According to Ikea ’s head of sustainability, the appetite of Western consumers for home furnishings has reached its peak. Howard claims that the West has “hit peak red meat, peak sugar, peak stuff …”. Howard added that his comments did not contradict Ikea ’s target of almost doubling sales by 2020 suggesting that the company was “…increasingly building a circular Ikea where you can repair and recycle products”. Ikea has introduced a series of environmental policies in 2020 , pledging to invest €1bn (£ 755 m) in renewable energy and measures to help poorer communities deal with the impacts of climate change. Matt Barrett, the former chief executive of Barclays, was similarly loose-tongued in 2003 when he said borrowing on credit cards was too expensive. It has also promised to become completely reliant on clean source energy in it shops and factories by the last year and phase out use of non-LED light bulbs.
According to Ikea ’s head of sustainability, the appetite of Western consumers for home furnishings has reached its peak. Howard claims that the West has “hit peak red meat, peak sugar, peak stuff …”. Howard added that his comments did not contradict Ikea ’s target of almost doubling sales by 2020 suggesting that the company was “…increasingly building a circular Ikea where you can repair and recycle products”. Ikea has introduced a series of environmental policies in 2020 , pledging to invest €1bn (£ 755 m) in renewable energy and measures to help poorer communities deal with the impacts of climate change. It has also promised to become completely reliant on clean source energy in it shops and factories by the last year and phase out use of non-LED light bulbs.