Ingka Investments Expands Forestland Portfolio in Finland and Baltics

Ingka Investments, the investment arm of Ingka Group which represents the largest IKEA retailer, announced (2-21-24) that it has acquired 23,883 hectares (59,016 acres) in Europe—of which 19,276 hectares (47,632 acres) are forestland—in Finland, Estonia, and Latvia as part of its long-term commitment to responsible forest management.

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 (9,500 hectares, of which 6,300 hectares are forestland) and Latvian (5,800 hectares, of which 4,900 hectares are 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 currently owns around 293,000 hectares (724,000 acres) of land where it is managing existing forests and growing new forests: 143,000 hectares in the Baltics, 76,000 hectares in the US, 51,000 hectares in Romania, and 23,000 hectares in New Zealand. Ingka Investments is committed to a long-term presence in all countries where it operates and plans its forest management accordingly.

According to the press release, 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.