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IKEA announces sustainability first approach with drop in carbon emissions and increase in revenue

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on Climate Action or enjoy below:

🗞️ Driving the news: Ingka Group, the principal owner of IKEA stores, has announced significant progress in its sustainability efforts, revealing a 24.3% reduction in its climate footprint alongside a revenue increase of 30.9% between 2016 and 2023

🔭 The context: The decrease in climate footprint is attributed to carbon-saving measures like adopting renewable electricity and enhancing energy efficiency
• Ingka Group also highlighted that 79.2% of the electricity used in its operations in 2023 came from renewable sources, up from 74.6% in 2022

🌍 Why it matters for the planet: This achievement demonstrates a successful balance between economic growth and environmental responsibility, showing that large corporations can significantly reduce their environmental impact while still expanding their business

⏭️ What's next: Ingka Group's commitment to sustainability is evident in its continued investment in digital services, customer fulfillment, and renewable energy, totaling EUR 3.8 billion since 2009
These actions set a precedent for sustainable business practices and growth

💬 One quote: Jesper Brodin, CEO of Ingka Group, stated, "Despite a challenging year our amazing co-workers continued to support the needs and dreams of our customers while we invested into making more products affordable to the many people. One of the highlights is that we managed to reduce our climate footprint while growing the business"

📈 One stat: 79.2% - the percentage of electricity from renewable sources used by Ingka Group in its operations in 2023

Click for more news covering the latest on carbon

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