Corporate Social Responsibility Initiatives of IKEA

Published: 2021-06-17 08:13:07
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Category: Corporate Governance, Corporation

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Ikea tops its industry by being the world largest furniture retailer and the global destination for ready-to-assemble furniture, appliances, home accessories and other goods. Ikea (n. d. ) stated that their organizational vision is to “To create a better everyday life for the many people”. Their organizational visions are strategically put in motion by focusing on the possibilities of a sustainable future by incorporating the resources of the organization to turn it into reality. The company objective is to develop a business model that creates opportunities for sustainability at the home of its consumers, reaching energy and resource independence, as well as improving the life of the people and communities which they affect through their business.
In response to sustainable living, Ikea offers wide-range of affordable energy-efficient home products that acknowledges and reduces the usage of limited resources in our plant. The organization visions their products as raw material by ensuring that what they produce for the consumers can be repurposed, reused, repaired, resold and recycled, an economic strategy they call circular consumption. To take action on the idea of sustainable raw material, IKEA states that 100 percent of the cotton and 77 percent of wood used for their products are now coming from a more sustainable source. The conventional method of growing cotton requires extensive amounts of chemical and water, which increase the cost of production and evidently makes it harder for farmers to earn income. Ikeas combats this method by developing a strategy that uses less water and fewer chemicals, while increasing the profits of the farmer. The organization focuses its next goal on maintaining that sustainable source of cotton production. .Owning more than 250, 000 acres of forests in Europe, Ikea had recently made a long-term investment in 25, 000 acres of forest land in Alabama to support its aim of long term supply of sustainable materials. IKEA formed a partnership with Cambell Global, a leader in sustainable timberland to maintain the monitor the newly invested land. IKEA’s Head of Financial Asset Management, Krister Mattsson stated that “As a responsible forest owner, we are interested in identifying and applying sustainable management methods that will allow us to preserve and even increase the quality of the forest over time”.
IKEA has granted funds for many organizations that focus on climate change and the reduction of greenhouse gas emitted in our atmosphere. Giving forty million euros to the We Mean Business Coalition, which focuses on inspiring business to cut down emission from their activities. Providing 8. 2 million euros to the organization Purpose Climate Lab, their objective is to help communities reduce their pollution and create a healthy environment for the future generations of their communities to live in. five million euros was also granted to Acumen Fund, an organization that partners with energy companies to provide clean, affordable energy to communities in East Africa, India and Pakistan.

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