LVMH's ambition to further accelerate on environmental commitments and protect biodiversity was recently unveiled at a news conference, organized alongside an event for the group's Life (LVMH Initiatives for the Environment) environmental program. The event, entitled Future Life, took place at LVMH's headquarters in Paris on Sept. 25, and gathered top executives of the group and its brands. The Life program, created in 2012, makes environmental imperatives an integral part of management processes and is implemented by each Maison's executive committee as an integral component of the strategic business plan.
At the Paris event, the company unveiled initiatives in biodiversity as well as product eco-design, the circular economy and energy consumption. It also presented new commitments including its brand-new Animal-based Raw Materials Sourcing Charter, which addresses the environmental, social and ethical issues faced by the fur, leather, wool and feather industries and provides for them a new frame of reference and sourcing rules.
LVMH's 2020 goals include getting 30 percent of its energy from renewable sources. With a 27 percent energy mix in 2018, the 30 percent target by 2020 is now likely to be exceeded. As for CO2 emissions, the 2020 target is to reduce them by 25 percent, and the group said that it is on track to meet this target. Regarding waste management, in 2018, 91 percent of the company's waste was either reused, recycle or transformed into energy. The company also said that it is on track to achieve 70 percent of the leather used by its brands sourced from Leather Working Group certified tanneries, as compared to 48 percent today.
A second edition of Future Life is scheduled to take place in New York on Oct. 24.