LVMH Implements Internal Carbon Fund

Luxury goods giant LVMH Moët Hennessy Louis Vuitton on Monday announced the creation of an internal carbon fund valued at five million euros, or roughly $5.4 million, that’s financed by each of its 70 houses.

The French conglomerate said that its brands will each contribute 15 euro ($16.13) for every ton of carbon dioxide that they emit. Starting in 2016, according to the LVMH website, the funds will be used toward “financing projects whose sole objective is to reduce our greenhouse gas emissions,” like LED and cooling equipment or renewable energy production.

Read more at Sourcing Journal.

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