FUTURE LIFE: LVMH announces it will double its internal carbon funds as of 2018
>Press kit – 25th anniversary of LVMH Environment Department
The LVMH Group Environment Department celebrates its 25th anniversary in September 2017. This milestone offers an opportunity to spotlight pioneering initiatives in sustainability, look to the future with the “LIFE 2020” roadmap and announce its intention to double its internal carbon funds.
The world leader in luxury, LVMH pursues a long-term vision and has a special responsibility for exemplary performance in pursuing sustainability. This is why LVMH created a corporate level Environment Department back in 1992. From its founding, this department has supported the different Maisons and inspired a collective commitment to ensuring long-term development while respecting the environment.
LVMH focused even greater priority on environmental issues in 2012 with the creation of LIFE – LVMH Initiatives For the Environment – a comprehensive program that covers all 70 Maisons, including their production, procurement and retail operations and beginning right from product design. Now a required component in the strategic plans of all our Maisons, the LIFE program set out new objectives with the “LIFE 2020” roadmap, centered around four pillars “Products-Sourcing and supply chain-CO2-Sites”.
These realistic objectives were defined with input from staff from 30 LVMH Maisons, and are designed to be not simply met, but exceeded. For example, the initial target of using 10% renewable energy has already been achieved and increased to 30% by 2020.
Similarly, the Group will double its internal carbon funds as of next year: the calculation will henceforth be based on 30 euros per ton of CO2.
To celebrate 25 years of commitment to environmental excellence at LVMH, two exceptional “Future LIFE” evenings gave the chief executives of LVMH Maisons an opportunity to share their initiatives (click here to learn more about their commitments). Another highlight of this two-day agenda was a fashion show organized with the Central Saint Martins design school, resonating with the sustainable development partnership launched with the school earlier this year. A number of prominent guests were also invited to give talks, including Tony Estanguet, Paris 2024 Bid co-Chairman – of which LVMH is a partner – and Swiss aviator Bertrand Piccard, Initiator & Chairman of the Solar Impulse Foundation.
“By embedding ecological imperatives as a source of innovation, we have long made environmental responsibility a pillar of our growth strategy for 25 years. The LVMH Group is proud of its pioneering role and we aim to remain trailblazers,” says Bernard Arnault, Chairman and Chief Executive Officer of LVMH.
“We aim to go even further in achieving the environmental excellence. For this reason, we plan to double our internal carbon funds as of next year and thus reduce even more rapidly our greenhouse gas emissions,” says Sylvie Bénard, LVMH Group Environment Director.
“LIFE 2020” Objectives, some illustrations:
+10% improvement in Environmental Performance Index (EPI) of LVMH Group products.
Objective Supply Chain
70% of leather used sourced from tanneries certified by the Leather Working Group (LWG).
30% renewable energy use and a 25% reduction in CO2 emissions compared with 2013.
6.7 million euros invested since 2016 in the LVMH internal carbon funds.
+10% improvement in environmental performance at all sites and stores (water, energy, waste).
(Download the press kit here)