IKEA, one of world?s largest home furnisher, has released its sustainability report for FY-16 in which it commits to invest ?1billion in sustainability initiatives in the next one year. The IKEA claims that it continues to source most cotton from sustainable sources, namely Better Cotton Initiative (82 per cent) and uses recycled cotton (18 per cent) for the rest.
The report also shows progress in its People & Planet Positive strategy including its target to produce as much renewable energy as the energy it consumes in its operations by 2020. IKEA has announced that new wind farms in Poland and the US will become operational in the next 12 months. The IKEA Group produced renewable energy corresponding to 71 per cent of its energy use in FY16.
Peter Agnefjäll, President and CEO, IKEA Group opines that there are many opportunities ahead for forward-thinking businesses to contribute and benefit from the development of the low-carbon economy, and that IKEA is determined to have a positive impact on people and the planet.