The apartments of millennials everywhere are about to become a lot more sustainable.
Ikea announced Thursday that all of its products will be made from renewable and recycled materials by 2030 in an effort to comply with science-based targets to help limit global warming to the level prescribed in the Paris Climate Accord.
"The purpose of this strategy is to inspire, activate and lead us in our decision-making and goal setting so that we together can achieve the big positive changes we want to see in the world and for the entire IKEA ecosystem," the Scandinavian furniture giant said in a statement on its website. "This strategy gives us a roadmap to follow and outlines a strong, common longterm agenda for the entire IKEA value chain and franchise system."
According to the company's 2020 Sustainability Strategy, Ikea's wood usage and carbon emissions will nearly double by 2020 if it does not take action. The global initiative to stimulate corporate climate action through the adoption of science-based targets is led by the Carbon Disclosure Project, the World Resources Institute, the World Wide Fund for Nature, and the United Nations Global Compact.
The world's largest furniture retailer plans to stop using non-recycled plastic, use a more environmentally friendly glue in its chipboard, adopt a new recipe for its candles, serve more vegetarian food in its restaurants and make other changes to extend the lifespan of its products, CEO Torbjorn Loof told Reuters. Loof also said that Ikea plans to introduce a line of home solar products no later than 2025.
The move will decrease the environmental impact of its products by two thirds. An Ikea spokeswoman told Reuters that 60% of Ikea's products are currently made from renewable materials.
"We want to have a positive impact on people and the planet," Ikea said in its 2030 Sustainability Strategy. "For us it's about balancing economic growth and positive social impact with environmental protection and regeneration."
Ikea joins H&M, Coca-Cola (KO) - Get Report , Sony (SNE) - Get Report and every nation except for the United States in a quest to keep global warming growth below two degrees, as written in the Paris Agreement.