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IKEA’s climate footprint in FY23 down 22%
The IKEA climate footprint in FY23 is estimated to be 24.1 million tons CO2 eq, down 12% compared to the previous year and 22% compared to the baseline year FY16, according to the IKEA Sustainability Report FY23 and the IKEA Climate Report FY23 which were issued by Inter IKEA Group.
The reduction in FY23 is attributed to the continued increase in renewable electricity at both retail and production units, energy efficiency improvements in IKEA’s lighting range, in addition to lower production volumes.
“Sustainability is an integral part of our business and our commitment to make sustainable living affordable and accessible to the many. We maintain a long-term perspective and are actively contributing to limiting our impact on climate change, reversing nature loss and securing equitable growth,” said Jon Abrahamsson Ring, CEO, Inter IKEA Group.
“We continue to innovate and develop technologies to meet our climate goals and we aim to use only renewable or recycled materials by FY30,” he added.
“In FY23, we introduced bio-based glue in the IKEA Industry board factory in Lithuania and explored a new technology for recycling fibreboard. This will support the IKEA climate transition plans and the work to reduce emissions from materials, the largest contributor to the IKEA climate footprint,” he added.
A significant achievement this year was the development of rigorous action plans that allowed IKEA to strengthen its climate goals in line with the 1.5°C target and the Science Based Targets initiative (SBTi) Net-Zero standard.
The new goals include at least halving greenhouse gas emissions from the IKEA value chain in absolute terms by FY30 compared to FY16 and reaching net-zero latest FY50. As of November 2023, the goals have been submitted to SBTi for approval.
“Even though there are many signs and evidence that society is off track with regards to global warming, it is more important than ever to act with urgency and stay committed to the Paris Agreement and to limit any overshoot as much as possible. To further support change, the IKEA business advocates for a complete phase out of fossil fuels and its subsidies, halting deforestation and addressing the root causes of air pollution,” said Pär Stenmark, Chief Sustainability Officer, Inter IKEA Group.
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