By: The Working Forest Staff
IKEA Group has acquired its first U.S. forest property, covering approximately 25,000 acres in Lowndes County, Alabama. The investment in forestry is part of a broader strategy to invest in the sustainable production of resources that IKEA Group consumes directly, such as energy, or indirectly through its products (wood raw material, recycled materials, etc.). IKEA Group also owns more than 250,000 acres of forest land in Europe, located in Romania and the Baltic States.
“As a responsible forest owner, we are interested in identifying and applying sustainable management methods that will allow us to preserve and even increase the quality of the forest over time,” says Krister Mattsson, head of financial asset management, IKEA Group. “Entering the US market is a milestone for our investments in forests, and we believe we will learn a lot here while implementing our long-term approach to forest management and applying for the Forest Stewardship Council (FSC) certification.”
For its forest management in the U.S., IKEA Group has partnered with Campbell Global, a leader in sustainable timberland and natural resource investment, to oversee and operate the property.
“We are proud to be working with IKEA to promote our shared values,” said John Gilleland, CEO and Chairman of Campbell Global. “Responsible stewardship is the cornerstone of our culture. We are committed to managing sustainable, working forests to foster optimal forest health and provide direct benefits to local communities.”