CDP awards LVMH triple A rating for environmental leadership
CDP, the global environmental disclosure system, has awarded a triple “A” rating to LVMH for its leadership in terms of climate, forest and water protection.
The award makes LVMH just one of 12 companies to have achieved triple “A” status, out of more than 15,000 rated by the non-profit CDP, or Carbon Disclosure Project.
Founded in 2000, CDP boasts that over 18,700 companies and 1,100 cities and regions now annually report and disclose environmental information on climate change, water security and forests via the organization.
“LVMH is pleased to see its longstanding commitment to sustainability acknowledged by CDP with a triple “A” score in 2022… Measuring and communicating environmental impact across the LVMH value chain on climate, water and biodiversity – including forests – have proved to be powerful tools for fostering actions. Given our deep dependency on biodiversity, LVMH is particularly committed to scaling up regenerative practices within its supply chain that bridge the preservation of biodiversity and the fight against climate change,” said Antoine Arnault, LVMH image and environment director and scion of LVMH’s controlling family, in a release.
CDP, whose motto is "Disclosure Insight Action", utilizes an annual disclosure scoring process, where companies reveal and compare their performances in terms of environmental impact, risks and opportunities.
“CDP saw nearly 20,000 companies disclose environmental data this year, including 70% of European companies by market value. COP27 showed the need for transformational change is more critical than ever if we are to limit warming to 1.5 °C. I’m therefore delighted that European companies make up nearly half of all “A List” companies around the world, including 15 with two “A” scores and eight with triple “A” scores for climate change, forests, and water security leadership,” commented Maxfield Weiss, CDP Europe executive director.
“We must cut emissions by half and eliminate deforestation by 2030, alongside achieving water security on the same timescale – there is no route to 1.5°C without nature. With the EU’s ground-breaking new reporting regulation, the CSRD (Corporate Sustainability Reporting Directive), now agreed, CDP “A List” companies are showing they are ahead of the game – taking clear action to reduce emissions and to address environmental impacts throughout their value chains. This is the type of environmental transparency and action we need economy-wise to prevent ecological collapse,” added Weiss.
Based in Paris, LVMH is the largest luxury conglomerate in the world, boasting drinks brands within its stable as diverse portfolio, such as Moët & Chandon, Dom Pérignon, Veuve Clicquot, Krug, Château Cheval Blanc, Hennessy, Glenmorangie and Belvedere. While in its fashion and leather goods it includes Louis Vuitton, Christian Dior, Celine, Loewe, Kenzo, Givenchy, Fendi, Emilio Pucci, Marc Jacobs, Berluti and Loro Piana. Its watches and jewelry division comprises Bulgari, Tiffany & Co., TAG Heuer, Chaumet, Zenith, Fred and Hublot, while in selective distribution it controls DFS, Sephora, Le Bon Marché and La Samaritaine.
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