April 2021: Ingka Group news

• IKEA submits action pledge to strengthen child rights
• Ingka Investments makes large-scale move into renewable energy in Russia
• Ingka Group commits additional EUR 4 billion to renewable energy
• Global People & Culture Manager speaks at The Future Work Scenarios summit
• IKEA named in top 100 most influential companies by TIME
• IKEA named one of Canada’s Greenest Employers for its People and Planet commitments

IKEA submits action pledge to strengthen child rights
IKEA has submitted an action pledge to accelerate efforts to strengthen child rights in the IKEA supply chain in support of the UN’s designation of 2021 as the International Year for the Elimination of Child Labour.

The announcement was made by Inter IKEA Group, which includes the IKEA franchisor, range, supply and certain manufacturing activities. The IKEA 2021 Action Pledge strengthens IKEA efforts on child rights within three areas:

• Further integrating children’s rights into the existing IKEA due diligence system
• Accelerating the work to promote decent work for young workers
• Partnering up to increase and scale efforts

Ingka Group efforts to respect and support child rights goes beyond the prevention of child labour. It is committed to being a child friendly retailer which means looking at all aspects of the business from a child’s rights perspective through the integration of the Children’s Rights and Business Principles.

Chief Digital Officer speaks at WEF Summit
The World Economic Forum, WEF, hosted a Global Technology Governance Summit, together with the Centre for the Fourth Industrial Revolution (C4IR) Network, comprising of more than 40 governments and international organisations as well as 150 companies worldwide. At the summit, Ingka Group’s Chief Digital Officer, Barbara Martin Coppola, spoke about using data to drive circular growth and using digitalisation to reach the company’s mission.

Ingka Investments acquires 49% stake in 8 solar PV parks in Russia
Ingka Investments, the investment arm of Ingka Group, will accelerate its investments in renewable energy by acquiring a 49% stake in 8 solar PV parks in South-West Russia. The total book asset value for the 8 parks is over RUB 21 billion (EUR 235 million). The transaction marks the first large-scale foreign investment into renewable energy in Russia by a non-utility company.

The parks will provide enough electricity to power all 17 IKEA Stores in Russia plus part of the MEGA shopping centres based around the country

Ingka Group accelerates investment in the transition to a renewable energy future with additional EUR 4 billion
Ingka Group announced it will accelerate its investments in renewable energy by an additional EUR 4 billion to support the transition towards a renewable energy future. The investment will support reducing the company’s climate footprint and a broader transition to a net-zero society.

In the past decade Ingka Group invested EUR 2.5 billion into renewable energy in onsite and offsite wind and solar power enabling the company to generate more renewable energy globally than it consumes. This acceleration, by Ingka Investments, to EUR 6.5 billion marks the next step towards 100% renewable energy across the value chain.

“We know that with the right actions and investments we can be part of the solution and reduce the impact on the home we share – our planet – while future proofing our business. For us, it is good business to be a good business,” says Jesper Brodin, CEO of Ingka Group.

Biesèrt speaks at The Future Work Scenarios summit
Ulrika Biesèrt, Global People & Culture Manager, Ingka Group, said that the Covid-19 pandemic had stress-tested the company’s culture during an event in April that explored how the world is redefining work post-Covid.

The Future Work Scenarios (FWS) summit brought together human resources and transformation leaders from the world’s top employers to reflect on the lessons learned from the past year and how we now set up in a different world of work.

Biesèrt’s wide-ranging speech laid out the details of how Ingka Group quickly adapted in the spring of 2020 as the Covid-19 pandemic spread. She highlighted the company’s commitment at the start of the pandemic to ensure income stability for co-workers and to safeguard basics such as medical insurance and pensions. “All of this created room for business and people to adopt to the new situation and to create a better sense of safety among co-workers,” she said.

IKEA included in TIME Top 100
“Which companies are shaping the future?” That was the question for TIME as they compiled their first-ever TIME100 Most Influential Companies list.
TIME credited IKEA for its sustainability progress, citing the 2030 aim to be become climate positive, as well as investments in wind farms and solar parks and the opening of its first secondhand store.

IKEA named one of Canada’s Greenest Employers for its People and Planet commitments
IKEA Canada was recognised for the 13th consecutive year as one of Canada’s Greenest Employers by Mediacorp Canada Inc. for its commitment to sustainable business practices. The designation recognises employers that lead Canada in creating a culture of environmental awareness and for having developed exceptional sustainability initiatives.

IKEA Canada continues to put sustainability at the forefront from furniture to food, production to home delivery and energy to investments. Initiatives include phasing out all non-rechargeable alkaline batteries and introducing more plant-based food options. It also supported more than

80,000 Canadians through CAD 1.7 million in product donations to the most vulnerable communities impacts by the COVID-19 pandemic in partnership with organisations like Furniture Bank.

Ingka Centres launches meeting place Livat Fuzhou
Ingka Centres, the shopping centres arm of Ingka Group, opened Livat Fuzhou, a new meeting place in Fujian Province, China. Like all Ingka Group meeting places, it is anchored by an IKEA store. The meeting place contains cycle bays, electric charging points and is easily accessible by public transport. Livat Fuzhou offers a variety of retail outlets, alongside food and beveage options and a place to relax and spend time with friends and family. 

This article is a monthly round-up of some of the activities from across Ingka Group.