Swedish furniture giant IKEA has announced that 70% of the materials used for its products were sourced from either recycled or from renewable sources, as the brand aims for 100% of its product line to be made in the same way by the end of the decade.
The news comes via the company’s latest Sustainability Report, which says that the company has sourced 91% - up fro 84% in the previous year - of its wood from sustainable sources, and that 80% of its furniture line up is in-line with the circular economy’s design principles.
In addition to this, the company managed to increase its profits while decreasing its environmental footprint by 4.3%, has nearly tripled the share of recycled polyester for its textile products, aims to make renewable energy more affordable with its IKEA home solar program, and has announced 200-million Euros worth of investments into reducing its environmental impacts.
Inter-IKEA’s CEO, Torbjorn Loof said that “with our scale and influence, we have the potential to inspire more than 1 billion people to stay together for sustainable development and use a limited resource to live a better life. We are committed to taking the lead in working with everyone, including our raw material suppliers, customers and partners.”
“To further speed up action, we have decided to make a 100M EUR investment into renewable energy at our direct suppliers plus another 100M EUR for actions to remove CO2 from the atmosphere through better forest management. Most important of all is to take action together. This is the only way forward to achieve the big changes we want to see and that need to happen,” Loof concluded.
“This is the first year where we continued to grow - but our climate footprint decreased” - IKEA’s Chief Sustainability Officer.
“We are on an exciting journey to inspire and enable more people to live healthier and more sustainable lives, while at the same time, create a positive impact for people, society and the planet,” said Lena Pripp-Kovac, chief sustainability officer at Inter IKEA Group. The latest year marked “an important milestone as this is the first year where we continued to grow - but our climate footprint decreased. With 6.5 percent growth in sales, we managed to decrease our climate footprint by 4.3 percent in absolute terms. This is good news, especially since we know that we need to do so much more to reach our commitments for 2030,” she said.
“To achieve true recycling means meeting people’s changing lifestyles, extending product life, and using resources in a smarter way.”
The report states that IKEA is looking to replace all its virgin polyester textiles with recycled sources, and has “taken steps towards phasing out single-use plastic products” altogether from its product lineup. “In the transformation to 100% renewable energy, we are now using 57% renewable energy in retail and 46% in the production of IKEA products,” the report states.
In terms of pivoting its products to be in-line with the circular economy, IKEA states that “circular products will be designed from the very beginning to the reused, refurbished, remanufactured and recycled - extending their lifespan for as long as possible. They will also be material banks for the future, meaning we can take them apart when they are no longer working or wanted and reuse the parts and the materials,” the company stated.
In order to reduce the company’s carbon footprint, both in the manufacturing and distribution of its products, IKEA says that it is planning on “drastically reducing greenhouse gas emissions in absolute terms from all parts of the IKEA value chain” and is looking to boost ways to store carbon dioxide in “land, plants and products,” which will see the company investing in forestry initiatives as well as possible storage methods that would see carbon dioxide captured and stored away so it doesn’t enter the Earth’s atmosphere.