LVMH unveils successes of the LIFE 360 plan and presents pioneering action programme

At the LIFE 360 Summit, LVMH presented its first successes, set ambitious targets for sustainable development and integrated suppliers with the LIFE XNUMX Business Partners programme, set ambitious sustainable development goals and integrated suppliers with the LIFE 360 Business Partners program

LVMH LIFE 360 Summit
Copyright by LVMH, Source by Philippe Servent

Author: House of Eden

  • Luxury conglomerate LVMH presents first successes of its Life 360 plan focussing on sustainable development.
  • Successful initiatives in the circular economy, biodiversity, climate, traceability and transparency.
  • Despite challenges in Scope 3, LVMH reaffirms realistic targets for 2026 and 2030, underlines commitment to full traceability and promotes sustainability through the LIFE 360 Business Partners programme.

The luxury conglomerate LVMH (Moët Hennessy Louis Vuitton) is considered the leader in the luxury industry. It owns up to 75 different brands, including Louis Vuitton, Christian Dior and Givenchy. The group has been pursuing its so-called LIFE program (LVMH Initiatives For the Environment) since 2011, which aims to reduce environmental impacts in the long term.

In 2021, LVMH finally launched the so-called LIFE 360 plan, which set sustainability goals for 2023, 2026 and 2030. The projects focus on circular economy, biodiversity, climate as well as traceability and transparency. LVMH announced the first results of this action program at the LIFE 360 Economy Summit on December 14th at UNESCO headquarters.

circular economy

The group has already achieved some success in the area of ​​circular economy. This includes, for example, the intensification of the repair and care task force for some brands. In addition, reuse and recycling services were increasingly offered with partner companies. Louis Vuitton, among others, was able to repair 600.00 products a year.

Biodiversity

By the end of 2022, LVMH had regenerated 1,37 million hectares of land. In addition, the Group has set itself the goal of continuing these actions so that 2030 million hectares have been regenerated by 5. They want to achieve this with all partnerships, for example with the company Reforest'Action, which specialises in reforestation projects, or the Circular Biodiversity Alliance, which is committed to sustainable cotton. All programmes for regulatory agriculture are also in place in countries such as Turkey, Australia, South Africa, Indonesia and France. They have also renewed their partnership with the UNESCO "Man and the Biosphere" programme to improve the relationship between people and the environment. A water efficiency plan is also intended to reduce the Group's total water consumption by 2030% by 30.

Climate & Environment

The company was also able to celebrate initial successes in the area of ​​emissions reduction: between 2019 and 2022, LVMH managed to reduce its greenhouse gas emissions in Scopes 1 and 2 (direct emissions) by 11 percent. In Scope 3, which defines a company's indirect emissions, the luxury titan still sees a need for improvement, despite emissions reductions of 15 percent. "Scope 3 emissions account for more than 90 percent of our environmental footprint and arise primarily from the impacts of raw materials and transport. This includes emissions from upstream and downstream of our value chain, not assets we own or control. From “For this reason, these emissions are the most difficult to reduce,” explained Hélène Valade, Environmental Development Director, LVMH.

Traceability and transparency

LMHV has also set itself the goal of full traceability by 2026. Here too, the company is well on track: over 95 per cent of the origin of its diamonds, wool and leather goods is already known.

Realistic objectives

The group has so far been able to meet its goals by 2023. The Life 360 ​​plan for 2026 and 2030 should also be feasible. With one exception: It will be particularly challenging to not use any plastics made from fossil fuels by 2026. Nevertheless, an action plan will be implemented starting this year. “We are more committed than ever to taking action as achieving our 2023 goals is just the beginning. Achieving our goals for 2026 and 2030 requires further hard work," said Antoine Arnault, Image & Environment, LVMH.

The LIFE 360 Summit

In addition to 500 guests, an immersive exhibition and presentations by managing directors from the LVMH houses, discussion panels and conferences were also organised on the topic of sustainable development and environmental responsibility. Renowned personalities such as Stella McCartney, Kim Jones from Dior and Fendi and Francis Kurkdjian from Maison Francis Kurkdjian Paris also shared their views and attitudes at the event. Workshops in the afternoon were followed by a fashion show by Kevin Germanier, who creates garments from unsold stock from well-known fashion houses as well as fabric remnants from Nona Source and Weturn.

The LIFE 360 Business Partners program

“To achieve our ambitious Scope 3 targets, both in terms of CO2 emissions and impacts on water and biodiversity, mobilizing suppliers is essential. LVMH is committed to supporting them with the LIFE 360 Business Partners program," reported Hélène Valade, Environmental Development Director, LVMH. LVMH would like to further reduce Scope 3 emissions with special initiatives for its suppliers and partners The approach? Collaboration with any other stakeholders that share suppliers with LVMH. These include, in particular, Chanel, Pernod Ricard, Martell Mumm and Perrier-Jouët. From 2024, the Sustainability Business Partners Days are also to be launched and a Life Academy will be introduced to share environmentally friendly practices.

LVMH as a pioneer of sustainable transformation

With its goals and actions, LVMH not only plays an important key role in shaping the global economy. The luxury conglomerate also demonstrates its efforts towards sustainable transformation: in 2019, LVMH came under harsh criticism because the company did not join the so-called Fashion Pact, which aimed for the net zero target. Chairman of the LVMH Bernard Arnault justified the decision by not identifying with all the values ​​of the brands in this pact and therefore preferring to go his own way.

By integrating environmental, social and governmental (ESG) criteria, the industry leader now wants to create groundbreaking values ​​in the long term. In addition, consumer trust is increasing and at the same time has a positive impact on the environment. In parallel, they now act as a role model for other companies: With their changes, LVMH sets standards that motivate other companies to take initiative. This can create a chain of sustainable actions towards CO2 reduction and environmental protection, which the entire industry so urgently needs.

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