NETHERLANDS - Ingka Group, the largest IKEA retailer, has strengthened its climate targets for reducing greenhouse gas (GHG) emissions, which have been validated and approved by the Science Based Targets initiative (SBTi).

Initially set in 2018, these science-based targets have already led to a 24.3% reduction in the company's climate footprint, alongside a 30.9% increase in revenue compared to the 2016 baseline. The updated targets are part of IKEA's enhanced climate ambition titled ‘Net Zero and Beyond’.

In November 2023, Ingka Group aligned its climate targets with the Science Based Targets initiative (SBTi) Corporate Net-Zero Standard, receiving approval in April 2024. These revised targets commit Ingka Group to reducing absolute greenhouse gas emissions across its value chain by at least 50% by FY30 (compared to FY16 baseline) and achieving net zero emissions by 2050, without relying on carbon offsets to meet these reduction goals.

“The climate crisis is one of the biggest challenges facing humanity, and as a business, we are committed to driving impactful action,” says Jesper Brodin, CEO of Ingka Group. The company's reframed climate ambition, from “Climate Positive” to “Net Zero and Beyond,” underscores its alignment with the Paris Agreement and the imperative to limit global temperature rise to 1.5°C.