LEGO owners to increase green energy investments

The owners of the LEGO Group intend to continue to invest in green energy.

Last year, the LEGO Group announced that the company had met its renewable energy targets early, confirming that the company’s operations were carbon neutral. Now, the fund that manages the wealth of the Kristiansen family – Kirbi A/S – is looking to invest further in renewable energy.

The family is planning to increase investment in green energy, after profits from Kirkbi A/S’ renewable assets trebled in 2017.

“We see this as an investment area,” Soren Thorup Sorensen, Kirkbi’s CEO told Energy Voice. “I’m very pleased that after beginning with this back in 2012, it’s starting to show up on the profit line.”

“The competition for the good projects has grown a lot bigger. Therefore we may also look at other technologies, including solar energy, which has now become a lot more efficient.”

As well as focussing on renewable energy, the LEGO Group is aiming to improve its sustainability by introducing elements made using bioplastics instead of traditional oil based materials. Kirkbi A/S is also looking at investing further in London property.

Bloomberg puts Kjeld Kirk Kristiansen’s wealth at $5.3 billion, with that of his children – Agnete, Sofie and Thomas – at around $4.9 billion each. Kirkbi owns 75% of the LEGO Group and 30% of Merlin Entertainments, which are the fund’s core assets.