REPORT ON IKEA

REPORT ON IKEA: GREEN BUSINESS

SUBMITTED TO – SUBMITTED BY –
Dr. Anita Gangrade Dimpal Sharma
Pooja Bhardwaj
Aayushi Gangrade
Deepak Bagra

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 REPORT ON IKEA

Introduction 3-4

About IKEA 5

Green initiatives 6

ESG initiatives 7

Sustainability 8
strategies
Conclusion 9

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 REPORT ON IKEA

GREEN BUSINESS
Green business is a concept that has been gaining momentum in recent years as individuals and
corporations become increasingly aware of the negative impacts of human activity on the
environment. Green business refers to companies that prioritize environmentally friendly practices and
strive to minimize their impact on the environment. These businesses may use sustainable materials,
reduce waste, and conserve resources such as energy and water.

SUSTAINABILTY
One related concept to green business is sustainability. Sustainability is defined as meeting the needs
of the present without compromising the ability of future generations to meet their own needs. In the
context of business, sustainability means taking a long-term view of business operations and ensuring
that they are environmentally, socially, and economically sustainable.

CIRCULAR ECONOMY.
The circular economy is an economic model that is focused on reducing waste and maximizing the
use of resources. In a circular economy, products are designed to be reused, repaired, and recycled,
rather than thrown away. This approach helps to reduce the amount of waste generated by
businesses and promotes the efficient use of resources.

GREEN BUSINESS APPROCH

Green business approach involves using sustainable practices and technologies to minimize the
environmental footprint of businesses, while still being profitable and successful. Green business
practices can have a wide range of benefits for companies, the environment, and society as a whole.
For companies, green business practices can help to reduce costs, increase efficiency, and improve
their brand image. By using sustainable materials, companies can reduce their reliance on non-
renewable resources and save money on raw materials.

By reducing waste and conserving resources, companies can also reduce their operating costs and
improve their bottom line. For the environment, green business practices can help to reduce pollution,
conserve natural resources, and mitigate climate change. By using sustainable materials and reducing
waste, companies can help to reduce the amount of waste that ends up in landfills and oceans.
By conserving resources such as energy and water, companies can reduce their carbon footprint and
help to mitigate the effects of climate change. Finally, green business practices can have a positive
impact on society as a whole. By promoting sustainable practices, companies can help to create a
more sustainable future for everyone. This includes promoting social and economic sustainability, as
well as environmental sustainability.
By creating products and services that are environmentally friendly, companies can also help to
improve the health and well-being of people around the world. There are many different ways that
companies can implement green business practices. One common approach is to use sustainable
materials in their products and packaging.

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 REPORT ON IKEA

This can include using recycled materials, renewable resources, and biodegradable materials.
Another approach is to reduce waste and conserve resources by implementing energy-efficient
practices, using renewable energy sources, and promoting water conservation. In addition to these
internal practices, companies can also promote sustainability through their marketing and outreach
efforts. This can include promoting sustainable products and services, partnering with environmental
organizations, and educating customers about sustainable practices.

In conclusion, green business is an important concept that can have wide-ranging benefits for
companies, the environment, and society as a whole. By prioritizing environmentally friendly practices
and striving to minimize their impact on the environment, companies can reduce costs, improve their
brand image, and create a more sustainable future for everyone. As more companies adopt green
business practices, we can create a more sustainable world for future generations.

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 REPORT ON IKEA

IKEA is a Swedish company that was founded in 1943 by

Ingvar Kamprad. The company started as a small mail-order
business that sold household goods such as pens, wallets,
and watches. Kamprad quickly expanded the business to
include furniture, and in 1956, the first IKEA furniture
showroom opened in Älmhult, Sweden.

Today, IKEA is one of the world's largest furniture retailers,

with over 400 stores in 52 countries. The company is known
for its affordable, flat-pack furniture that is easy to assemble and transport. IKEA's products are designed to be
stylish, functional, and accessible to people from all walks of life.

VISION
IKEA's vision is to create a better everyday life for many people. The company's mission is to provide affordable,
well-designed furniture and home furnishings that are accessible to people around the world. To achieve this
mission, IKEA is committed to sustainability, innovation, and social responsibility.
One of IKEA's core values is democratic design. This approach to design is focused on creating products that are
not only aesthetically pleasing but also functional, affordable, and sustainable. IKEA's designers work closely
with engineers, manufacturers, and suppliers to create products that meet these criteria while also being
accessible to as many people as possible.
IKEA's commitment to sustainability is reflected in its many environmental initiatives. The company is
committed to using renewable materials, reducing waste, and conserving resources such as energy and water.
IKEA has also made a commitment to become carbon neutral by 2030, and it has invested in renewable energy
sources such as wind and solar power to help achieve this goal.

