LVMH sets results-driven sustainability goals
3 min read
In Paris last night at an event dedicated to the LVMH sustainability agenda, LVMH executive and board member Antoine Arnault presented LIFE. LIFE, which launched in 2012 and stands for LVMH Initiatives for the Environment, is the conglomerate’s 2020 plan to minimise their impact on the environment.
“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,” said Arnault. “We are committed to accelerating our work in that field and to going even further.”
LVMH’s 2020 goals include getting 30 percent of its energy from renewable sources and reducing carbon emissions by 25 percent throughout the company, even with their projected sales growth. They are on track to meet these goals, along with reducing the impact of its packaging by 10 percent and improving the way it sources a variety of materials like precious stones and furs.
View this post on Instagram
The Group announced the acceleration of its commitments to protect biodiversity during an event held in Paris yesterday centered on the LVMH Initiatives For the Environment program, or LIFE. The meeting spotlighted LVMH’s pioneering initiatives to protect biodiversity, along with concrete elements confirming its positive environmental performance, as well as ambitious goals for eco-design, engagement with the circular economy and reduced energy consumption. Watch the video and learn more about how the Group is making environmental excellence a key growth driver through 4 main pillars engaging all our business sectors and activities: ✔️Products ✔️Supply Chain ✔️CO2 ✔️Sites #Life2020 #LVMH
Sylvie Bénard, the Environment Director at LVMH, highlighted how long the conglomerate has been committed to the environment. “LVMH has been engaged in protecting the environment for more than 27 years, pursuing a long-term vision through a holistic and science-based approach.”
Other new initiatives include updating their guidelines on sourcing raw materials, like exotic skins and feathers, helping fight the fires in the Amazon and working with the Solar Impulse Foundation. LVMH also has their own carbon fund valued at €12 million to help bring down their emissions, although they are focusing on the reduction of carbon usage rather than offsetting.
One of the biggest moves LVMH made in their movement towards sustainability was taking a minority stake in Stella McCartney, who has been a leader in sustainable production for years. “I do not see the necessity to protect the environment as a constraint but as a huge creative inspiration,” McCartney said on stage at the event. “Fashion is about the future and the ecological imperative is the future. As such, I take the opportunity to be an advisor on sustainability to M. Arnault as a huge privilege.”
Liked this article? Sign-up to our newsletter for more.
Written by - Tara MacInnis