We're taking a closer look at the good work other companies do outside of their main business operations. These companies may focus on improving sustainability, helping the environment, or giving back to the local community...First up we're looking at - LEGO®.
Description: Toy maker
HQ Location: Denmark
The LEGO Group was founded in 1932 by Ole Kirk Kristiansen and has been a family run business since with a grandchild of the founder, Kjeld Kirk Kristiansen now in charge. The name 'LEGO®' is an abbreviation of the two Danish words "leg godt", meaning "play well". The first ever LEGO brick was launched in 1958; since then LEGO® has grown to a company worth an estimated £10 billion, in part due to a fantastic brand that expands to video games, clothing and film franchises with the likes of Star Wars and Marvel.
Perhaps less well known is the LEGO Group’s contribution to tackling two key environmental issues: climate change and waste.
In the past, the company had successfully cut down the size of packaging, introduced FSC (Forest Stewardship Council) certified packaging, and invested in an offshore wind farm for an alternative energy source. LEGO® is committed to sourcing 100% renewable energy by 2020, and re-inventing how they manufacture their products in order to help combat environmental problems.
They will hire over 100 new employees to work on its sustainable materials project in Denmark. In addition, they plan to achieve a 90% recycling rate in 2026 by reducing and reusing production inputs.
The LEGO Group feels it has a unique responsibility to children, the builders of tomorrow, which is why it’s investing $150 million over the next 15 years in a broad effort to reduce the impact of its products on the environment.
They’re also using brand power to tackle social issues. It’s campaign, LEGO® LIFE, is a social network for kids and 'tweens' that aims to empower children through safe online play, featuring activities like building, coding and cleaning up a virtual river.
In one initiative, the LEGO Group challenged children in London, to apply their creativity and imagination, and solve real-world environmental and social challenges through coding. LEGO® built a group called RE:CODE London, a core component of an exciting partnership between the LEGO Group, the Mayor of London and the Institute of Imagination. It is also a part of the London Curriculum, a free resource for London schools that encourages classes to use the city as a living classroom
RE:CODE London encouraged 450 school children to design, build and code a LEGO® prototype device to help remove rubbish from the River Thames, harnessing the power of physical and digital play in a playful and engaging environment. The programme gives children the freedom to explore, experiment and problem solve, nurturing skills such as critical thinking, collaboration and innovation.
Find out how we're doing our bit with the launch of our new Ethical Investment Plans.
LEGO® is a trademark of the LEGO Group of companies which does not sponsor, authorize or endorse this site.
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The comments and opinions expressed in this article are the author's own and should not be taken as financial advice from Wealthify.