Finland-headquartered Neste said this week that it had agreed to a partnership with Sweden's IKEA to increase the use of renewable bio-based materials.
The Scandinavian partnership aims to grow the market for bio-based products, by replacing virgin fossil feedstock with renewable or recycled waste and residue materials.
"IKEA wants to contribute to a transformational change in the industry and to the development of plastics made from recycled or renewable sources," Lena Pripp-Kovac, sustainability manager at IKEA said in a statement released earlier this week.
Pripp-Kovac added that the company's goals were to reduce usage of plastics from palm oil and its feedstock and promote adoption of sustainable recycled or renewable sources.
The companies said hoped that others will join the initiative.
