LVMH, the world’s largest luxury conglomerate, has been recognized for its exceptional commitment to climate, forest, and water protection by receiving a triple “A” rating from CDP, the global environmental disclosure system. This prestigious honor places LVMH in an exclusive group of just 12 companies out of over 15,000 rated by CDP.
Established in 2000, CDP, also known as the Carbon Disclosure Project, serves as a leading platform for companies to disclose and report their environmental information related to climate change, water security, and forests. With over 18,700 companies and 1,100 cities and regions participating in its annual disclosure process, CDP has become a vital tool for measuring and communicating environmental impact.
For LVMH, the triple “A” rating from CDP highlights its long-standing dedication to sustainability and its efforts to evaluate and communicate environmental impact throughout its entire value chain. This commitment encompasses areas such as climate, water, and biodiversity, including the preservation of forests. Antoine Arnault, the company’s image and environment director, emphasizes the importance of scaling up regenerative practices within LVMH’s supply chain to address both climate change and biodiversity preservation.
CDP’s annual disclosure scoring process provides companies with a platform to showcase their environmental impact, risks, and opportunities, allowing for comparisons and benchmarks within their industry. This year, nearly 20,000 companies disclosed their environmental data, with 70% of European companies by market value participating. Maxfield Weiss, CDP Europe executive director, emphasizes the vital role European companies play in combating climate change, deforestation, and water security.
In order to limit global warming to 1.5°C, drastic measures are needed, including halving emissions, eliminating deforestation by 2030, and achieving water security within the same timeframe. This necessitates transformative action and a focus on nature conservation. The recent agreement of the EU’s Corporate Sustainability Reporting Directive (CSRD) further underscores the importance of environmental reporting and action. The companies recognized on CDP’s “A List” demonstrate their commitment to reducing emissions and addressing environmental impacts throughout their value chains.
Headquartered in Paris, LVMH is known for its extensive portfolio of luxury brands. Its drinks division includes renowned names like Moët & Chandon, Dom Pérignon, Hennessy, and Glenmorangie. In fashion and leather goods, LVMH holds iconic brands such as Louis Vuitton, Christian Dior, Givenchy, and Marc Jacobs. The watches and jewelry division features distinguished names like Bulgari and Tiffany & Co., while selective distribution is represented by DFS and Sephora.
LVMH’s triple “A” rating from CDP further solidifies its commitment to environmental leadership and sustainability. As one of only 12 companies to achieve this recognition, LVMH sets a high standard for the luxury industry and underscores the importance of integrating environmental considerations into business practices.
Useful links:
1. CDP’s Company Scores
2. LVMH’s Sustainability Initiatives
