LVMH : 2023 Social and Environmental Responsibility Report

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Committed to positive impact

Committed to positive impact

LV M H 2 0 2 3 • S o c i a l a n d E n v i r o n m e n t a l R e s p o n s i b i l i t y R e p o r t

The year in brief

At LVMH, we know that unfailing commitment and action from all of our people are vital in addressing the growing challenges in our society. In 2023, we continued our efforts to take responsibility in these areas, with the active involvement of our staff members and partners. Our aim is clear: to begin and accelerate the initiatives required to achieve our social targets by 2025 and our environmental targets by 2026 and 2030.

2023 was a year of progress on all four key aspects of the LVMH Group's social action program. In terms of social responsibility, we pursued with determination the commitments set out in our Health and Safety Policy, and this clearly paid off with an 8% year-on-year reduction in our accident frequency rate. We also paid particular attention to our employees' mental health and held an awareness-­ raising day dedicated to this topic. The LVMH Métiers d'Excellence continued to grow, with more than 8,000 people joining them in 2023. Our LVMH Métiers d'Excellence also expanded in Italy, where our You and ME tour showcased them in events aimed at young people and career-changers. In the diversity and inclusion space, we worked hard on implementing our policy. In particular, female representation in our senior management continued to increase: 46% of key roles are now occupied by women. Major events such as Voices of Inclusion also highlighted our Maisons' most successful and inspiring initiatives in this area. More than 65,000 LVMH staff members continued to help the most vulnerable members of our society by participating in initiatives in the fields of public health and education. As part of our ongoing collaboration with LIVE - an institute that helps people back into work after long-term unemployment - we helped it open its fourth campus in Marseille last year.

In environmental terms, we achieved the 2023 targets of our LIFE 360 program. Our efforts in this area included new circular services within our Maisons and the creation of LVMH Circularity, an ecosystem that brings together all of the Group's expertise in reusing materials. We also set

up LVMH Gaïa, an innovation and research program focusing on new materials, and we inaugurated LIFE Academy, our training resource centered on the environment. At the same time, we stepped up our regenerative agriculture program and contributed to the preservation of more than 3 million hectares of fauna and flora habitats. As regards the climate, we have reduced CO2 emissions from energy consumption by 28% relative to a 2019 baseline, and our energy mix is now 63% renewable. The certification rates for our main supply chains have increased significantly over the past two years, giving us reasonable assurance that we will hit our full traceability target by 2026. LVMH is raising the bar further, particularly in terms of water stewardship: all Maisons have adopted plans to achieve a 30% reduction in water take by 2030.

We are aware of our responsibilities across the whole value chain, and in 2023 we continued to roll out our Convergence program to manage CSR risks in our supply chains. We also launched LIFE 360 Business Partners: this program allows us to go further with our environmental efforts, working more closely with our suppliers to reduce their impact. As regards ethics, we strengthened our fundamentals in 2023 by updating the LVMH Code of Conduct.

Through our philanthropy activities, we aim to enable as many people as possible to enjoy their cultural heritage, as well as supporting creative talent. The international success of the LVMH Prize for Young Fashion Designers and the large number of people visiting the Fondation Louis Vuitton are prime examples of how we encourage creativity and make the results of that creativity accessible to the general public.

LVMH will play a major role in the Paris 2024 Olympic and Paralympic Games as creative partner, sharing the excellence and craftsmanship of its artisans for key celebratory moments that will be seen around the world, as well as helping to make the Games a socially and environmentally responsible event.

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Commitments in action

Chairman's Message

LVMH's Business groups and key figures

38 Our	78 Our	120 Our
social	environmental	commitment
commitment	commitment	to the arts
		and culture

134 Our ESG Performance

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LV M H 2 0 2 3 • S o c i a l a n d E n v i r o n m e n t a l R e s p o n s i b i l i t y R e p o r t

Commitments and action

Living up to its sense of commitment, LVMH implements wide-ranging social, environmental and cultural initiatives every year in a bid to make a lasting difference.

The Group works with a large number of stakeholders that address major social causes.

We are shining a spotlight on six initiatives that stood out in 2023 on account of their scale and their positive impact on society, the environment and culture.

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O U R S O C I A L C O M M I TM E N T

The LVMH Heart Fund, a crucial source of support for all Group employees

The global fund provides emergency financial aid and social and psychological support

to Group employees facing serious difficulties in their personal lives. With this anonymous and confidential support that costs them nothing, LVMH demonstrates its commitment to stand alongside its employees, a critical aspect of its responsibility as an employer. The LVMH Heart Fund celebrated its second anniversary in 2023.