LVMH Announces the Implementation of an Internal Carbon Fund of More Than 5 Million Euros
10 November 2015 - 12:55AM
Business Wire
For the first time in its history LVMH announces the
implementation of an internal carbon fund which is already
estimated at over 5 million euros. The fund will be financed by
contributions from each Maison, calculated using 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 COP 21, with which LVMH is
one of the partners.
About LVMH
LVMH Moët Hennessy Louis Vuitton is represented in Fashion and
Leather Goods by a portfolio of brands that includes Louis Vuitton,
Céline, Loewe, Kenzo, Givenchy, Thomas Pink, Fendi, Emilio Pucci,
Donna Karan, Marc Jacobs, Berluti, Nicholas Kirkwood and Loro
Piana. Its Wines and Spirits division includes Moët & Chandon,
Dom Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier,
Château d’Yquem, Domaine du Clos des Lambrays, Château Cheval
Blanc, Hennessy, Glenmorangie, Ardbeg, Wenjun, Belvedere, Chandon,
Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape Mentelle,
Newton et Numanthia. LVMH is present in the Perfumes and Cosmetics
sector with Parfums Christian Dior, Guerlain, Parfums Givenchy,
Parfums Kenzo, Perfumes Loewe as well as other promising cosmetic
companies (BeneFit Cosmetics, Make Up For Ever, Acqua di Parma and
Fresh). LVMH is also active in selective retailing as well as in
other activities through DFS, Sephora, Le Bon Marché, la
Samaritaine and Royal Van Lent. LVMH's Watches and Jewelry division
comprises Bulgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred,
Hublot and De Beers Diamond Jewellers Ltd, a joint venture created
with the world’s leading diamond group.
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