Antoine Arnault on LVMH's contribution to COP28: opinion and action plan

In Paris at COP28, LVMH Moët Hennessy Louis Vuitton signed two new agreements at the annual climate conference convened by the United Nations. One is a partnership with shopping center developers in the Middle East to set clear targets for reducing environmental impact. The second agreement involves support for biodiversity projects in Brazil.

Collaboration with shopping centers in the Middle East

Since 2020, this luxury concern has been striving to become a more influential voice at the annual convention and is incorporating COP into its program. LVMH's head of image and environment, Antoine Arnault, joined diplomats and leaders at the conference venue in Dubai,''to enter into strategic agreements.

The first agreement builds on the company's existing approach to working with shopping centers on environmental goals. This time it includes four prominent real estate developers in the Middle East, including Chalhoub Group, Emaar Malls, Majid Al Futtaim and Aldar Properties. New targets for water use reduction, energy efficiency, waste management, air conditioning, clean energy, and eco-design and construction are linked to the collaboration of local retail players.

This is the first partnership of its kind for LVMH in the region, but not the first of its kind overall. The company previously entered into a similar agreement with Chinese shopping center manufacturer Hang Lung Properties,''covering 100 of the group's stores.

Support for biodiversity projects in Brazil

In addition to its collaboration in the Middle East, LVMH has invested €1 million in a partnership with the Brazilian NGO Amazon Sustainability Foundation to fight deforestation. This follows the group's long-term relationship with UNESCO's Man and the Biosphere project, with the overall goal of protecting 5 million hectares of wildlife habitat.

The partnership will include research and monitoring of wildlife in the Río Negro region, training on biodiversity protection in local''schools and invested in the development of existing local supply chains.

Ambitious goals and participation in COP

In light of the latest global climate challenges, LVMH is actively participating in COP and aims to achieve a number of ambitious targets. The company has already achieved the goal of reducing energy consumption by 10 percent within the group over the last year and aims to achieve full traceability by 2026. In addition, LVMH plans to reduce CO2 emissions by 50 percent in Tiers 1 and 2 by 2026 and 55 percent in Tier 3 by 2030.

Arnaud emphasized that LVMH Group's philosophy is based on partnerships between different sectors and the importance of action on climate and biodiversity.

Participation in COP and promotion''forward

LVMH's participation at COP has become a tradition and the group continues to actively participate and collaborate with all conference participants. Last year, the group invited designer Stella McCartney to COP and supported her "glass market" pavilion, where new ideas in advanced materials were presented. The group also entered into a biodiversity partnership with the Circular Bioeconomy Alliance.

Despite the controversy at COP28, Arnaud emphasized the importance of staying involved in such events and joining forces with partners to find solutions to climate challenges.

The group's report will be presented on December 14 at a conference in Paris.