The LEGO Group, in partnership with ClimeFi and Climate Impact Partners, has committed to invest $2.6 million (DKK 19 million) in carbon dioxide removal (CDR) initiatives.
The commitment spans over four different CDR projects that will generate carbon removal credits in the period between 2024 and 2026. This will expand LEGO’s CDR portfolio, which until now included a long-term direct air capture and storage deal with Climeworks.
Commenting on this decision, the LEGO Group expressed confidence that the chosen projects will have a positive impact on the wider environmental ecosystem.
The company is looking to both address its carbon footprint and contribute to global net-zero efforts. To that end, LEGO will channel investment into initiatives that tackle CO2 emissions via biochar, enhanced rock weathering (ERW), and reforestation practices.
With the help of ClimeFi, LEGO will support the work of two biochar projects and one ERW solution.
ClimeFi CEO and Co-Founder Paolo Piffaretti shared, “The projects were carefully chosen based on ClimeFi’s strict quality standards and underwent thorough technical review. The LEGO Group’s early adoption of these high-quality carbon removal solutions will help catalyze the growth of the carbon dioxide removal industry and help achieve our shared climate goals.”
The fourth CDR project to receive backing from LEGO is a large-scale reforestation initiative in the Lower Mississippi Alluvial Valley in the United States. LEGO has partnered with Climate Impact Partners to support this project via the purchase of carbon credits.
Sheri Hickok, CEO of Climate Impact Partners, expressed pride in teaming up with the LEGO Group on its climate action ambitions.
Relevant: Climeworks Enters Into 9- Year Carbon Removal Deal With LEGO Group
She stated, “This is a leading example of how the private sector can drive real impact—taking steps to reduce value chain emissions and simultaneously channeling finance to solutions, like reforestation, that deliver beyond value chain impact.”
LEGO also announced that beyond the $2.6 million commitment on its end, the KIRKBI company, a family-owned holding and investment firm that stands behind the LEGO® brand, has also made an almost $7 million (DKK 5 million) commitment with the same CDR initiatives.
Read more: Microsoft Extends Collaboration With Chestnut With New 7M Tons Of CDR
