Carbon funds: LVMH raises €6 million
In November 2015, LVMH boss Bernard Arnault signalled his engagement in environment protection, through the creation of a carbon fund within the group. The objective was to set up projects which would allow the reduction of the group's greenhouse gas emissions by 25%.
To reach the target, LVMH's CEO asked the group's brands to contribute to the fund according to their respective greenhouse gas emissions, and to the energy consumption of their manufacturing sites and stores. In 2014, the group generated approximately 370,000 tons of greenhouse gas.
A year after, the €5 million fund-raising objective was amply surpassed, as a total of €6 million has been collected. The French giant is now concentrating on developing the emission-saving projects, and vowed to repeat the initiative in 2017.
In order to be selected, a project needs to be focused on the reduction of energy consumption, on the utilisation of renewable energy or on promoting the creation of tools to measure French and international energy consumption.
LVMH stores are crucial to the initiative, since they are involved in 70% of the projects.
Copyright © 2024 FashionNetwork.com All rights reserved.
