Demark-based retailer Ikea Group has announced the People & Planet Positive sustainability strategy to encourage renewable energy across the chain.
The initiative is in addition to its decision to invest €1.5bn ($1.bn) in wind and solar projects.
The company seeks to shift to renewable energy across all operations, while providing customers with energy efficient products.
Ikea has installed over 342,000 solar panels on stores and buildings and has tied up with 180MW of wind energy projects across the globe.
The group plans to meet 100% of its energy needs through renewable sources by 2020.
Ikea Group president and CEO Mikael Ohlsson said that the firm has been working towards sustainable practices for many years and is now ready for the next step.
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By GlobalData"People & Planet Positive will help us to do that; transforming our business and having an even greater positive impact on the world," he added.
Ikea Group chief sustainability officer Steve Howard said, "People & Planet Positive will also enable us to take our responsibilities in the supply chain further over the coming years by, for example, only using renewable energy to power our buildings and advocating for children’s rights."
