LVMH selected $6.6 million in carbon fund projects in 2016
Written By: Stratton Report
November 3, 2016
On November 3, LVMH announced that its internal carbon fund has selected projects totaling over six million euros ($6.6 million).
According to LVMH, the carbon fund aims to reduce the greenhouse gas emissions of the group and its brands by 25% by 2020. Seventy percent of the projects relate to the chain’s retail stores.
LVMH emphasized that it is greening its approach to eco-design, biodiversity, traceability, supply chain management, greenhouse gas emissions, selection of production sites, the sustainability of its products and customer care.
Per the firm, the carbon projects are funded on the basis of 15 Euros ($16.70) per tonne of CO2 emitted.
The LVMH Carbon fund initiative will be repeated in 2017.