SUSTAINABILITY GOALS GLOBAL
By IFAB MEDIA - NEWS BUREAU - January 8, 2024 | 129 7 minutes read
For over 30 years, LVMH has been committed to protecting the environment, driven by a long-term vision and a holistic and scientific approach across all its business sectors.
In 2021, the Group launched the LIFE 360 plan, which included objectives to be achieved by 2023, 2026 and 2030 and focused on four pillars: Creative circularity, Biodiversity, Climate, and Traceability & Transparency. The LIFE 360 Summit presented the major achievements of the Group and its Maisons while providing specific insights into future ambitions.
- Creative circularity: LVMH has achieved its 2023 target of offering new circular services by establishing a repair-and-care task force in several of the Group’s Maisons. For example, Louis Vuitton repairs 600,000 products per year, while 79% of Berluti’s leather products are repairable. RIMOWA offers a lifetime guarantee for its luggage and bags, and Le Bon Marché is extending the life of its products through an alterations service, as well as watch and shoe repair services.
With the creation of LVMH Circularity, an ecosystem that brings together the reuse and recycling expertise of the Group and its partners (Nona Source, the CEDRE platform, weturn, and Agence Don en Nature), LVMH is demonstrating its commitment to giving a second life to fabric and leather offcuts, unused raw materials and unsold products.
- Biodiversity: After having helped regenerate 1.37 million hectares by the end of 2022, LVMH is continuing its efforts to reach its target of regenerating five million hectares by the end of 2030. This ambition will be made possible:
- by launching various regenerative agriculture programs: in Türkiye for cotton, Australia for merino wool, South Africa for mohair, Indonesia for palm oil and France for Moët Hennessy vineyards and certain key perfume ingredients,
- by announcing a strategic partnership with Brazilian NGO FAS, which combats deforestation and by working to renew its partnership with UNESCO’s “Man and the Biosphere” program for the protection of biosphere reserves. These two partnerships complement the partnerships already secured with Reforest’Action, which carries out reforestation projects, and the Circular Biodiversity Alliance, which produces sustainable cotton. In continuation of these initiatives, the Group has implemented a water efficiency plan to reduce the Group’s overall water consumption footprint by 30% by 2030.
- Climate: Thanks to a reduction of 11% in its GHG (greenhouse gas) emissions scopes 1 and 2 (direct emissions) in absolute terms and 15% in its scope 3 (indirect emissions) per unit of added value between 2019 and 2022, LVMH has decoupled its growth from that of its CO2 emissions over the same period. This achievement was made possible by focusing on eco-design of products, a comprehensive energy efficiency plan, and a specific program dedicated to transport. The announced target of reducing energy consumption by 10% over the past year (October 2022 to October 2023) has also been surpassed.
Traceability & Transparency: The 2023 target of knowing the countries of origin of strategic raw materials is on track to being achieved, with the country of origin for diamonds, wool and leather known for 95-100% of products. The Group is also deploying new traceability tools from field to final product, such as the Perfumes & Cosmetics and Wines & Spirits divisions. The Group, which had set itself the target of “complete traceability” by 2026, is on track to achieve it. The certification rates for LVMH’s main supply chains have increased significantly over the past two years.
Beyond raising awareness, the Group has set a commitment to train all its employees in the Environmental Fundamentals by 2026. The LIFE Academy, which was created in 2023, is already providing staff with the skills they need to drive the transformation with specific content for each subject and initial pilot programs. Forty-five minutes outside of Paris, La Millière, a biodiversity reserve and association chaired by Yann Arthus-Bertrand, will soon host training on various topics necessary for creating differently, such as environmentally-friendly design, responsible sourcing, and the preservation and protection of natural resources.
