The REP Wrap: LEGO grows profits and sustainability spending
LEGO’s profits grew by 5% in 2024, during which period it also increased its strategic spending on sustainability. According to its latest set of annual reports, around a third of materials purchased by the toymaker to make its bricks came from renewable or sustainable sources, up from some 12% in 2023.
The average emissions intensity of green bond issuers dropped by 30% in the four years after issuance, according to a paper published this week by the Bank for International Settlements. Companies that labelled their debt as ‘green’ saw a combined fall in emissions of more than 10% in the period that followed, the report found. “Issuing a green bond has become a good indicator of reduced corporate emissions, notably for firms in carbon-intensive sectors or those that had been heavy emitters,” the authors wrote.
Last listed companies in Europe spent €250bn on capital expenditure aligned with the EU’s green taxonomy, according to figures released by the Platform on Sustainable Finance this week. Up 34% on 2022’s numbers, half of the capex went towards ‘enabling’ activities while 11% was allocated to ‘transitional’ activities.
TotalEnergies has entered a 15-year agreement to buy green hydrogen from German energy provider RWE. The deal, announced on Monday, sees the French oil major commit to purchasing around 30,000 metric tons of green hydrogen from 2030. Last month, TotalEnergies entered into a €1bn partnership with Air Liquide on two large-scale projects to produce renewable and low-carbon hydrogen in the Netherlands.
More than 40% of companies targeted by shareholder network Climate Action 100+ now qualify as having “enhanced governance” over their climate lobbying, according to InfluenceMap. Unilever and Enel were named by the NGO as being “broadly” aligned with best practice. Just 1% of the firms assessed publish a “detailed and accurate account” of their climate policy advocacy.
The Singapore Exchange has found that 28% of its listed companies met all 11 of its climate disclosure requirements in 2024. Of the 529 sustainability reports it assessed, 222 are published by firms required to produce reports in line with its TCFD-based regime. The weakest areas were scenario analysis, climate targets and the integration of risk management processes.