LVMH Group recently released its 2023 Social and Environmental Responsibility Report, highlighting the company's progress in sustainability from three perspectives: social responsibility, environmental initiatives, and cultural contributions.
Social Responsibility
- Women in Leadership: Women hold 46% of LVMH's core positions, and they make up 65% of executive and management roles.
- Anti-Discrimination Training: From 2021 to 2023, 82% of recruitment personnel underwent anti-discrimination training.
- Commitment to Diversity: LVMH reaffirmed its commitment to inclusivity by organizing the "Voices of Inclusion" event.
- Employee Support Fund: The LVMH Heart Fund provides financial aid, social, and psychological support to employees facing unexpected crises. In 2023, the fund received more than 3,200 employee applications.
- Artisan Excellence Program: Over 8,000 people joined the LVMH Métiers d'Excellence program, aimed at promoting, protecting, and passing on expertise in creativity, craftsmanship, and customer experience across 280 disciplines.
Environmental Initiatives
- Circular Economy: Since 2019, LVMH successfully implemented 97% of new circular services (repair and upcycling). Recyclable materials were used in 43% of product packaging, and 61% of new products were sustainably designed.
- Biodiversity Conservation: The group has protected or restored 3.1 million hectares of wildlife habitats.
- Climate Change Action: Compared to 2019, LVMH reduced Scope 3 greenhouse gas emissions by 29.9%. The group now uses 63% renewable energy. In 2023, LVMH launched the LIFE360 Business Partnership Plan to support suppliers and partners in reducing carbon emissions, conserving water, and protecting biodiversity.
- Traceability: LVMH plans to achieve full supply chain traceability by 2030, ensuring complete traceability for products, components, and raw materials. Currently, 96% of the leather, 99.9% of rare leather, and 88% of wool procured by the group are traceable to their origins.
Cultural Contributions
- Art Promotion: Since opening to the public in 2014, the Fondation Louis Vuitton has focused on fostering dialogue between artists and the public, particularly young people, welcoming around 11 million visitors.
- Supporting Young Designers: The LVMH Prize for Young Fashion Designers celebrated its tenth year, attracting over 2,400 young designers to participate in 2023.
This report highlights LVMH's commitment to sustainable development and its efforts in advancing social, environmental, and cultural initiatives, reinforcing its role as a leader in responsible luxury.