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ter covers the full range of issues concerning the sourcing of fur, leather, exotic leather, wool and feathers. It allows the Group to make long-term commitments to achieving progress in three areas: full traceability in supply chains; animal farming and trapping conditions; and respect for local populations, the environment and biodiversity. Under the charter, a scientific committee has been formed, and each year it will support and supervise a number of research projects aimed at driving progress in this area.

Lower energy consumption

For many years LVMH has been involved in the fight against climate change, and also takes action to reduce its energy-related greenhouse gas emissions. In 2019, the Group moved closer to reaching its target of cutting emissions by 25% between 2013 and 2020. Since the end of 2015, LVMH has rallied its Maisons around a highly motivating and effective internal carbon fund. Each met- ric ton of CO2 emitted is valued at 30 euros, so the Mai- sons are required to invest in increasing energy efficiency, improving monitoring and reporting, and expanding the use of green energy. They very quickly embraced this tool, which helps them speed up their transition to more sustainable energy. Celebrating its fourth year of exist- ence, the carbon fund continued to grow. A total of 138 projects were launched (23% more than in 2018) by 32 Maisons (7% more than in 2018) and the carbon contribution reached 16.5 million euros. These projects  80% of which concerned energy efficiency should prevent 5,658 metric tons of CO2 emissions. To support the Maisons in this effort and help them share their expe- rience and best practices, in March 2019 LVMH s Environ- ment Department finalized a new Carbon Fund page on the Group intranet. It presents a representative sample of projects launched throughout the world, illustrating the specific progress made through this program.

Bolstering on-site environmental management

In another key thrust of LVMH s environmental policy, the shift toward environmentally friendly stores, warehouses, workshops, manufacturing facilities and offices contin- ued in 2019. LIFE 2020 includes targets that follow up and build on the sustainable construction and manage- ment initiatives that have been in place for many years at the Maisons. These targets include the implementation of an environmental management system at all production sites, improvements at each site to one or more key com- ponents of environmental efficiency (water consumption, energy consumption, waste production), and improved

energy efficiency at points of sale. LVMH supports its Maisons in their efforts, as illustrated by the highly suc- cessful CEDRE disassembly and recycling platform for obsolete products. Initially used by four perfumes and cosmetics Maisons, CEDRE now works for 11 Maisons and also processes fashion and leather goods items. This model will even be exported to Italy in the near future. LVMH also helps its Maisons through programs like LIFE in Stores. Dedicated to improving the energy efficiency of its stores, it encourages Maisons to limit unnecessary lighting and provides them with sustainable solutions that combine LEDs and digital technology.

Partnerships focused on biodiversity and climate

LVMH uses partnerships to strengthen its environmental policy, collaborating with public and private stakeholders of all backgrounds, from scientists and researchers to manufacturers operating outside its own markets. This tradition continued in 2019. As an example, employees offered their input on sustainable fashion as part of an initiative launched by the Paris Good Fashion nonprofit together with all the sector s stakeholders. In keeping with its commitment to including well-respected public figures, the Group welcomed Yann Arthus-Bertrand to its Board of Directors. On May 14, LVMH announced a new five-year partnership with Man and the Biosphere , UNESCO s intergovernmental scientific program on bio- diversity, a topic that its staff has been rallying around for more than a decade. In particular, this agreement should facilitate the implementation of innovative solutions for the sustainable management of natural resources. On September 3, the Comptabilité Écologique (Sustainable Accounting) Chair of Fondation AgroParisTech was offi- cially launched. Funded by LVMH and other partners, its goal is to instate non-financial accounting systems for all societal stakeholders to help drive the transition to a more sustainable economy. Lastly, on September 25, 2019, at LVMH s Future LIFE event held in Paris, Bernard Arnault announced the creation of a program to jointly develop clean technologies with Bertrand Piccard s Solar Impulse Foundation.

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