Swedish furniture giant IKEA has missed its August 2015 target of generating at least 70 per cent of its energy from renewable sources, revealing that just over half of its energy consumption is now powered by renewables.
The firm revealed the news yesterday in its latest annual sustainability report, but insisted it is still on track to meet its target of producing as much renewable energy as it consumes by 2020.
Over the past 12 months the firm has invested in a large network of solar, wind, and biomass projects as part of its pledge to become “energy independent”.
Since May its Nordic operations – covering Norway, Sweden, Finland and Denmark – have been completely powered by a fleet of wind farms and biomass plants. Poland is also on track to become “energy independent” by the end of the year once the wind farms IKEA purchased in February become operational.
However, despite boosting its clean energy production by 11 per cent on 2014, the company still fell short of its 2015 targets.
In a statement sent to BusinessGreen a spokesman for IKEA said it has committed to owning and operating enough wind farms over the course of 2015 to hit the 70 per cent target, but many of the sites are not up and running yet – causing it to miss the August 2015 deadline it had set. “We have committed to own and operate 314 wind turbines, and have installed almost 700,000 solar panels on our buildings and are on track to reach 100 per cent in 2020,” he added.
IKEA reported a better performance against its other targets. It has met its 2015 pledge to source all cotton used by IKEA from sustainable certified sources, and now purchases 50 per cent of its wood from sustainable sources – putting it ahead of its 2017 deadline. It has now pledged to raise its sourcing of sustainable wood to 100 per cent by 2020.
Since 2009 IKEA has invested €1.5bn in clean energy, the company said. Earlier this year it pledged to invest a further €600m in renewables, as part of a €1bn pledge to tackle climate change. It has also made a number of high profile sustainability moves, including transitioning its lighting ranges to sell only energy efficient LED lighting solutions andintroducing the ‘veggieball’, which have a carbon footprint of 30 times lower than its meat equivalent.