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

Ingka Group has published its Annual Summary and Sustainability Report, finding that the group has decreased its climate footprint by 24.3% while also increasing its revenue.

Jesper Brodin, CEO, Ingka Group, said: “This year we celebrated 80 years of IKEA. So much has changed in eight decades, yet we are still guided by the same vision: to create a better everyday life for the many people. That has never been more important or relevant than today. 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 are that we managed to reduce our climate footprint while growing the business“

 

Ingka Group revealed that between 2016 and 2023, the company has reduced its climate footprint by 24.3% while growing the business. This decrease was achieved against a 30.9% increase in revenue.

The group outlines that this reduction is coming primarily from implementing carbon saving measures, such renewable electricity and energy efficiency; however, changes in its business operations and sales have also contributed.  

79.2% of the electricity Ingka Group used in its operations in 2023 was from renewable sources (74.6% in 2022).  The group also achieved 100% renewable electricity consumption across its IKEA stores and Ingka Centres meeting places in 28 countries.

As part of its business transformation, new investments have been made in digital services, customer fulfilment and across 60 new IKEA locations, as well as increasing its investments in offsite renewable energy by EUR 0.7 billion, totaling EUR 3.8 billion since 2009.

 

Ingka Investments also invested EUR 1.3 billion in assets such as real estate, renewables, forestry and business development and committed to EUR 1.9 billion.

Find out more here.