LEGO Invests DKK 19m in Carbon Removal Projects, Emerging Tech
- The money will be used to back new carbon removal technologies, reduce carbon emissions, as well as improve biodiversity and water quality.
- Funnelling finances into reforestation, rock weathering, and biochar, delivering beyond value chain impact.
The LEGO Group, one of the world's leading manufacturers of play materials, has invested DKK 19 million in four carbon removal projects to double down on its sustainability initiatives.
These projects, in partnership with Climate Impact Partners and ClimeFi, will generate carbon credits between 2024 and 2026. The goal is to experiment and explore ways to reduce carbon emissions that transcend LEGO's operations.
The toy manufacturer's parent company, KIRKBI, also committed DKK 5 million to the same projects.
The company will focus on the following three important solutions:
Biochar
This process transforms waste plant material into a stable form of carbon, which can be captured and stored for the long term to prevent it from being released into the atmosphere. This will also improve soil health.
READ MORE: British Airways Invests £9M in Carbon Removal Projects
Enhanced rock weathering
To speed up natural weathering, rock powder is spread over farmland. This method is used to capture and store carbon and enrich the soil.
Reforestation
The toy producer is initiating a large-scale tree-planting project in the Lower Mississippi Alluvial Valley, USA. Its target is to restore more than 40,000 hectares of forest, provide accurate flood warnings, and improve water quality and biodiversity.
READ MORE: Lithos Carbon and Morin Ag Use Basalt for CO2 Capture
Annette Stube, Chief Sustainability Officer at the LEGO Group, said: "We are proud to support these climate initiatives, which we believe will have a positive impact on the wider environmental ecosystem.
"Innovative, high-quality carbon removal projects and emerging technologies have the potential to play an important role in supporting a more sustainable future, while reforestation has the potential to support improved biodiversity. These partnerships allow us to build our understanding of new technologies and practices to support a healthy planet for future generations.”
Follow KnowESG's Company News for regular news and views.
Discover an extensive network of ESG providers here
Check out KnowESG's latest ESG Event updates
Source: LEGO
Get the ESG Brief in your inbox
One concise email a week — the ratings moves, regulation deadlines, and vetted solutions that matter. Trusted by sustainability and finance teams.
No spam · unsubscribe anytime.
