Keen to reduce their carbon footprint, LEGO are looking into investing in green energy as a way to not only maximise profits but lead the way in sustainability in the toy market. Kirkbi, the company in charge of the LEGO $16bn asset fund, met the goal of matching LEGO energy consumption with an equivalent amount of green energy, an impressive achievement.
LEGO has been closer aligning itself with sustainability in toy manufacturing over the last number of years. Most recently it detailed its plans to start making certain LEGO components out of sugar cane and plant-based plastic.
While the move has been criticised as ‘not enough’ from some environmentalists, the move to invest more in renewable energy by its asset management team could signal a greater step in the charge for sustainability within the toy space.
Generating electricity from fossil fuels is fast becoming less economically viable as renewable energy technology drops in costs, according to a report published by Bloomberg New Energy Finance.
In most places, wind and solar energy will be cheaper than coal by 2023.
“We started looking very early, but looking at renewable energy today, there are many, including pension funds, who are eager to invest,” said Sorensen.
“We have now built up some expertise in this area at Kirkbi, and are now looking at whether this gives us the opportunity to make further investments.”
Hopefully this won’t lead to too many changes in the composition of the hallowed brick, a piece of engineering that can survive intact and unchanged for decades. While there’s room in every dojo for eco-friendly alterations, it would be criminal to change a classic.