Overview
- Inter Ikea Group announced on December 3 that it agreed to acquire roughly 24,000 hectares of forest in Latvia and Lithuania.
- The tracts are described as certified by the Forest Stewardship Council for sustainable management.
- The seller is reported as Finnish investment firm CapMan Natural Capital.
- Ikea says it will manage the forests responsibly, strengthen regional wood processing, support local economies and work with communities to preserve healthy forests for future generations.
- The move is presented as part of Ikea’s climate strategy to halve value-chain emissions by 2030 versus 2016 and reach climate neutrality by 2050.