The partnership between Inter IKEA Group and the Foundation, announced today, will focus on putting the home furnishing business on the global circular map and accelerating the transition to a circular economy within IKEA and beyond. Working together, one of our first projects will be to develop a common glossary of terms to support an industry-wide transition.
To become circular is one of our big ambitions and challenges for the future. It is a transformational shift of our entire business from how we develop our products and services, and source materials, to how we work through the supply chain and meet our customers. Our goal is to give products and materials a longer life through the four circular loops: reuse, refurbishment, remanufacturing, and, as a last option, recycling. We believe this requires an innovative mindset, leadership, and collaboration. We are very happy to be working with the Ellen MacArthur Foundation to speed up our own transition and make the circular economy a central part of the entire home furnishing industry.
The partnership will focus on several key areas — including advocating for circular design and inspiring a new generation of designers, working with policymakers to accelerate the transition to a circular economy, and developing new services and offers to encourage customers to acquire, care for, and pass on products in circular ways.
We are delighted to partner with IKEA, who share our belief that through the circular economy, businesses can play a vital role in meeting many of the challenges we face today, such as climate change, waste, and pollution. The circular economy empowers businesses to rethink how they create value in ways that benefit the environment, society, and the economy. This is an exciting opportunity to help transform an industry that is not only a significant part of the global economy, but has such a strong, personal connection to individuals and communities around the world.
IKEA already has a history of collaborating with the Foundation through the IKEA franchise, Ingka Group. The new partnership with Inter IKEA Group will raise ambition levels and benefit businesses across the IKEA franchise system and value chain.