Home / Knowledge / News / Apparel/Garments / LVMH Carbon Fund finances 112 sustainability projects

LVMH Carbon Fund finances 112 sustainability projects

01
Dec '18
LVMH Carbon Fund finances 112 sustainability projects
The LVMH Carbon Fund has achieved its objective for 2018, raising €11.3 million in financing for 112 projects designed to control and reduce the group’s greenhouse gas emissions. This result, reflecting the strong engagement of LVMH brands, is all the more noteworthy given that LVMH doubled the price per metric ton of CO2 generated from €15-30 in 2018.

As many as 28 brands are actively engaged in this programme namely Acqua di Parma, Belvedere, Benefit, Berluti, Bulgari, Celine, Chandon India, Christian Dior Couture, DFS, Fendi, Fred, Fresh, Givenchy, Glenmorangie, Guerlain, Hennessy, Hublot, Le Bon Marché, Loewe, Loro Piana, Louis Vuitton, LVMH Fragrance Brand, MHCS, Parfums Christian Dior, Royal Van Lent, Sephora, TAG Heuer, Zenith.

LVMH salutes the active engagement of its Maisons and their teams in the fight against climate change. The 112 projects deployed in 2018 – up from 64 in 2017 – have eliminated nearly 2,500 CO2 equivalent metric tons of emissions annually (over the lifecycle of equipment installed this year). This is equivalent to the annual emissions of 1,600 European households.

Created in 2016, the LVMH Carbon Fund is a pillar in the group’s LVMH Initiatives For the Environment (LIFE) 2020 environmental policy, which has announced a 25 per cent reduction in CO2 emissions by 2020 as one of its main objectives. This aligns the group with the 2°C trajectory defined by the COP21 climate conference in Paris to fight climate change. The annual contribution of each LVMH brand is calculated by multiplying the greenhouse gas emissions from its activities by the carbon price set by the group. The amount must then be invested the following year in eligible projects designed to reduce these emissions.

"The success of our Carbon Fund once again underlines the major and decisive commitment of LVMH management and all our teams to help protect the environment and fight climate change.  The LIFE environmental program is a top priority for all our employees. We thank them for their engagement and we continue to count on them to help us achieve all our environmental targets for 2020," said Antonio Belloni, LVMH Group managing director. (RR)

Fibre2Fashion News Desk – China


Must ReadView All

Pic: NIST

Textiles | On 3rd Jul 2020

Multiple fabric layers improve cotton's efficacy in masks

The US National Institute of Standards and Technology and a...

Pic: Shutterstock

Fashion | On 3rd Jul 2020

Esprit to cut 1200 jobs, close 50 stores in Germany

International fashion house Esprit recently announced it will lay off ...

Pic: Shutterstock

Textiles | On 3rd Jul 2020

CSIRO team modifies cotton to make it naturally coloured

A team of researchers at Australia's Commonwealth Scientific and...

Interviews View All

Dharmendra Shah, Ozone PB Spintex Limited

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Textile Industry, Head honchos

Textile Industry
Head honchos

Estimate loss of $8-$10 billion in turnover

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Ronald Van Den Broek,

Ronald Van Den Broek

Headquartered in Japan, Mimaki Engineering Co. Ltd. manufactures and...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search