COMMITMENT
Another important aspect of IKEA's mission is its commitment to social responsibility. The company is
committed to promoting diversity and inclusion, and it has implemented policies to ensure that all employees
are treated fairly and with respect. IKEA is also committed to giving back to the communities where it operates,
and it has donated millions of dollars to charitable causes around the world.
In addition to its commitment to sustainability and social responsibility, IKEA is also known for its unique
company culture. The company's founder, Ingvar Kamprad, was known for his frugality and his commitment to
simplicity. These values are reflected in the company's culture, which emphasizes efficiency, innovation, and
collaboration. One of the most distinctive aspects of IKEA's culture is its "flat" organizational structure. The
company is organized into small, autonomous teams that are responsible for specific aspects of the business.
This approach allows for quick decision-making and fosters a culture of innovation and creativity.

In conclusion, IKEA is a unique and innovative company that has had a major impact on the furniture industry.
The company's commitment to sustainability, innovation, and social responsibility has helped it to become one
of the world's largest and most successful furniture retailers. IKEA's vision of creating a better everyday life for
many people is reflected in its commitment to affordable, well-designed products that are accessible to people
from all walks of life. With its unique company culture and commitment to excellence, IKEA is sure to continue
to be a major force in the furniture industry for years to come

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As a company that values sustainability, IKEA has taken several green initiatives to reduce its
carbon footprint and promote environmental stewardship. Some of the key green initiatives of
IKEA are as follows:

 Using Renewable Energy: One of the most significant green initiatives of IKEA is its
investment in renewable energy sources such as wind and solar power. IKEA has invested in
wind farms and solar panels in various countries to reduce its reliance on non-renewable
energy sources. In addition, the company has set a target to produce more renewable energy
than it consumes by 2020.
 Sustainable Materials: IKEA is committed to using sustainable materials in its products. The
company has set a target to use only renewable and recycled materials in its products by
2030. To achieve this goal, IKEA is exploring innovative ways to recycle and reuse materials,
such as turning old plastic bottles into textiles for its products.

 Energy Efficiency: Another key green initiative of IKEA is its focus on energy efficiency. The
company has set a target to reduce its energy consumption by 20% per product by 2020. To
achieve this goal, IKEA is using energy-efficient lighting, heating, and cooling systems in its
stores and warehouses.
 Circular Economy: IKEA is committed to the circular economy, which involves designing
products that can be recycled or reused at the end of their life cycle. The company has set a
target to become a circular business by 2030, which means that it will only produce products
that can be recycled or reused. To achieve this goal, IKEA is exploring new business models,
such as furniture rental and buyback programs.

 Water Conservation: IKEA is also

committed to conserving water.
The company has set a target to
reduce its water consumption by
50% per product by 2020. To
achieve this goal, IKEA is using
low-flow faucets and toilets in its
stores and warehouses.
 Sustainable Transport: Another key green initiative of IKEA is its focus on sustainable
transport. The company has set a target to make all of its home deliveries using electric
vehicles by 2025. In addition, IKEA is working to reduce the carbon footprint of its supply
chain by using more sustainable transport options, such as trains and ships.

 Social Responsibility: IKEA is committed to social responsibility and environmental

stewardship. The company has set a target to have a positive impact on people and the
planet by 2030. To achieve this goal, IKEA is partnering with organizations such as the World
Wildlife Fund and UNICEF to promote sustainability and social responsibility.
In conclusion, IKEA's green initiatives demonstrate its commitment to sustainability and environmental
stewardship. The company's focus on renewable energy, sustainable materials, energy efficiency, the
circular economy, water conservation, sustainable transport, and social responsibility is helping to
reduce its carbon footprint and promote a more sustainable future. IKEA's green initiatives are an
example of how companies can take a proactive role in promoting sustainability and making a positive
impact on the planet.

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Environmental, social, and governance (ESG) initiatives are becoming increasingly important for
companies as consumers and investors demand greater transparency and accountability. As a
company that values sustainability and social responsibility, IKEA has taken several ESG initiatives to
promote a more sustainable future. Some of the key ESG initiatives of IKEA are as follows:

Environmental Sustainability: As discussed earlier, IKEA is committed to reducing its carbon footprint
and promoting environmental sustainability. The company has set a target to become climate positive
by 2030, which means that it will reduce more greenhouse gas emissions than it produces. To achieve
this goal, IKEA is investing in renewable energy sources, using sustainable materials, focusing on
energy efficiency, and promoting the circular economy.

Social Responsibility: IKEA is also committed to social responsibility and promoting human rights. The
company has set a target to have a positive impact on people and the planet by 2030. To achieve this
goal, IKEA is working to improve working conditions in its supply chain, promote diversity and
inclusion, and support local communities. For example, IKEA has partnered with the United Nations
Refugee Agency to provide shelter, education, and livelihood opportunities to refugees.

Governance: IKEA is committed to maintaining high standards of corporate governance and ethical
conduct. The company has a Code of Conduct that sets out its expectations for ethical behavior, and it
has established policies and procedures to prevent corruption and bribery. In addition, IKEA has a
whistleblowing system that allows employees and external stakeholders to report any violations of its
Code of Conduct.

Sustainability Reporting: IKEA is committed to transparency and accountability, and it regularly reports
on its sustainability performance. The company's Sustainability Report provides information on its
environmental and social performance, as well as its progress towards its sustainability goals. In
addition, IKEA has been recognized for its sustainability reporting, and it has received several awards
for its transparency and accountability.

