- Balance Sheet
- Posts
- š Against a brick wall.
š Against a brick wall.
Lego scraps plans to ditch oil-based plastics.
Thereās only one thing more painful than stepping on a Lego brick, and thatās burning alive as climate change sets the world ablaze. Unfortunately, our favorite Danish toymaker has hit a snag in its efforts to stop using oil in its bricks. Still, itāll be helpful to have something to give the grandchildren to stop them asking what weāve done to the planet.
The lowdown
Featured story
Lego abandons efforts to make an oil-free brick
Legoās sustainability efforts have shown just how complex the energy transition can be. The world's biggest toymaker is scrapping its plans for an oil-free brick after the alternative led to even higher carbon emissions.
Two years ago, Lego announced it had tested a prototype brick made of recycled plastic bottles, but CEO Niels Christiansen told the FT that the new equipment required would make it a less environmentally friendly option. The companyās head of sustainability said the shift was ālike trying to make a bike out of wood rather than steelā.
Instead, Lego is focusing on reducing the carbon footprint of ABS, the oil-based plastic it currently uses. Right now, ABS needs about 2kg (4.4lbs) of petroleum to make 1kg (2.2lbs) of plastic. Itās also tripling its sustainability spending to $3 billion a year by 2025, which Lego admits could hurt profits.
The content we're consuming today
NY Times: Want to hear another billionaireās succession plan? Hereās what will happen to Bloomberg when its founder dies. ($)
CNBC: āWho should I hire? Will I get rich?ā Fortune telling is a booming business in Singapore
WSJ: How to deal with the trickiest phrase you can hear from a manager: Iād love your feedback. ($)
Off-balance sheet items
What happens if your dating profile becomes a meme? These people found out the hard way.