LVMH is awarded the prestigious triple “A” rating by the CDP for its leadership in terms of climate, forest and water protection
LVMH has been recognized for leadership in corporate transparency and performance on climate change, forests and water security by global environmental non-profit CDP (Carbon Disclosure Project), placing the Group on its annual “A List”.
LVMH is one of only 12 companies that achieved a triple “A”, out of more than 15,000 companies scored.
CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2022, over 680 investors with over US$130 trillion in assets and 280 major purchasers with US$6.4 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform. A record-breaking 18,700 companies responded.
A detailed and independent methodology is used by CDP to assess these companies, allocating a score of “A” to “D-” based on the comprehensiveness of disclosure, awareness and management of environmental risks, and also demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets.
“LVMH is pleased to see its longstanding commitment to sustainability acknowledged by CDP with a triple “A” score in 2022. LVMH would like to share this recognition with its suppliers and scientific partners. Measuring and communicating environmental impact across the LVMH value chain on climate, water and biodiversity – including forests – have proved to be powerful tools for fostering actions. Given our deep dependency on biodiversity, LVMH is particularly committed to scaling up regenerative practices within its supply chain that bridge the preservation of biodiversity and the fight against climate change”, said Antoine Arnault, LVMH Image and Environment.
“CDP saw nearly 20,000 companies disclose environmental data this year, including 70% of European companies by market value. COP27 showed the need for transformational change is more critical than ever if we are to limit warming to 1.5 °C. I’m therefore delighted that European companies make up nearly half of all “A List” companies around the world, including 15 with two “A” scores and eight with triple “A” scores for climate change, forests, and water security leadership. We must cut emissions by half and eliminate deforestation by 2030, alongside achieving water security on the same timescale – there is no route to 1.5°C without nature.
With the EU’s ground-breaking new reporting regulation, the CSRD (Corporate Sustainability Reporting Directive), now agreed, CDP “A List” companies are showing they are ahead of the game – taking clear action to reduce emissions and to address environmental impacts throughout their value chains. This is the type of environmental transparency and action we need economy-wide to prevent ecological collapse”, commented Maxfield Weiss, CDP Europe Executive Director.