What Is IKEA’s Plan For All Of The East Texas Forest They Bought?
The company that owns IKEA has been buying up tens of thousands of acres of forestland across the United States. Their most recent purchase includes 42,000 acres of East Texas' Piney Woods.
According to The Dallas News, Ingka Investments (the owner of IKEA) recently made the East Texas purchase, as well as a smaller land buy in Oklahoma. The company now owns more than 100,000 acres of forestland in the US, and with the additional forestland they own in Europe, they now have more than half a million acres of forestland.
But why is the company buying up all of this forestland?
They started acquiring the land in 2015, when timber prices started to increase across the globe. The intent of the company is to create their own sustainable timber operations.
Krister Mattsson, managing director of Ingka Investments, told The Dallas News:
"We are committed to manage our forests in a sustainable way, with proper care for people and environment, and at the same meeting our business objectives"
IKEA's parent company adds that their forestry plan is certified by the Forest Stewardship Council. Adding that their plans are “climate positive”, and that they're committed to the parameters set forward by The Paris Climate Agreement.
There are multiple IKEA stores in Texas, including two locations in the Dallas area, in Frisco and Grand Prairie.