COP28: LVMH investing €1M to combat deforestation in Amazon
06 Dec 2023 --- LVMH vows to redouble its initiatives to protect biodiversity and combat climate change in line with its LIFE 360 environmental program.
At COP28, LVMH is also launching a new project with the Foundation for Amazon Sustainability (FAS). It aims to combat deforestation, seen as one of the main threats to ecosystems in the Amazon region.
Investing €1 million (US$1.08 million) in its partnership with FAS, the French multinational says it is balancing environmental protection with environmentally sustainable development that “respects local cultural contexts.”
“In keeping with the ambitious sustainability goals set by LVMH as part of our LIFE 360 roadmap, the LIFE in Stores initiative is key to optimizing our stores’ environmental performance and reducing their footprint. [We] strive to offer customers a unique experience and adhere to the highest standards, from the design and operation of our stores to the focus we place on our customers and society,” says Antoine Arnault, head of Image & Environment at LVMH.
Protecting the environment
LVMH says it is “stepping up” its initiatives to protect biodiversity and combat climate change — continuing that “companies have a major role in the fight against climate change.”
Environmental action has been part of LVMH’s growth strategy for approximately 30 years, with the company attending COP 26 and 27. LIFE 360 is LVMH’s environmental action program, based on four pillars: The fight against climate change, biodiversity protection, creative circularity and traceability.
LVMH announces that it will combat deforestation in the Amazon.The conglomerate says it is combating global warming across its value chain (scope 3) by supporting ecosystem and soil preservation initiatives to increase soil carbon storage capacity. It is also focusing on protecting biodiversity and solidifying its access to raw materials from nature that are used in all six of its sectors.
LVMH’s overall objective is to regenerate five million hectares of wildlife habitat worldwide and limit the environmental impact of its activities. This project focuses on three main areas: Biodiversity and ecosystem conservation, education and capacity building and sustainable supply chains on the ground.
LVMH is highlighting the Rio Negro region and is implementing a biodiversity monitoring scheme that focuses on flagship wildlife species in the area.
Goal for cleaner cosmetics
Stella, a beauty brand by Stella McCartney, a subsidiary of LVMH, is presenting its Sustainable Market, a pavilion in which Stella McCartney and LVMH exhibit raw materials from regenerative agriculture, biotechnologies and the circular economy.
Additionally, the group has supported operating schools and educational materials focused on environmentally sustainable biodiversity management. It has also developed educational content on biodiversity conservation for young students and community leaders.
LVMH has invested in production infrastructure in existing local supply chains (community tourism, traditional handicrafts, recreational fishing, wood management) and distribution channels for local supply chains.
The company says it is committed to a strategy based on the science of decarbonizing its value chain. Approved by the Science Based Target Initiative, LVMH’s ambition is to reduce its scope 3 GHG emissions per unit of added value by 55% by 2030 and 50% of those related to energy consumption by 2026 (based on 2019).
Last year, during COP15, LVMH strengthened its partnership with UNESCO to improve the resilience of ecosystems and to measure and evaluate how programs dedicated to biodiversity conservation benefit local communities, particularly in the Amazon basin.
COP28 is taking place in Dubai, UAE, from November 30 to December 12.
Edited by Sabine Waldeck
