LVMH: twice as many projects financed by its carbon fund in 2018
LVMH announces that in 2018 they have financed 112 projects for the control and reduction of CO2 emissions thanks to their internal carbon fund, compared to 64 projects in 2017. These projects have made it possible to avoid the emission of around 2,500 tons of CO2 equivalent per year (over the life of the equipment installed this year); equivalent to the annual emissions of 1,600 European households.
The carbon fund was launched in 2016. It is funded by contributions from houses that pay an amount based on greenhouse gas emissions from their activities. The money raised is then allocated to projects aimed at reducing the group's carbon footprint, for example investments in renewable energies.
This initiative is part of the Group's environmental policy through its LIFE 2020 program (LVMH Initiatives For the Environment), one of their goals is to reduce their CO2 emissions by 25% by 2020.