Ikea plans to use 70% renewable energy by 2020

October 23, 2012
By Shawn Wright @shawnmwright

Swedish-based home furnishings retailer Ikea said it will switch to renewable energy by 2020.

The company will invest $1.95 billion until 2015 in solar and wind power to produce at least 70% of the company's energy, Reuters reported. By 2020, Ikea said it would produce as much renewable energy as it consumes.

Also by 2020, Ikea plans to grow at least as many trees as it uses to make products such as beds or cupboards.

Steve Howard, Ikea's chief sustainability officer, told Reuters that the company is a "little under halfway in terms of investments."

Using renewable energy is not new to Ikea. The company owns wind farms in six European countries and has 342,000 solar panels on its stores, warehouses and factories that generate 27% of the company's electricity, Reuters reported.

Earlier this month, Ikea made another energy announcement when it said that it will only sell LED lighting by 2016 in all of its North American stores.

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