IKEA announced a plan to become more environmentally friendly by 2030 by cutting the company’s emissions at least 50 percent and moving towards carbon neutrality. As part of the “Race to Zero” initiative, IKEA will rollout a new program that will sell renewable energy to households.
The Ingka Group, which manages 367 of the 423 IKEA stores globally, invested $2.67 billion in renewable energy since 2016 including “two solar parks in the U.S., a wind farm in Romania and 534 wind turbines in 14 countries.”
“At IKEA, we want to become fully circular and climate positive by 2030, built on renewable energy and resources,” Jan Gardberg, retail business manager at the Ingka Group, said. “We believe the future of energy is renewable and we want to make electricity from sustainable sources more accessible and affordable for all.”
In an effort to become more climate positive and commit to the Paris Agreement, the company will begin selling renewable energy to households beginning with the home market in Sweden in September. The Group has installed close to a million solar panels in most of their stores.
“IKEA wants to build the biggest renewable energy movement together with co-workers, customers and partners around the world, to help tackle climate change together,” the company said in a statement.
Ingka Group will partner with Svea Solar, which produces solar panels for IKEA, and “purchase electricity on the Nordic power exchange Nord Pool and resell it without surcharge—households will pay a fixed monthly fee plus a variable rate,” according to Reuters.
Jonas Carlehed, head of sustainability at IKEA Sweden, said while IKEA sells solar panels in 11 markets globally, he hoped to offer the new renewable energy program to all markets in the future.
“We want to make electricity from sustainable sources more accessible and affordable for all,” the company said in a statement.
The Group also recently bought forest land to help the continued absorption of CO2 and continues to offer a buy-back program to help recycle old furniture.
“At IKEA, we have committed to becoming climate positive by 2030 and as part of that, we are also committed to the 1.5°C goal in the Paris Agreement,” Jesper Brodin, CEO of Ingka Group I IKEA, said. “This movement seeks to engage the retail sector and by working together and acting with speed, focusing on what makes real impact, we can truly make a difference. For people and the planet.”