Ingka Investments, the investment arm of Ingka Group which represents the largest IKEA retailer, announced it has acquired 23,883 hectares (19,276 hectares of forestland) in Finland, Estonia and Latvia.
The properties in Finland comprise a total of about 8,600 hectares (8,000 hectares of forestland), and are located in North Savo and the North Karelia regions. The Estonian (total of 9,500 hectares, out of which 6,300 hectares is forestland) and Latvian (5,800 hectares, out of which 4,900 hectares is forestland) properties are spread across the two countries. The forests have a mix of species – mainly pine, birch and spruce – with an average age ranging from about 35 to 50 years.
Ingka Investments is guided by the overall IKEA Forest Positive Agenda for 2030 which will further strengthen the efforts towards improving forest management and enhancing biodiversity globally and locally. The agenda focuses on three key areas to protect and support forest resources for generations to come, including making responsible forest management the norm across the world: halting deforestation, reforesting non-arable landscapes, and driving innovation to use wood in smarter ways.
Ingka Investments currently owns around 293,000 hectares (ha) of land where it is managing existing forests and growing new forests: 143,000 ha in the Baltic states; 76,000 ha in the US; 51,000 ha in Romania; and 23,000 ha in Aotearoa New Zealand. Ingka Investments is committed to a long-term presence in all countries where it operates and plans its forest management accordingly.
Responsible Forestry Management includes monitoring the growth of forests, and never harvesting more than the forest grows. The forests Ingka Group owns have a net growth estimate of 0.4 million cubic metres per year, and in FY23 Ingka Group planted 11 million seedlings across the entire portfolio, around the world. In addition, the detailed mapping and monitoring that takes place ensures areas of high conservation value are identified and preserved. Large sections of forests are exempt from any harvesting and specifically earmarked to protect rare, threatened, or endangered habitats and to foster biodiversity.
