Life (Lvmh Initiatives For the Environment) 360 launched in 2021 with a deadline of 2023. The plan focused on four pillars: the circular economy, biodiversity protection, CO2 emissions reduction, and traceability & transparency.

Lvmh has achieved its 2023 target of offering new circular services by establishing a repair-and-care task force in several of the Group’s Maisons. For example, Louis Vuitton repairs 600,000 products per year, while 79% of Berluti’s leather products are repairable. With the creation of Lvmh Circularity, an ecosystem that brings together the reuse and recycling expertise of the Group and its partners (Nona Source, the Cedre platform, weturn, and Agence Don en Nature), Lvmh is demonstrating its commitment to giving a second life to fabric and leather offcuts, unused raw materials and unsold products.

Meanwhile, after having helped regenerate 1.37 million hectares by the end of 2022, Lvmh is continuing its efforts to reach its target of regenerating five million hectares by the end of 2030. Additionally, thanks to a reduction of 11% in its GHG (greenhouse gas) emissions scopes 1 and 2 (direct emissions) in absolute terms and 15% in its scope 3 (indirect emissions) per unit of added value between 2019 and 2022, Lvmh has decoupled its growth from that of its Co2 emissions over the same period.

Lvmh has also a target of knowing the countries of origin of its strategic raw materials by 2023, which is on track to being achieved with the country of origin for diamonds, wool, and leather known for 95-100% of products. “Complete traceability” is the target for 2026.

Lvmh has reasonable confidence in meeting the 2026 and 2030 targets outlined in its Life 360 plan, with the likely exception of its 2026 target of zero virgin fossil-based plastics, which has prompted a reinforcement of the action plan starting this year.

The group has also launched Life 360 Business Partners, a dedicated initiative for its suppliers and partners. The new plan will become the Group’s new guiding compass for supporting its suppliers, particularly in the areas of raw materials and transport, and helping them to reduce not only their scope 3 emissions, which account for 95% of the Group’s carbon footprint, but also their impact on water and biodiversity. Starting in 2024, Lvmh will organize Sustainability Business Partners Days, a forum where it can listen to suppliers’ needs and expectations regarding environmental ambitions.

“Scope 3 emissions account for more than 90% of our environmental footprint and arise mainly from the impact of raw materials and transport," explained Hélène Valade, environment development director, Lvmh. "This encompasses emissions from the upstream and downstream of our value chain, not assets that we own or control. This is why these emissions are the most challenging to reduce. To achieve our ambitious scope 3 targets, both in terms of carbon emissions and impact on water and biodiversity, the mobilization of suppliers is essential. Lvmh is committed to supporting them with the Life 360 Business Partners program."

For more information on the Life 360 Summit, visit the Lvmh website.