LVMH, a conglomerate that specializes in luxury goods, has published its third annual report on Social and Environmental Responsibility. The report showcases the company’s advancements in social responsibility endeavors and eco-friendly sustainability measures for the year 2022. Emphasizing the organization’s dedication to society, culture, and the environment, which it considers vital for its ongoing prosperity. With nearly 200,000 employees across 80 countries, LVMH sees its people as central to the group’s performance and commitment.
Commitment to Diversity & Inclusion
The group has launched a global Diversity & Inclusion roadmap, which aims to achieve gender balance and equal pay. Increasing the proportion of people with disabilities to 2% of the global workforce. With a company-wide goal of attracting new employees, including 39,000 early career professionals in 2022, to pass on the unique savoir-faire that underpins the success of its Maisons. The LVMH Métiers d’Excellence jobs and recruiting fair drew thousands of future talents, sparking interest among young generations in careers in craft, creative, and customer experience professions.
2022 Social Performance Metrics:
- Respecting every individual’s uniqueness and dignity, and promoting diversity
- 73% of recruiters trained in non-discrimination practices between 2020 and 2022
- 45% of the Group’s key positions are held by women
- 1.4% of the workforce is made up of employees with disabilities
- Supporting employees by taking action for their safety and well-being
- 87% of the Maisons’ Management Committees conduct an annual review of health and safety results
- 33% of employees have completed accident prevention and first aid training
- Passing on skills and expertise that are an integral part of the company’s cultural heritage
- 8,000 new hires in the Group’s métiers d’excellence (professions of excellence)
- 2,000+ apprentices trained by the Institut des Métiers d’Excellence (IME) in 7 countries since its launch in 2014
- Working to build a better society
- 1 million+ people helped during the year
- 900+ partnerships with nonprofits and charitable foundations
LVMH has also made significant efforts to advance its environmental responsibility commitments. Introducing an energy reduction plan to cut its energy consumption by 10% between October 2022 and October 2023, reduce greenhouse gas emissions from energy consumption by 11%, and cut scope 3 emissions by 15%.
The company’s LIFE 360 program aims to create sustainable products that positively impact biodiversity and combat climate change through a combination of dialogue with Maisons, employees, and students, as well as precise impact measurements. Launched in 2021, and has specific targets set for 2023, 2026, and 2030, with each Maison developing their own action plans to contribute towards achieving these goals.
The LIFE 360 program
- Biodiversity (Certification of strategic supply chains)
- Cotton: 71%
- Leather: 91%
- LVMH vineyards: 94%
- 3,385,343 acres preserved or restored
- Circular Design
- 39% recycled raw materials in glass and plastic packaging
- 7,942 metric tons of fossil-based virgin plastic in customer packaging (8% reduction since 2019)
- 9,500 products covered by a traceability system for informing customers
- Country of origin to be known for:
- Leather purchases: 86%
- Wool purchases: 64%
- SBTi-validated carbon trajectory
- 11% reduction in energy-related GHG emissions (baseline: 2019)
- 47% renewable energy in the Group’s energy mix
- 77% of stores equipped with LED lighting
- SBTi-validated carbon trajectory
The group also implemented innovative research initiatives, such as agroforestry programs, projects to develop keratin-based fibers, recycling, and upcycling, to drive continuous progress towards greater sustainability. Receiving a “triple-A” rating from the CDP for its leadership in protecting the climate, forests, and water. Making it one of only 12 companies in the world to achieve this distinction out of over 15,000 rated companies.