Ikea to shift to renewable energy

Ikea, the world’s largest furniture retailer, will shift to renewable energy by 2020 and grow more trees than it uses under a plan to safeguard nature that has won support from environmentalists.

The group, which wants to build on many customers’ desire for a greener lifestyle, also said yesterday it would limit sales by 2016 to energy-efficient products including induction cookers and LED light bulbs.

“This will be a great driver of innovation,” said Mikael Ohlsson, chief executive of the firm which is known for its flat-packs and giant stores that are expected to be visited by 776 million people this year.

Ohlsson said he had no doubt the “People & Planet Positive” strategy would save money both for Ikea and its clients, although he declined to estimate total savings.

— Reuters