Ikea says it will spend $1.13 billion on renewable energy as part of plans to improve its sustainability. The furniture maker says that investments will include wind energy and solar panels and that by 2020 all of the energy used by its stores will be provided by clean energy sources. The firm has also announced it will take steps to help poorer nations fight climate change.
Last year an internal review revealed that only 41 per cent of its customers see the firm as a company that takes social and environmental responsibility seriously. Ikea says it will invest €600 million in wind and solar power installations, adding to the €1.5 billion invested since 2009. It is also planning to source more of its wood from sustainable sources.
The Ikea Foundation, its charitable arm, will invest €400 million by 2020 to support communities in nations vulnerable to the impacts of climate change.
