LVMH ANNOUNCES MAJOR WATER USE REDUCTION TARGET
Source: LVMH
LVMH Moët Hennessy Louis Vuitton is leader in sustainable water usage as France faces an unprecedented drought. The luxury group has incorporated water conservation into its "Life 360" global environmental targets, aiming to reduce its overall water consumption footprint by 30 per cent by 2030 across all its international activities.
As a leader in the luxury goods industry, LVMH acknowledges its responsibility to rally stakeholders and promote the sustainable use of water. This is why that for the past decade, LVMH has recognized the importance of reducing water consumption as a vital aspect of its environmental strategy. And the solution was to set ambitious targets to control water consumption throughout its entire value chain.
In response to French President Emmanuel Macron's water reduction targets announced on March 23, LVMH aims to exceed expectations. Macron's goals include recycling and reusing 10 per cent of water by 2030, but LVMH sets its sights on an impressive 30 per cent reduction. LVMH will utilize action plans in water-stress areas, by using pressure indicators and geolocation data. Expanding the group's regenerative agriculture program, launched in 2021, will further improve soil quality and water retention, contributing to water conservation efforts.
Source: LVMH
Furthermore, LVMH will prioritize adopting manufacturing processes that consume less water. The company has already implemented such systems within its Loro Piana brand, having a 25 per cent reduction in water consumption. Similarly, Hennessy, renowned for its cognac, successfully reduced water consumption by 26 per cent .
This commitment marks the first step in LVMH's comprehensive water strategy. The company will establish qualitative standards, seeking validation from the Science Based Targets for the Nature group—an alliance of NGOs that aids companies in assessing their impact on nature. These will reinforce LVMH's dedication to preserving water and minimizing its environmental impact.
Through its bold initiatives and ambitious targets, LVMH demonstrates its commitment to environmental sustainability. By taking proactive steps to reduce water consumption and prioritize its conservation. LVMH plays a crucial role in protecting and preserving the planet's invaluable resources for future generations.