CDP 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 Ikea, 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. CDP, 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.