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🗞️ Driving the news: Lego plans to replace fossil fuels in its bricks with more expensive renewable and recycled plastics, even as the company reports a 26% profit surge in the first half of 2024
• Sales to consumers grew by 14%, outpacing the broader toy industry, which has seen a decline due to reduced discretionary spending

🔭 The context: After testing over 600 materials with limited success, Lego aims to reduce oil content by paying up to 70% more for certified renewable resin
• The company plans to ensure that more than half of its resin needs by 2026 come from sustainable sources, using the mass balance method to trace materials

🌍 Why it matters for the planet: Transitioning to renewable materials helps mitigate the environmental impact of plastic production, aligning with global efforts to reduce reliance on fossil fuels and minimize plastic waste
• Lego's commitment may also encourage other companies to adopt similar sustainability practices, contributing to a greener supply chain

⏭️ What's next: Lego is on track to use only renewable and recycled materials in all its products by 2032
• The company’s initiative could increase the demand for sustainable plastic feedstocks, potentially driving down costs and expanding the market for renewable materials

💬 One quote: "With a family-owner committed to sustainability, it’s a privilege that we can pay extra for the raw materials without having to charge customers extra," Lego CEO Neils Christiansen said

📈 One stat: Lego’s first-half profit for 2024 increased by 26% to 8.1 billion Danish krone ($1.2 billion)

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