IKEA has long been a leader of socially responsible corporations, turning waste into resources and protecting natural resources. Now they are taking on their next challenge to become a global leader in solar and wind development by planning to become energy independent by 2020. IKEA recently purchased a 20-turbine wind farm in Alberta, which produces more than double the company’s current electricity consumption in Canada, and it has installed 3790 solar panels on three stores’ rooftops in Ontario, allowing the company to produce more renewable energy than they consume. IKEA’s business strategy aims to reduce its carbon footprint and cut costs, improve its logistics, and to provide consumers with low-cost furnishings which save energy, water, and household waste. In addition, IKEA’s building sustainable stores that are 40% more energy and resource efficient, and is working with suppliers of wood and cotton to improve sustainable forestry and agricultural practices.

Having a positive impact on the environment has become increasingly valued. Companies are looking for ways to profit from confronting these environmental challenges. As governments sort out effects of climate change and implement emissions regulations, early investors like IKEA will find long-term revenue streams in these solid financial investments.

Article: http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/ikea-eyes-low-carbon-future-with-alberta-wind-energy-project/article15436596/

IKEA’s Plan: http://www.ikea.com/ms/en_CA/about-the-ikea-group/people-and-planet/energy-and-resources/#windfarm