As France faces an unprecedented drought, LVMH Is adding a new component to its “Life 360” global environmental targets to tackle water use. The group has vowed to reduce its water consumption footprint by 30 percent by 2030 across its global activities.
While water use has been included in its strategy, the current situation has caused the company to take a fresh look. “Given the urgency of the water situation in France, but also in many regions of the world, LVMH is increasing its ambition,” the company said in a statement., to reduce its energy use by 10 percent.
Macron laid out a strategy for industrial sectors to reduce their water use, including a goal of recycling and reusing 10 percent of water by 2030. The company will employ pressure indicators and geolocation data to deploy specific action plans in the areas suffering from water stress, use new technologies to reuse treated wastewater and recovering rainwater on the group’s production sites, and will continue to expand the group’s regenerative agriculture program launched in 2021, which improves soil quality and water retention, as some of the methods to reach the target.
Cognac brand Hennessy reduced the water consumption at its distilleries by 26 percent between 2019 and 2020 by altering its manufacturing processes.While water is most evidently critical to its cognac and Champagne labels, the company is also framing it as a business decision to future-proof many of its core segments, including accessories and beauty.
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