LVMH pursues policy to reduce energy consumption, signing first partnership with a leading shopping mall owner, Hang Lung Properties, creating a framework for energy efficiency collaboration.
Hang Lung Properties, which owns a hundred malls in China, has notably committed to cutting its energy consumption by 18% by 2025, to turning off shops’ lights outside business hours, and to ensuring the presence of electricity meters. For its part, LVMH’s commitments include sourcing 70% of its materials from within a radius of 500 kilometres, along with measuring and tracking energy consumption at its stores. The two partners’ objective is to reduce their environmental impact while at the same time ensuring the health of customers and employees, with special emphasis on indoor air quality, for example by installing air quality sensors in all stores.
This cooperation with a major landlord will enable LVMH to achieve more quickly its environmental objectives thanks to swift and effective implementation of the standards set by the LIFE 360 roadmap. This includes progress at stores whose premises are owned by third parties outside the Group.
This initial agreement is groundbreaking in scope and consolidates efforts to achieve the LVMH Group’s announced target of a 10% cut in energy consumption worldwide by October 2023.
The partnership was announced in conjunction with the LIFE360 in Stores event on October 25-26, part of LVMH’s LIFE 360 environmental initiative. Alongside this new partnership, the event celebrates best practices in energy performance at the Group’s stores, with seven awards going to the most outstanding achievements.