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Ikea to invest $220 million to make it a 'climate positive business'

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Ikea is one of many major businesses attempting to reduce its impact on the environment.

The money will focus on, among other things, using renewable energy in its supply chain.The Inter Ikea Group has said it will invest 200 million euros to accelerate its transition into what it describes as a "climate positive business."

"Our ambition is to reduce more greenhouse gas emissions in absolute terms by 2030 than the entire Ikea value chain emits, while growing the Ikea business," the Inter Ikea Group's CEO, Torbjörn Lööf, said in a statement Thursday. In the report, released in March, Ikea also noted that "decoupling" its growth from greenhouse gas emissions would "take time", adding that it expected emissions to "increase for a few years before decreasing."

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