Ikea bought 83,000 acres of land in July, and Apple bought 36,000 acres in North Carolina and Maine in April. Find out what they plan to do with it.
Last year, Google, Facebook, Apple, and Walmart bought into the renewable energy idea. They purchased vast amounts of land with the intention of turning them into solar and wind farms.
According to The Wall Street Journal, Ikea purchased nearly 100,000 more acres in Romania and the Baltic in late July. This news follows recent allegations accusing the company of "brutal logging practices" in Russia.
Ikea quit logging in Russia altogether, and now focuses on managing its own forests. The company uses one percent of the world's lumber supply in their products.
Why are these companies spending money on land when it is not their primary business? The answer is simple - investment. This is nothing more than a safe investment in renewable resources.
Ideally, they can find some middle ground with ecologists, foresters, and conservationists and build towards a better future for the environment.
While it may not be ideal, these huge companies have more power and available resources than many others.
Apple also partnered with the Conservation Fund to manage these forests properly. They hope to pool their knowledge and experience to achieve stronger conservation practices.
The Conservation Fund's goal is to create limits on how these "working forests " can be used beyond producing paper products. They are designed to "ensure sustainable harvests and restrict the subdivision or conversion of land to non-forest uses," the group stated.