"The high carbon footprint for most of these materials, plus the capacity shortage for recycling, has motivated us to invest in these categories," Lukas Visser, investment director at Ingka Investments, stated. "The circular economy is in the very early stages, so we have to narrow down where we focus." This highlights the need for strategic investment in recycling to lessen waste and combat climate change.
"We feel it is so needed to create scale and volume, not only for IKEA's needs but also for market needs going beyond that," said Peter van der Poel. His insights reflect the growing urgency among companies to adapt their operations according to market demands and sustainability pressures.
Ingka Group plans to invest 1 billion euros primarily in recycling companies, focusing on textiles, mattresses, and plastics to tackle escalating waste management issues from discarded products.
The European Union is developing legislation to charge retailers for textile items sold, which aims to increase funds for better sorting and recycling amid overwhelming waste management challenges.
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