Ikea, a Swedish retailer of home furnishings, is projected to have a fiscal 2022 climate footprint of 25.8 million tonnes of CO2 equivalent (FY22). This result represents a reduction of 5% in absolute terms from the previous year and 16% from the baseline year FY16. The ongoing decline is mostly attributable to a higher proportion of renewable energy being used in production and retail.
Highlights of Ikea’s financial year 2022 include raising the proportion of renewable electricity used in its retail and other businesses from 71 to 76 percent. 24 Ikea retail stores are using 100% renewable electricity in FY22.
When compared to, the percentage of renewable electricity used in production climbed to 64%. In the year FY21, 52%. The programme that was started in FY21 to allow suppliers to buy renewable electricity was a major factor in the rise in China. The initiative will be introduced to ten more markets during FY23, including Germany, Turkey, and Sweden. Ikea asserts that it was one of the first companies to report the impact of outdoor air pollution along a value chain.
The urgency to act is greater than ever, with only six years remaining to keep global warming to 1.5°C. We are devoted to contributing in a meaningful way, adopting a whole value chain strategy, striving to become climate positive, and achieving a just transition. We seek to tackle sustainability work holistically because of climate change, According to Inter IKEA Group CEO Jon Abrahamsson Ring, inequality and nature loss are interrelated.
“About 2.4 billion individuals are exposed to harmful amounts of air pollution each year. Reducing air pollution and greenhouse gas emissions work in concert very well. We are taking the initiative with this report by being one of the first to reveal the air pollution produced throughout our value chain. Even though additional research is required, we believe that by openly disclosing our findings, we will motivate other businesses to tackle air pollution while addressing climate change, according to Inter IKEA Group’s head of climate Andreas Rangel Ahrens.
