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Newswatch: Can IKEA make renewable energy payoff?

Business news |
By eeNews Europe

In the next five years, the company says it will spend 500m euros on wind power and 100m euros on solar power adding to 1.5 billion euros already invested since 2009.  IKEA, which had sales of 30 billion euros in 2014, is aiming to generate all the energy used in its shops and factories from clean sources by 2020.  The retailer has already signed up to own and operate 314 wind turbines and has 700,000 solar panels on its roofs.

In May 2015 IKEA Group declared that following the inauguration of a new wind farm in Glötesvålen, Sweden, the company had become energy independent in its operations in the Nordic countries.  IKEA Group operations in the Nordic countries (Sweden, Norway, Finland and Denmark) join operations in Canada that became energy independent in 2014, producing more energy from renewable sources than they consume in their buildings. Operations in Poland and the US are on-track for energy independence with wind farms under construction.

IKEA Group now owns and operates 46 wind turbines in Sweden – 30 in Glötesvålen, nine in Korpfältet and seven in Rämsberget. Together with an additional turbine in Tåstrup, Denmark, which means that IKEA Group will produce an estimated 361 GWh of renewable energy each year in the Nordic countries. That corresponds to the annual supply of electricity for approximately 72,000 households and a reduction in CO2 emissions equal to 288,500 tonnes. Together with the heat energy produced from biomass in IKEA Group factories in Sweden, the IKEA Group will produce as much energy from renewable sources as it uses in all its stores, shopping centres, factories, distribution centres and offices in the Nordic countries.

Once operational in late 2015, a total of six wind farms in Poland will produce an estimated 473 GWh of electricity each year. Together with the heat energy produced from biomass in IKEA Group factories in Poland, the IKEA Group will produce as much energy from renewable sources as it uses in all its Polish stores, shopping centres, factories, distribution centres and offices.


IKEA Group has now committed to own and operate 314 wind turbines in nine countries and has installed 700,000 solar panels on it buildings.

IKEA’s Chief Executive Peter Agnefjall told the BBC that “Climate change is one of the world’s biggest challenges and we need bold commitments and action to find a solution".

“That’s why we are going all in to transform our business, to ensure that it is fit for the future and we can have a positive impact.”

Part of IKEA’s plans is for all its buildings be powered by renewables. In addition all the lighting the company sells will run on LEDs and the company says it will force down the price of the bulbs.

The IKEA Foundation, the charitable arm of the family-owned group, also plans to invest 400 million euros by 2020 in supporting families and communities in nations vulnerable to impacts of climate change such as floods, droughts and desertification.

With climate change in mind IKEA says the company plans to get more of its wood and cotton from sustainable sources.

The retailer says it will ensure it grows as many trees as it fells by 2020. The top national suppliers of pine and other wood used in its familiar self-assembly furniture were Poland, Lithuania, Sweden, Germany and Russia last year.

Related articles and links:

www.ikea.com

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