The fund, which already contains roughly €5m, will be used to fund 'green' projects
LVMH has announced that each of its maisons or houses, including perfumes and cosmetics, will contribute to an internal carbon fund, already estimated to contain more than €5m.
Contributions will be calculated based on the amount of greenhouse gas emissions generated by each maison. The money will be put towards investments in, for example, energy consumption reduction equipment or the production of renewable energy on an international scale. Each maison will contribute €15 per tonne, which is standard current practice.
Bernard Arnault, Chairman and CEO of LVMH, said: "The most beautiful materials used in viticulture and oenology , the creation of perfumes and cosmetics, fashion and leather goods and jewellery which are the heart of our business , are all provided by nature. Environmental performance has been integrated into the growth strategy of all our Maisons in the same way as quality, innovation and creativity. Today respect for the environment is not only an imperative, it is also a lever that drives progress."