Present forestry blocks cowl 4290 hectares whereas 19,205 hectares of farmland had been purchased to show into rotational pine forests.
On its web site, it mentioned shopping for land in New Zealand, the US, Romania and the Baltic states was a part of its long-term dedication to accountable forest administration.
“Wooden is a necessary a part of the IKEA id. We spend money on forestland as a result of we imagine we are able to play an necessary position in supplying wooden from extra sustainable sources for our on a regular basis lives.”
Among the extra outstanding gross sales embody Huiarua Station and Matanui Station within the Gisborne area with a mixed space of simply over 6000 hectares.
Ingka Investments paid $88 million for the 2 farms which have been being planted into rotational forestry till 2026.
An Ingka Investments spokesperson mentioned whereas the corporate didn’t have a selected land acquisition goal, it did intend to make additional investments.
“We’re dedicated to being in Aotearoa New Zealand for a few years and are taking a long-term strategy to our planning.
“Our objective is to guard and help forest assets for generations to come back, we need to create long-term employment alternatives, help native biodiversity by the protected components of our forests, and assist to sequester GHGs [greenhouse gases] by the expansion of our bushes and thru the soil of the protected components of our forests.”
The corporate mentioned it had a small administration group primarily based in Tauranga that oversaw all Ingka Investments properties, and it additionally labored with forest administration firms Forest 360, Logic Forest Options, IFS Progress, and Southern Forests.
“Our common strategy is to spend money on areas of resilience and sustainability that additionally supply returns.
“These are long-term investments spanning throughout a long time in a cloth that may be a important a part of the IKEA id.
“In Aotearoa New Zealand, now we have invested in each afforestation tasks and present forestland.
“Nevertheless, we don’t take part in any kind of carbon farming.
“We don’t intend to promote carbon credit as a part of our routine enterprise practices and we aren’t at present engaged in carbon offsetting.
Ingka Investments mentioned it was proud that its forests may very well be a part of the answer to local weather change, however utilizing them as a supply for different firms to offset their carbon emissions was “not why now we have forests”.
– RNZ
