IKEA's Ingka Group to Invest €1 Billion in Recycling

Ingka Group, the largest global IKEA retailer, plans to invest €1 billion ($1.03 billion) in recycling companies to enhance waste management for textiles, mattresses, and other materials. This move aligns with the European Union's forthcoming legislation that will impose fees on retailers for each textile item sold, promoting recycling initiatives. Approximately €667 million of the investment will target new ventures focused on textile recycling, while the remainder will support existing partnerships with companies like RetourMatras and Morssinkhof Rymoplast. Ingka's Managing Director, Peter van der Poel, emphasized the importance of scaling recycling efforts not only for IKEA but for the broader market. The company aims to recycle as many products as it sells by 2030, addressing the high carbon footprint of conventional waste management. Ingka's strategy is part of a larger commitment to sustainability and circular economy practices.