Ingka Investments, the investments arm of Ingka Group, the largest IKEA retailer, aims to invest about Euro 1 billion in companies that are increasing recycling infrastructure.
Every year, the global economy consumes 75% more natural resources than the Earth can regenerate. This generates tremendous amounts of waste, yet less than 20% of waste is recycled. To support the transition towards a circular economy, Ingka is aiming to invest about Euro 1 billion in companies that will contribute to recycling infrastructure.
Peter van der Poel, Managing Director, Ingka Investments, says: “Our Euro 1 billion ambition to invest in growing recycling infrastructure is crucial to Ingka Group’s broader sustainability strategy to go beyond our own operations. Through investments, we are committed to doing our part to ensure that valuable materials are recycled and reused in the production of new products. What would help us go further is if legislation was stronger at prioritizing recycling over incineration and landfilling, for example by ensuring that Extended Producer Responsibility schemes were resulting in higher recycling rates. We also welcome eco-design regulations to encourage the demand for these recycled materials and we are actively collaborating with relevant authorities and other stakeholders to address these issues.”
In 2017, Ingka Group established Circular Investments to invest in companies contributing to the transition to a circular economy with the focus to make a difference for plastics, mattresses, textiles, wood and food waste.
Ingka Group is the largest IKEA retailer and represents about 90% of IKEA retail sales.
