LIFE (LVMH Initiatives For the Environment) 360 launched in 2021 with a deadline of 2023 for a series of environmental actions and further deadlines of 2026 and 2030 for others.

The 2023 achievements include establishing a repair-and-care task force at several of its brands. For example, Louis Vuitton repairs 600,000 products per year, while 79% of Berluti’s leather products are repairable. The company has also created LVMH Circularity, to bring together reuse and recycling efforts across the group and its partners.

Meanwhile, after having helped regenerate 1.37 million hectares by the end of 2022, LVMH has a target of regenerating five million hectares by the end of 2030. Additionally, the group reduced Scope 1 and 2 greenhouse gas (GHG) emissions by 11% in absolute terms per unit of added value between 2019 and 2022, plus a 15% drop for Scope 3 emissions.

Additionally, LVMH has a target of pinpointing the countries of origin of its strategic raw materials by 2023, which is ongoing but reportedly on track to being achieved. The company now knows more than 95% of the countries of origin for its diamonds, wool and leather. “Complete traceability” is the target for 2026.

LVMH is now confident in reaching its 2026 and 2030 LIFE 360 targets, with the possible exception of its 2026 target of zero virgin fossil-based plastics.

The group has also launched LIFE 360 Business Partners, an initiative to support emissions reductions and other impacts across its suppliers. Several brands under the LVMH umbrella have initiated transition plans for their suppliers and, from 2024, the group will organise Sustainability Business Partners Days to work with suppliers on these targets.

Hélène Valade, Environment Development Director at LVMH, said: “Scope 3 emissions account for more than 90% of our environmental footprint and arise mainly from the impact of raw materials and transport. 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.