PARIS--(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.
