LVMH Publishes 2022 Social and Environmental Responsibility Report
LVMH has released its 2022 Social and Environmental Responsibility Report, detailing the group's strategies and initiatives in social, environmental, and cultural commitments.
Luxury goods conglomerate LVMH has published its 2022 Social and Environmental Responsibility Report. In its third annual publication, the group outlines its strategies and numerous initiatives across social, environmental, and cultural responsibility.
The report highlights that alongside a strong business recovery and record financial results in 2022, LVMH continues to prioritize its commitments to society, the environment, and culture. Chairman and CEO Bernard Arnault stated that success is only valuable if it is "virtuous" and sustainable. LVMH employs nearly 200,000 people across 80 countries, with its workforce reaching record levels in 2022.
To advance diversity and inclusion, LVMH rolled out a global roadmap in 2022. Objectives include achieving 50% women in key positions, ensuring equal pay, and increasing the proportion of employees with disabilities to 2% of the global workforce. In 2022, the group welcomed 39,000 early career professionals.
Environmental responsibility efforts are driven by the LIFE 360 program. The plan aims to reduce energy consumption by 10% and greenhouse gas emissions by 11% by October 2023. The group also targets a 15% reduction in Scope 3 emissions. LVMH is also collaborating with UNESCO on projects to protect biodiversity and mitigate climate change impacts.
In support of culture, the Fondation Louis Vuitton hosted three major exhibitions that attracted millions of visitors, reinforcing LVMH's mission to promote culture and make it widely accessible.