Published on : Tuesday, January 19, 2021
Ingka Group, widely known as a parent company of IKEA recently declared that it has acquired forestland property in the U.S. from The Conservation Fund, a non-profit conservation organization that has protected over 8 million acres of land in the U.S. The acquisition strengthens Ingka Group’s commitment to responsible forest management, as conservation measures are fully included in the forest management plans.
The property is located in southeast Georgia near the Altamaha River Basin, designed for its high conservation value. It consists of approximately 4,386 hectares (10,840 acres). The forestland was sold to Ingka Group due to the company’s proven responsible forest management and will be managed by Ingka Investments, the investment arm ofIngka Group.
“We are honoured to work with Ingka Group and applaud its dedication to preserve and enhance forest quality in the U.S. and Europe. Well-managed forests provide essential benefits, including clean water and important wildlife habitat, as well as mitigating climate change,” said Larry Selzer, President and CEO of The Conservation Fund.
Ingka Group has assumed all legally binding agreements set in place by The Conservation Fund which include the obligation to protect the land from fragmentation, restore the longleaf pine forest, and safe-guard the habitat of the gopher tortoise (a priority species for conservation). Under these agreements the public will continue to enjoy access to the lands normally forbidden by typical forestland owners.
Ingka Group currently owns and responsibly manages around 248,000 hectares (approx. 613,000 acres) of forestland in the U.S. and Europe (Estonia, Latvia, Lithuania and Romania). To guarantee the management meets the highest environmental and social standards, Ingka Group’s forest management is audited by the Forest Stewardship Council (FSC®). In all countries where it operates, the management units hold the FSC certificate for forest management.
Tags: 8million acres, acquisition, conservation fund, Ikea, ingka group, non-profit conservation organization, parent company, US Forestland