Climate Change: Ikea will go green, produce more energy than it uses by 2030

The company has stated that it has invested more than $2.8 billion in solar and wind energy in the past decade.

The global climate change strike appears to be a roaring success. It has not just grabbed eyeballs, but it also resulted in effective change. Leading manufacturing companies, which together have a bigger carbon footprint than the aviation industry, have made green pledges and the latest one to join the list is Ikea.

The Swedish furniture company says that it will produce more energy than it consumes by 2030.

"Ikea is tackling climate change on all levels of the business, across the entire value chain. To become climate positive means reducing more greenhouse gas emissions than our total value chain emits while growing the IKEA business. We will not rely on carbon offsetting but store carbon in land, plants and products," the company stated in the official press release

Its holding company, Ingka, revealed on the official Ikea website that it is working on breaking even by the end of this year in terms of the green energy it produces. It added that it had spent $2.8 billion on solar and wind energy initiatives in the past ten years. They told Reuters last week that the company will continue investing in solar and wind farms across America. Ingka Chief Executive called it "good business."

Ingka will also offer something similar to what Tesla offers currently – it plans to sell solar panels in its stores starting 2025. It has already acquired a 49 percent stake in two US solar parks.

The decision comes at the heels of Amazon and Google announcing their own green initiatives. It seems a clever ploy to cash in on the recent Global Climate Action Summit and the ongoing climate change initiatives to publicise its corporate social responsibility initiative.

The company is also putting more emphasis on ecologically better products – it will make products that can be repurposed, recycled and resold. It stated that it will actually provide a circular service – it will buy back its own products.

In its stores, it will provide plant-based choices, such as plant-based meatballs and veg dogs.