Kirkbi, the $20 billion fund that oversees assets on behalf of the founding family of the LEGO Group, is looking to invest in at least one project that offers alternatives to plastic this year.
Kirkbi is chaired by Kjeld Kirk Kristiansen, the grandson of the LEGO Group’s founder, who is estimated to have a net worth of $7.3 billion. His children also play influential roles within the fund, with personal values of $7.1 billion each. The majority of Kirkbi’s returns come from the LEGO Group’s profits.
Last year, the fund already purchased stakes in Quantafuel AS, a Norwegian company working on sourcing energy from plastic waste. Now, Kirkbi is looking to double down on their environmental efforts with a special focus on plastic waste, but also looking at investing in solar and wind power.
The new portfolio focused on clean investments is called Circular Plastic. Chief Investment Officer Thomas Lau Schleicher noted that the family’s commitment to finding alternative materials and reducing excess plastic has nothing to do with the LEGO Group’s own use of it in production.
Independent of the actions of the LEGO Group’s founder’s descendants, the company itself has also been making efforts to improve its environmental impact. Recently, the Billund campus was furnished with a range of pieces made from excess plastic from LEGO production. There are also plans to replace plastic packaging with paper bags in LEGO products.