Fashion

LVMH is ahead of its sustainability roadmap


French luxury conglomerate LVMH is ahead of its sustainability roadmap
and announced new commitments for the environment and biodiversity on
Wednesday, when LVMH CEO Bernard Arnault welcomed executives from LVMH and
its Maisons to an event at the Group’s headquarters in Paris centered on
the LVMH Initiatives For the Environment program (LIFE).

The meeting highlighted LVMH’s initiatives for protecting biodiversity
as well as goals for eco-design, engagement with the circular economy and
reduced energy consumption. LVMH also presented new commitments, notably an
Animal-based Raw Materials Sourcing Charter.

Four objectives met for 2020

The LIFE program was launched in 2012 and since 2015, the Group’s 75
Maisons have integrated it into their strategic planning. In 2016, LVMH
further strengthened this policy and defined four objectives for 2020:
improving the environmental performance of all its products, applying the
highest standards for sourcing, improving key environmental performance
indicators for all sites and reducing CO2 emissions.

With 2020 just a few months away, the Future LIFE Paris event presented
the Group’s achievements in these four areas, along with concrete goals
moving forward. “We believe that environmental performance is a source of
innovation, creativity and excellence and as such must be considered in all
design and manufacture activities. … Our results speak for themselves. We
are making a commitment to accelerate our efforts in this area and
continually go even further,” commented Arnault.

Concretely, this means for renewable energy, that the target of 30
percent of LVMH’s energy mix is likely to be exceeded, it being 27 percent
in 2018. In terms of CO2 emissions, the Group is on track to meet the
target of reducing them by 25 percent by 2020. In terms of waste
management, 91 percent of waste was reused, recycled or transformed into
energy in 2018.

LVMH’s carbon footprint reduced

LVMH’s Carbon Fund doubled the price per metric ton of CO2 generated
from 15 to 30 euros in 2018, thus further accelerating initiatives to
reduce CO2 emissions. Not used as offsets, the funds directly finance
CO2-reducing projects for the Maisons; 112 projects in 2018.

In terms of materials, 48 percent of the leather used by LVMH’s Maisons
is sourced in Leather Working Group (LWG) certified tanneries. The target
of 70 percent will be achieved by the end of 2019. LVMH tanneries are
already LWG certified. LVMH has already achieved 99 percent of its 100
percent objective for Responsible Jewelry Council certification of diamonds
used by 2020.

Guest of honor Stella McCartney spoke for the first time at an LVMH
event since the partnership between her fashion house and the LVMH Group
was announced in July. She explained her motivations for adopting
environmental responsibility in the fashion industry in terms of both
design and procurement and discussed her role as special advisor on
sustainability issues to Bernard Arnault and members of LVMH’s executive
committee. Maria Grazia Chiuri, artistic director of Dior, shared the ways
that nature inspired her runway show at the Longchamp racecourse the
previous day.

Beyond these commitments, LVMH also announced new strategic partnerships
to support its initiatives in sustainable development and protecting
biodiversity: emergency aid to preserve the Amazon, a partnership with the
Solar Impulse Foundation and funding of the AgroParisTech Foundation
Ecological Compatibility Chair.



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.