEA range globally, including customer and coworker restaurant stores by 2020, increase the proportion of plant-based choices in the IKEA food offer, achieve zero emissions home deliveries by 2025, and offer affordable home solar solutions to 29 IKEA markets by 2025.

A third of all man-made greenhouse gas emissions are produced by 250 of the world’s largest companies. Inter IKEA is the first to target all IKEA stores as well as the supply chain. Currently, there are 418 IKEA stores across 49 markets.

Inter IKEA is attempting to cut the climate impact of stores and other operations by 80 percent in absolute terms by 2030 compared with 2016 through science-based targets. Other global brands such as Coca-Cola, Sony, and H&M have committed to science based targets as well, with goals towards reducing global warming to well below the 2 degrees Celsius goal set in the 2015 Paris agreement.