LVMH 2018 . E t h i c s a n d r e s p o n s i b l e p a r t n e r s h i p s
E T H I C S A N D R E S P O N S I B L E PA R T N E R S H I P S
THE LVMH GROUP CULTIVATES ITS DIFFERENCE THROUGH A CONSTANT QUEST FOR EXCELLENCE. WE MUST THEREFORE
BE EXEMPLARY WHEN IT COMES TO ETHICS, CORPORATE SOCIAL RESPONSIBILITY, AND RESPECT FOR OUR STAKEHOLDERS.
Benchmark ethical texts and their application
LVMH s commitments to its employees and stakeholders are reflected in its long-standing support for benchmark initiatives such as the United Nations Global Compact, and in the adoption of internal charters and codes of conduct which serve as benchmark texts for all of its Maisons. These include the LVMH Code of Conduct, the Supplier Code of Conduct, the Environment Charter and the Recruitment Code of Conduct. In 2017, LVMH also drew up a charter on working relations with and the well-being of fashion models, which is applied by all its Maisons worldwide. The Group has two dedicated bodies that ensure its values and benchmark ethical texts are applied at the operating level. They are: the Ethics and Sustainable Development Committee within the Board of Directors, which is com- prised mostly of independent directors, and the Ethics & Compliance department. The Group s senior executive team coordinates the initia- tives of the Ethics & Compliance department with the actions of the Audit, Internal Control, Operations, Procure- ment, Environment, Social Development, and Financial Communication departments. Given its businesses, LVMH reflects these commitments and values by paying special attention to various issues. It notably focuses on implementing an employee inclusion and personal growth policy; promoting and passing on expertise and key skills; protecting personal data; reduc- ing its impact on ecosystems and natural resources; and establishing and maintaining responsible supply chains.
LVMH works collaboratively to implement appropriate policies and systems, raise awareness within its Maisons and ensure they make progress, particularly in managing these issues and their relations with suppliers regarding environmental, social and ethical matters. It aims to pro- mote and ensure sustainable supply chains.
Fair and responsible relations with our partners
Supporting our partners is a key strategic priority. LVMH aims to establish long-term relations with them based on a shared quest for excellence and a desire to establish a set of common ethical rules, practices and principles. For example, the Group is developing a global policy to ensure that its partners and suppliers adopt best environ- mental, social and societal practices. The policy involves sensitizing them to the overall issues and providing train- ing in areas specific to their own activities. LVMH and its Maisons take a collaborative approach and support them with audits and the rollout of action plans, where necessary over 1,000 audits were conducted in 2018. LVMH s policy for the responsible sourcing of raw materi- als of animal origin is a key example of this commitment. The Group firmly believes it must continue to promote animal well-being, and protect species, the environment and working conditions all along the supply chain. LVMH plays a proactive role in improving and establishing best standards. It has been the driving force behind a certifica- tion procedure which means it can guarantee excellent practices and compliance with the highest standards by all its suppliers.
Further information can be found in the Environment section and in the 2018 Reference Document.