The world’s leading luxury group has pledged to go ‘green’ by
introducing a new carbon fund, paid for by each of its luxury fashion
houses. LVMH announced it would implement a 5 million euro fund, financed
by contributions from each Maison, including Louis Vuitton, Celine, Fendi,
Dior and Givenchy.
The fund has been set up in part to calculate and offset the greenhouse gas
emissions generated by their activities, specifically in terms of energy
consumption in their production sites and stores. Examples of the projects
that will be financed by this fund are investments in energy consumption
reduction equipment (LED and cooling equipment) or the production of
renewable energy on an international scale.
‘The most beautiful materials used in viticulture and oenology , the
creation of perfumes and cosmetics, fashion and leather goods and jewellery
which are the heart of our business, are all provided by nature.
Environmental performance has been integrated into the growth strategy of
all our Maisons in the same way as quality, innovation and creativity.
Today respect for the environment is not only an imperative, it is also a
lever that drives progress.’, commented Bernard Arnault, Chairman and CEO
of LVMH.
The Maisons will each contribute 15 euros per tonne which is standard
current practice. The price will be reviewed each year. The carbon fund
will take effect in 2016.
The LVMH carbon fund is an additional step in the implementation of the
LIFE programme (LVMH Initiatives For the Environment) which the Group
created in 2013 in order to integrate the environment into the management
processes of each Maison. It fits within all of the Group’s activities in
relation to COP21, with which LVMH is one of the partners.
Image: Louis Vuitton