The LIFE program
LVMH's LIFE (LVMH Initiatives for the Environment) program, launched in 2012, continues to drive substantial progress. The company's ambitious targets include a 25% reduction in CO2 emissions per product by 2025, compared to 2013 levels. As of 2022, LVMH has already achieved a remarkable 64% reduction, highlighting its commitment to combatting climate change. Additionally, the group has set a goal to source 100% renewable electricity for its maisons by 2023.
Environmental management systems
LVMH's emphasis on environmental management systems has yielded significant results. More than 60% of its maisons have achieved ISO 14001 certification, ensuring robust environmental practices. This certification reflects LVMH's commitment to consistently reducing environmental risks and enhancing sustainability across its extensive brand portfolio.
Raw material sourcing
Sustainable sourcing practices are a critical aspect of LVMH's efforts. In recent years, the company has made significant strides in responsibly sourcing raw materials. For instance, since 2020, LVMH has achieved a 98% traceability rate for its gold supply chain, ensuring ethical sourcing practices and minimizing environmental impacts associated with mining. Moreover, the group actively supports initiatives like the Responsible Crocodile Sourcing Program, ensuring the ethical treatment and conservation of endangered species.
Circular economy and recycling
LVMH's commitment to the circular economy is evident through its ongoing efforts to reduce waste and promote recycling. In 2020, the group launched "Nona Source," a new platform that connects its maisons with recycling and upcycling partners, fostering innovative solutions for waste reduction. Additionally, LVMH's "Restart Your Fashion Business" program encourages customers to extend the lifespan of their products through repair and restoration, reducing the environmental impact of fashion consumption.
Innovative design and manufacturing
LVMH places a strong emphasis on sustainable design and manufacturing practices. The group has invested in research and development to explore alternative materials and technologies that reduce environmental impact. For instance, they have utilized innovative fabrics made from recycled plastics, resulting in an impressive 22 million plastic bottles recycled into yarn for the production of their collections in 2021.
Education and awareness
LVMH recognizes the power of education and awareness in promoting sustainability. The company has taken several initiatives to educate both employees and consumers. For example, they have developed an internal e-learning platform called "One LVMH Green," providing employees with knowledge and resources to integrate sustainability into their daily practices. Additionally, LVMH regularly engages with customers through campaigns and events to raise awareness about sustainable choices and encourage responsible consumption.
