The investment arm of Ingka Group, the biggest global IKEA retailer, said it will invest 1 billion euros ($1.03 billion) into recycling companies as it aims to better manage the waste created when IKEA furniture, bedding or mattresses are thrown away and end up incinerated or in landfill.
The investment comes as the European Union is developing
legislation that would charge retailers a fee for every textile or clothing item sold in the bloc, to raise money for sorting and recycling ever-increasing amounts of discarded textiles that are overwhelming waste management services.