Ikea Retailer to Invest $1 Billion in Recycling Firms

The investment arm of Ingka Group, the biggest global IKEA retailer, said it will invest €1 billion ($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…