IKEA Sold More Than €1 Billion Of “Sustainable” Products In 2014
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The multinational giant IKEA sold more than €1 billion ($1.13 billion) worth of sustainable products last year, according to the company’s most recent sustainability report.
To be exact here, sales of these “sustainability products” — that is to say, products aiding people in generating or saving energy, reducing water use, cutting waste production, or leading healthier lives — rose ~58% in 2014, as compared to 2013.
The new report that provides these figures — The 2014 IKEA Group Sustainability Report — notes that the company’s “People & Planet Positive strategy” is being fulfilled at the same time as strong financial results, thereby validating the company’s decision to pursue it.
With regard to those “strong financials,” the company’s total sales increased to €28.7 billion ($32.1 billion) in 2014 — up 5.9% from the previous year.
In addition to the sale figures, the report also makes note of the fact that IKEA installed/committed to purchasing notable quantities of renewable energy capacity — IKEA is now committed to owning 224 commercial wind turbines, and has installed more than 700,000 solar panels to date.
The new installations/commitments bring the company somewhat closer to achieving its goal of generating more energy via renewables than it uses itself, by the year 2020.
A couple of other things worth noting, via the report:
- IKEA has saved €66 million ($74.5 million) via energy efficiency initiatives since 2010.
- IKEA is one of the biggest buyers of FSC-certified wood in the retail sector, anywhere in the world. In 2014, roughly 41% of the wood used/sold by the company was FSC certified or recycled.
- Around 75% of all the lighting products sold by IKEA in 2014 were LED or compatible with LED bulbs. As of September 2015, the company will sell only LED lighting.
- Roughly 76% of all the cotton used in products sold by the company in 2014 was sourced from “more sustainable sources” — which is, according to the company, a reference to decreased chemical and water use by the growers/suppliers.
Those interested can find out more here.
Image Credit: IKEA
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