Biggest IKEA Retailer to Invest $1 Billion in Recycling Firms

Amsterdam: The investment arm of Ingka Group, the largest global IKEA retailer, has announced plans to invest 1 billion euros ($1.03 billion) into recycling companies. This strategic investment aims to enhance the management of waste produced from discarded IKEA furniture, bedding, and mattresses, which often end up incinerated or in landfills.

According to Radio Television Brunei, this initiative is being launched as the European Union is working on new legislation that would impose a fee on retailers for every textile or clothing item sold within the bloc. The collected fees are intended to fund sorting and recycling efforts to address the increasing amounts of discarded textiles that are burdening waste management systems.