Ikea Will Generate More Power Than It Uses By End of 2019 - Geek.com
There are more than 400 Ikea stores operating in 52 countries around the world. They carry about 12,000 products and generate $44 billion in sales. Soon they'll do it while consuming less power than they generate.
Ingka Group, the part of Ikea's wildly-complex corporate structure that operates most of the franchise's locations, had previously announced a goal of breaking even by 2020.
Ikea's transition to sustainable power has been going on for the better part of a decade. Along the way they've installed the largest solar arrays in several states - and even some countries - on store roofs.
Ingka, meanwhile, has been investing in solar and wind energy in a major way. Reuters reports that the Group has invested $2.8 billion over the past decade, which includes its rooftop projects as well as offsite wind and solar farms.
CEO Jesper Brodin sees such investments as a no-brainer. "Being climate smart is not an added cost. It's actually smart business and what the business model of the future will look like," he told Reuters. "Everything around fossil fuels and daft use of resources will be expensive."
Ikea's energy goals are part of its larger climate plan. Under that plan, Ingka hopes to make the chain climate-positive by 2030.
It'll take much more than sustainable energy production to achieve that goal. In a corporate press release Ikea laid out several additional steps they're taking.
Rather than simply purchasing carbon offsets, Ikea will design products that actually store carbon long-term. They'll also focus on making products that can be repaired, upcycled, and resold - as well as offering "support services" to keep that circular flow moving. They've already started with the launch of a sell-back program.
Ikea is also going to increase plant-based food offerings in both packaged foods and in their restaurants. The company also wants to be the rising tide that lifts all boats: they'll work closely with nearly 1,000 suppliers to ensure operations along the entire chain are as sustainable as possible.
The owner of most IKEA stores has announced it will surpass its 2020 renewable energy target. Ingka Group says that by the end of 2019 it will have exceeded its 2020 renewable energy goal. Its 2020
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