Sustainable Product Design: Another key ESG initiative of IKEA is its focus on sustainable product
design. The company designs its products with the environment in mind, using sustainable materials
and minimizing waste. In addition, IKEA encourages customers to repair and reuse their products to
extend their lifespan.
Responsible Investment: IKEA is committed to responsible investment, and it has established a
foundation to promote social and environmental initiatives. The IKEA Foundation supports programs
that improve the lives of children and families in need, and it has invested in sustainable energy
projects in developing countries.

In conclusion, IKEA's ESG initiatives demonstrate its commitment to sustainability, social

responsibility, and ethical conduct. The company's focus on environmental sustainability, social
responsibility, governance, sustainability reporting, sustainable product design, and responsible
investment is helping to promote a more sustainable future. IKEA's ESG initiatives are an example of
how companies can take a proactive role in promoting sustainability and making a positive impact on
the planet and society

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IKEA is a company that has built its reputation around sustainability and environmental
consciousness. The company has implemented several sustainability strategies to reduce its carbon
footprint and promote sustainable practices throughout its supply chain. Some of the key sustainability
strategies of IKEA are as follows:

Renewable Energy: IKEA is committed to using renewable energy sources to power its operations.
The company has invested heavily in wind and solar energy projects, and it has set a target to
produce as much renewable energy as it consumes by 2020. As of 2019, IKEA had installed over 1.5
million solar panels on its stores and distribution centres worldwide.

Energy Efficiency: In addition to using renewable energy, IKEA is also focused on improving energy
efficiency throughout its operations. The company has set a target to reduce its energy consumption
by 20% per product by 2020. To achieve this goal, IKEA is investing in energy-efficient lighting and
equipment, as well as implementing energy management systems.

Sustainable Materials: IKEA is committed to using sustainable materials in its products. The company
has set a target to use only renewable and recycled materials in its products by 2030. To achieve this
goal, IKEA is investing in sustainable materials such as bamboo, cotton, and recycled plastics. The
company is also using sustainably sourced wood in its products, and it has established partnerships
with organizations such as the Forest Stewardship Council (FSC) to promote responsible forestry
practices.

Circular Economy: IKEA is committed to promoting a circular economy, in which waste is minimized
and resources are reused and recycled. The company has set a target to become circular and climate
positive by 2030. To achieve this goal, IKEA is designing products that can be easily disassembled
and recycled, and it is promoting the repair and reuse of its products through initiatives such as the
IKEA Buy Back program.

Sustainable Transport: IKEA is committed to reducing the environmental impact of its transport
operations. The company has set a target to reduce its emissions from transport by 70% per product
by 2030. To achieve this goal, IKEA is using more sustainable modes of transport such as electric
vehicles and biofuels, as well as optimizing its transport routes to reduce the distance traveled.

Water Stewardship: IKEA is committed to promoting responsible water use throughout its operations.
The company has set a target to reduce its water consumption by 50% per product by 2030. To
achieve this goal, IKEA is investing in water-saving technologies such as low-flow faucets and water-
efficient production processes.

In conclusion, IKEA's sustainability strategies demonstrate the company's commitment to

environmental consciousness and social responsibility. The company's focus on renewable energy,
energy efficiency, sustainable materials, circular economy, sustainable transport, and water
stewardship is helping to reduce its environmental impact and promote sustainable practices
throughout its supply chain. IKEA's sustainability strategies are an example of how companies can
take a proactive role in promoting sustainability and making a positive impact on the planet and
society.

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In conclusion, IKEA is a company that has established itself as a leader in sustainability and
environmental consciousness. The company has implemented a range of initiatives and strategies to
reduce its carbon footprint and promote sustainable practices throughout its operations and supply
chain.

One of the key strengths of IKEA is its commitment to renewable energy, with a target to produce as
much renewable energy as it consumes by 2020. The company has invested heavily in wind and solar
energy projects, and has installed over 1.5 million solar panels on its stores and distribution centres
worldwide. Additionally, IKEA's focus on energy efficiency and sustainable materials is helping to
reduce its environmental impact and promote responsible consumption and production.

IKEA's circular economy initiatives, such as the IKEA Buy Back program, demonstrate the company's
commitment to reducing waste and promoting the reuse and recycling of resources. The company's
efforts to reduce water consumption and promote responsible water use also demonstrate its
commitment to environmental sustainability.

Furthermore, IKEA's commitment to social responsibility is demonstrated through its partnerships with
organizations such as UNICEF and Save the Children, as well as its focus on fair labour practices and
ethical sourcing.

Overall, IKEA's sustainability initiatives have set a high bar for other companies to follow. The
company's focus on renewable energy, energy efficiency, sustainable materials, circular economy,
sustainable transport, and water stewardship is not only good for the environment, but also promotes
responsible business practices and social responsibility. As IKEA continues to evolve and expand, its
commitment to sustainability and environmental consciousness will remain a key focus, and will
continue to drive the company's success and positive impact on the planet and society

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