Ikea gets stamp of approval for 80% science-based emissions target

The world’s largest furniture retailer confirmed on Wednesday (June 13) that the target, which will cover 363 stores in 29 markets as well as Ikea’s supply and value chains, has been officially recognised as keeping in line with the Paris Agreement’s 2C trajectory.

The 2030 target, set against a 2016 baseline, will set the trajectory for Ikea to push towards a 1.5 climate goal towards the end of the century, according to the company.

“Taking action on climate change is not only the right thing to do for people and the planet, it’s necessary for our long-term success as a business,” Ikea Group’s chief sustainability officer, Pia Heidenmark-Cook, said.

“Setting science-based targets will challenge us to find new and better ways, as well as drive innovation and renewal in our business. We encourage other companies to join us in accelerating the transition to a low-carbon economy which boosts investment, employment and innovation.”

The new plan for 2030 additionally sets targets of slashing GHG emissions from customer and employee travel and customer deliveries in half, while achieving a minimum 15% reduction in absolute terms across the Group’s value chain.

Ikea said in a statement that if the targets are met, they will represent a 70% reduced carbon footprint on the average product.

The retailer joins more than 100 other companies, including L’Oréal, McDonald’s and Sony, in having their targets approved by the SBTi since its launch in 2015.

The SBTI approval for Ikea’s targets comes less than a week after the retailer updated its 2030 People and Planet Positive strategy to include a bold new target of becoming “climate positive”.

Removing all single-use plastics products from its range globally, eliminating more greenhouse gas emissions than its value chain emits, and generating more renewables than it consumes are all headline goals of the ambitious strategy

The business currently owns more wind turbines than stores, as it closes in on a target to become “energy independent” by 2020, and has pledged to up its climate action by developing and improving practices that can capture and store carbon in the value chain, notably through carbon sequestration and better forest management.

The strategy additionally outlines plans for the global retailer to champion the circular economy as it restructures its business model to focus on PCR resource streams, product take-back initiatives and furniture repair services.

“Our ambition is to become people and planet positive by 2030 while growing the Ikea business. Through our size and reach we have the opportunity to inspire and enable more than one billion people to live better lives, within the limits of the planet,” Ikea Group’s chief executive Torbjörn Lööf said.

SOURCE: edie.net