LEGO to Invest $1.4B in Sustainability Initiatives
The LEGO Group announced last week its pledge to achieve net-zero greenhouse gas (GHG) emissions by 2050 as part of its continued efforts to reduce environmental impact. The pledge is an extension of its existing near-term climate target to reduce GHG emissions by 37 percent by 2032 from a 2019 base, according to a company press release. The LEGO Group also said it plans to triple its investment in environmental sustainability over the next three years, spending more than $1.4 billion on sustainability-related activities. To meet its goals, LEGO has submitted its plans to the Science Based Targets initiative (SBTi), a leading regulator of corporate climate initiatives.
Total Retail's Take: The global children's toy company pointed to its young consumers in its decision to double-down on sustainability efforts. LEGO Group CEO Niels B. Christiansen said in a press release, "We know that children are looking to us to do what’s right. Caring for the environment is one of their top concerns and we receive hundreds of letters a year with great ideas from kids on how we can make a difference. They're holding us to account, and we must set ambitious goals and take meaningful and lasting actions to protect their futures.”
As part of its $1.4 billion investment, LEGO said it would design factories and facilities to be run in a carbon neutral way; increase the production and acquisition of renewable energy at its plants, offices and stores; take carbon dioxide emissions into account across all corporate decisions; and collaborate with its suppliers to collectively decrease their environmental impact. The company is holding itself accountable by working with the SBTi to develop the net-zero target over the next two years, as well as a climate transition plan. As more companies make commitments to invest in eco-friendly initiatives, consumers will be taking note. It's essential that retailers are transparent in their progress (or lack thereof) towards their sustainability goals.
Kristina Stidham is the digital content director at Total Retail and sister brands Women in Retail Leadership Circle and Women Leading Travel & Hospitality at NAPCO Media. She is passionate about digital media and handles video, podcast and virtual event production for all brands. You can often find her at WIRLC, TR, WLT&H or industry events with her camera and podcasting equipment—or at home on Zoom—recording interviews with thought leaders and business executives.
Kristina holds a B.A. in Media Studies and Production from the Temple University Klein College of Media and Communication in Philadelphia. Go Owls! When she's not in the office, she loves to go on long walks, sing around the house, hangout with her family and two pet guinea pigs, and travel to new places.