PARIS — LED lighting and energy-efficient cooling equipment are among tactics LVMH Moët Hennessy Louis Vuitton plans to use to reduce greenhouse gases produced by its stores and production sites.
The French luxury group said it would implement an internal carbon fund next year, with each of its brands contributing 15 euros per ton of carbon, creating a kitty estimated at more than 5 million euros.
The fund is to finance energy-saving equipment and the production of renewable energy, LVMH said.
“Today, respect for the environment is not only an imperative, it is also a lever that drives progress,” said Bernard Arnault, chairman and chief executive officer of LVMH. “The most beautiful materials used in viticulture and oenology, the creation of perfumes and cosmetics, fashion and leather goods and jewelry 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.”
The fund is considered an extra step in an internal program called LIFE — an acronym for LVMH Initiatives For the Environment — that was created in 2013.