The announcement comes in the wake of the French government's call for water conservation in March 2023, as it prioritises the sustainable management of this essential natural resource.
This initiative is in line with the Life 360 programme, LVMH's global environmental strategy. A critical part of this programme is managing and reducing water consumption, an aspect they've been measuring annually across all their activities. Loro Piana, a notable fashion house under the group, has already made significant strides in this regard, slashing its water consumption by 25 per cent largely through the introduction of wastewater recycling equipment in its main factory, LVMH said in a press release.
LVMH has added a new commitment to its Life 360 environmental strategy, a pledge to reduce the group's overall water consumption footprint by 30 per cent by 2030.
Several measures will be put in place to achieve this ambitious target. These include improving the measurement of water consumption across the group's value chain, employing the latest technologies to reuse treated wastewater and recover rainwater, introducing manufacturing processes that consume less water, and raising customer awareness through environmental labelling of their products.
By the end of 2023, LVMH aims to establish a qualitative target for reducing its water consumption footprint and improving the quality of discharges into natural environments. The group’s partner, Science Based Targets for Nature (SBTN), equivalent to SBTi for the Climate, will validate this target.
ALCHEMPro News Desk (DP)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!