In celebration of Climate Week 2020, luxury group LVMH has reflected on its environmental commitments and introduced its new program, LIFE 360. As the new decade approaches, LVMH assesses its progress in sustainable development, using Climate Week as an opportunity to analyze its strengths and weaknesses in this area. The LIFE program, created in 2012, has managed to achieve several of its objectives for 2020, including a 25% reduction in CO2 emissions compared to 2013. LVMH now accounts for only 0.5% of emissions related to the textile industry. However, the company acknowledges that it has not completed some projects within the set timeframe. For example, LVMH aimed to achieve GODS and BCI certifications for 70% of the cotton used by its houses, but only reached 56%.
LVMH’s new program, LIFE 360, follows the same principles as LIFE 2020. Hélène Valade, Director of Environmental Development at LVMH, explains that the program aims to equally emphasize “artistic genius” and “natural genius” through a unique alliance between art, luxury craftsmanship, and the natural world. LIFE 360 takes a comprehensive approach with specific goals set for 2023, 2026, and 2030. The program focuses on four main areas: creative circularity, biodiversity, climate, and transparency. One of the key measures outlined by LVMH is the development of repair services in order to extend the lifespan of products. The company is also considering the issue of second-hand products. Additionally, LVMH plans to promote circularity across its 75 houses, meaning grape waste from the Wines & Spirits Division could be repurposed for perfumery. The program also places emphasis on regenerative agriculture, the use of 100% renewable energy by 2030, complete traceability of product components, and the development of sustainable e-commerce.
As LVMH continues to prioritize sustainability, it remains committed to driving positive change within the luxury industry. By implementing these initiatives and setting new goals, the company aims to reduce its environmental impact and contribute to a more sustainable future.
Useful links:
– LVMH’s Sustainable Engagement
– LVMH’s 2019 Sustainability Report
