COP28: United Nations Climate Change Conference

The ambition at COP28 is to renew national climate targets and develop a consensus-based action plan with clear next steps. This year is an important milestone in global negotiations, with the first-ever climate target stocktake slated to conclude during the conference in December.

At IKEA, we believe that, together with our partners and by leading with facts, science, and concrete action, we can use our reach and influence to play a role in accelerating climate action. Inter IKEA will be attending COP28 focusing on the following topics.

It's critical to switch to 100% renewable energy and phase out fossil fuels - the root cause of climate change. We're committed to the phase-out of fossil fuels and have a clear agenda to drastically reduce our emissions across the entire IKEA value chain and to move towards renewable energy.

For example, we have a program supporting suppliers in 13 markets to purchase renewable electricity, including Poland, China and India, who represent three of our largest purchasing countries. During FY22, the share of renewable electricity in production increased to 64% compared to 52% in FY21. A total of 111 additional factories or suppliers achieved 100% renewable electricity. Read more about the renewable energy program here.

We all need to play our part. To encourage further action, we've joined the We Mean Business Coalition's Fossil to Clean campaign in advance of COP28, calling for leaders to set a global target of tripling renewable electricity capacity to at least 11,000 GW and doubling the rate of deployment of energy efficiency by 2030. We will also be openly supporting a complete phase-out of fossil fuels at COP28, helping to encourage countries to increase ambition and set clear targets.

IKEA has long promoted responsible sourcing within our business. We have steered market transformation for key raw materials and continue to use innovative approaches to forest management, protection, restoration, and regeneration. IKEA is committed to no deforestation and no forest degradation across our primary deforestation-linked commodities (soy, palm oil, beef, leather, coffee, cocoa, rubber, wood, and sugarcane), with a target date of December 31, 2025*. All wood used in IKEA products is sourced from responsibly managed forests which do not contribute to deforestation. Read more about our forest positive agenda here.

This year, nature is an overarching topic in focus at COP28. IKEA is assessing our impact and dependency on biodiversity, and is a strong supporter for business taking a holistic approach and more action to protecting and restoring nature.

Air pollutants and greenhouse gas emissions often come from the same source and there is a strong connection between the actions needed to reduce emissions. What had been missing for companies is a scientifically robust method that provides the appropriate approaches to measure air pollutant emissions across their value chain.

To address this, Inter IKEA Group, together with Stockholm Environment Institute (SEI) and the Climate & Clean Air Coalition (CCAC), developed the first-ever guide for businesses on measuring outdoor air pollution across value chains. During 2023, together with five other businesses, we have tested the methodology developed by SEI and have disclosed our air pollution inventory. During FY24, we are refining the data and assessing the already existing climate mitigation scenarios to identify gaps where we could strengthen our commitments to help reduce air pollution. At COP we will continue to promote the guide and its further development.