The earnings report for the first half of 2024 released today by Danish toymaker Lego Group contained a number of highlights, particularly as regards the company’s progress towards its sustainability goals.
While the company delivered double-digit growth on the top- and bottom-line and significantly outpaced the toy industry, gaining market share, at the same time it continued to advance its initiatives to transition to a more sustainable future.
In the first six months of 2024, 30 percent of all polymer purchased by Lego Group was certified mass balance, which translates to an estimated average of 22 percent material from renewable and recycled sources.
This is a significant increase from 2023, when for the full year, 18 percent was certified mass balance which equated to 12 percent sustainable sources. Over the coming years, the company aims to purchase more than half of its raw materials from sustainable sources via the mass balance principle and, by doing so, reducing its use of virgin fossil materials.