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Lego’s Owners Look for Investments to Reduce Plastic
Lego makes almost 100,000 tonnes of plastic bricks every year. With a big focus on plastic waste and plastic pollution, the owners of the company are now looking to invest in ways to produce alternatives to plastic. By finding a plant-based alternative to plastic, the company hopes to reduce surplus plastic in environmentally friendly ways.
It is estimated that 381 million tonnes of waste plastic is produced each year. Much of it ends up in oceans, landfills and natural habitats all over the world. Waste plastic is responsible for the countless deaths of wild animals and sea creatures; from sea turtles and whales to wild deer in Japan, plastic has been found inside the digestive systems of a huge number of wild animals.
Plastic is still an increasing problem. A number of companies do recognise that plastic is a big issue and are doing what they can to find a solution; drinks companies are trialling alternatives to plastic straws and bottles; supermarkets are working with suppliers to reduce plastic packaging; and companies, such as The Ocean Cleanup, are producing new technologies to help clean up some of the plastic that already pollutes the environment.
Kirkbi, which oversees about $20 billion in assets on behalf of the family behind toymaker Lego, is looking for at least one new plastic project to invest in this year. Plastic waste is one of the key areas the company wants to invest in and intends to look into ideas such as new technology for producing alternatives to plastic.
The Lego family fund is underscoring its commitment to fighting plastic waste with the creation of a new portfolio for such investments, called Circular Plastic. The company, which makes almost 100,000 tons of plastic bricks each year, is trying to develop a product using renewable, plant-based materials, such as sugar cane.
The Future of Plastic
Unless we all make a big change, the problem of plastic pollution is not going to go away. We all need to do what we can to ensure that we, and our businesses, are doing everything we can to reduce, reuse and recycle plastic waste.
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