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Ikea: Going 100% renewable makes “good business sense”

July 27, 2015

Ikea: Going 100% renewable makes “good business sense”

By Jean Chua
Monday 27 July 2015

Ikea, the Swedish home furnishing firm, was built on the vision to “create a better everyday life for the many people” and to date, it has grown into a retail giant with more than 350 stores and 150,000 employees globally. The family-owned company is recognised not only for its functional and affordable furniture but is also building a name for itself with its trail-blazing efforts in its green energy and corporate sustainability strategies.

The company is part of RE100, an initiative of The Climate Group and CDP, to encourage the world’s most influential firms to commit to going 100 per cent renewable.Under its ‘People and Planet Positive’ sustainability strategy launched in 2012, it made the commitment to produce as much clean energy as it consumes by 2020.

From using sustainable cotton to recycling more than 87 per cent of the waste it generates, Ikea has won many accolades for its efforts, including the Guardian Sustainable Business Award and the BusinessGreen Leaders Awards’ Company of the Year.

It has already invested 1.5 billion euros on wind and solar power installations since 2009, and will continue to invest another one billion euros into producing renewable energy over the next few years, the company said in June.

Read more at Eco-Business.

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