Ikea is to invest $1.1bn in businesses that will provide the company with a long-term supply of sustainable materials. The money will be spent on firms working in the fields of recycling technology, renewable energy and biomaterials, and on forestry. According to CDP, 24 percent of the revenue of major firms depends upon commodities linked to deforestation: cattle, palm oil, soy and timber. Such dependence puts companies at risk to the extent of $906bn each year. Ikea, which has invested $1.6bn in renewable energy since 2009, will also focus on products that boost the circular economy, thus contributing to savings.
Ikea is to invest $1.1bn in businesses that will provide the company with a long-term supply of sustainable materials. The money will be spent on firms working in the fields of recycling technology, renewable energy and biomaterials, and on forestry. According to CDP, 24% of the revenue of major firms depends upon commodities linked to deforestation: cattle, palm oil, soy and timber. Such dependence puts companies at risk to the extent of $906bn each year. Ikea, which has invested $1.6bn in renewable energy since 2009, will also focus on products that boost the circular economy, thus contributing to savings.