Swedish furniture giant IKEA has bought up 25,000 acres of forest in the U.S. state of Alabama in a bid to expand its use of sustainable wooden materials.
The investment in the forest in Lowndes County, Alabama is part of the company’s broader strategy to invest in the sustainable production of resources. This includes resources that it consumes directly, such as energy, or indirectly through its products, such as wood raw material or recycled materials. The Swedish furniture giant already owns more than 250,000 acres of forest in Romania and the Baltic States.
“As a responsible forest owner, we are interested in identifying and applying sustainable management methods that will allow us to preserve and even increase the quality of the forest over time,” Krister Mattsson, Head of Financial Asset Management at IKEA, said in a statement.
“Entering the US market is a milestone for our investments in forests, and we believe we will learn a lot here while implementing our long-term approach to forest management and applying for the Forest Stewardship Council (FSC) certification.”
For its forest management in the U.S., IKEA has teamed up with Campbell Global, which specializes in sustainable timberland and natural resource investment.
“We are proud to be working with IKEA to promote our shared values,” said John Gilleland, CEO and Chairman of Campbell Global.
“Responsible stewardship is the cornerstone of our culture. We are committed to managing sustainable, working forests to foster optimal forest health and provide direct benefits to local communities.”
IKEA has already allocated over 3 billion euros for resource and energy-independent investments. At the end of 2017, it owned 416 wind turbines around the world, including 104 in the U.S., which together produce some 900 million kWh of renewable energy per year.
Image credit: Tim Gorman via Flickr