IKEA wins circular economy award at World Economic Forum

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The Circulars is the world’s premier circular economy award program on the initiative of the World Economic Forum and the Forum of Young Global Leaders*.

New Delhi, January 24, 2018: IKEA has been selected as winner in The Accenture Strategy Award for Circular Economy Multinational at the world Economic Forum in Davos. IKEA has won this award in recognition of its work leading to sustainable transformation of the IKEA business in all aspects: from product development, material sourcing, supply chain development, logistics set up, to development of the meeting with customers. This comprehensive agenda paves the way for the use of more renewable and recycled materials, enabling materials and products to last longer while staying within the limits of our planet.

Patrik Antoni, Deputy Country Manager and Sustainability head, IKEA India said, “We are very proud of this achievement and reinforces our vision of creating a better everyday life for the many people. Sustainability needs to be integrated into businesses at all levels. In India, IKEA will take full responsibility at all levels to leave a positive footprint in everything we do, be it with supply chain, retail operations or in our product offer to create a more sustainable life at home. We have started many initiatives towards energy efficiency, waste management, recycling and community participation for a more sustainable India.”

In India, when it comes to sourcing, one of IKEA’s biggest priorities is to source locally available sustainable raw materials such as bamboo, jute, banana fibres, sugarcane, coconut, water hyacinth etc. that will make the IKEA range more sustainable and unique. And this is co-created with suppliers who share the same vision. IKEA has collaborated with Industree Producers in Karnataka to make special edition products from banana fibre that are sold in its stores worldwide. Around 800 women artisans are engaged in this initiative. IKEA has also partnered with a supplier in western India to manufacture products from 100% recycled plastic. IKEA is also talking to many state governments to set up bamboo sourcing facilities.

“Transforming IKEA into a “circular” business is one of our biggest ambitions and challenges for the future. It’s about smarter use of resources and from the very beginning designing products so they can be repurposed, repaired, reused, resold or recycled in any other way. It requires an innovative mind-set, working together with many stakeholders”, says Peter van der Poel, Managing Director, Range & Supply, Inter IKEA Group. “We are only in the beginning. This prize is inspiring and indicates that we are on the right track.”

The award ceremony took place on Monday, January 22nd of 2018 in Davos, Switzerland. The prize was accepted on behalf of IKEA by Peter van der Poel, Managing Director, Range & Supply, Inter IKEA Group.