Ikea was recognized for its work toward the circular economy during the World Economic Forum recently. The retailer, which has set aggressive goals toward sustainability and recycling, received the Accenture Strategy Award for Circular Economy Multinational. The award was given for work Ikea has done in developing products, impacting the supply chain, sourcing and mapping material in its business and implementing circular design principles.

Accenture, the global professional services company, issued Circular awards in seven categories. Ikea was the only retailer honored. The fourth annual awards competition received nearly 300 entrants from 45 counties.