Live news: Oil prices rise on expectations of higher demand from US and China

Lego has abandoned its highest-profile effort to ditch oil-based plastics from its bricks after finding that its new material led to higher carbon emissions, in a sign of the complex trade-offs companies face in their search for sustainability.

The world’s largest toymaker announced two years ago that it had tested a prototype brick made of recycled plastic bottles rather than oil-based ABS, currently used in about 80 per cent of the billions of pieces it makes each year.

However, Niels Christiansen, chief executive of the family-owned Danish group, told the Financial Times that using recycled polyethylene terephthalate (RPET) would have led to higher carbon emissions over the product’s lifetime as it would have required new equipment.

Read more about Lego here.