Moët Hennessy, the Wines, and Spirits division of luxury goods company LVMH, announced today a new climate goal, aiming to reduce its greenhouse gas (GHG) emissions by 50% in absolute value by 2030, including operational and value chain emissions (Scopes 1,2 and 3).
According to the company, the core objective of its new ambitions consists in adopting the 1.5 C target under the Paris Climate Agreement. In addition, Moët Hennessy stated that its target has been approved by the Science Based Targets initiative (SBTi).
SBTi, a collaboration between CDP, World Resources Institute (WRI), the World-Wide Fund for Nature (WWF), and the United Nations Global Compact (UNGC), is one of the key organizations focused on aligning corporate environmental sustainability action with the global goals of limiting climate change. Achieving approval of targets by SBTi is a significant milestone for companies’ sustainability efforts, with many companies joining the initiative.
Earlier this year, SBTi tightened its criteria for approved climate targets, announcing that it will soon only accept targets aligned with its 1.5°C warming ambition, as required to avoid the worst impacts of climate change.
Philippe Schaus, President of Moët Hennessy, said:
“We believe we have an important responsibility alongside the wines and spirits industry to significantly reduce our carbon footprint throughout the value chain while developing biodiversity in our regions. We have set ambitious goals that we are committed to following regularly and integrating into Moët Hennessy’s overall strategy.”
To achieve its carbon reduction target, Moët Hennessy outlined four measures the company will focus on, including reducing carbon impact from raw materials, designing eco-conscious packaging, leveraging renewable energy, and fostering low-carbon transportation. The company also stated it will continue to work with suppliers and customers to reach its target.
Sandrine Sommer, Moët Hennessy’s Director of Sustainable Development, said:
“While we are aware that this is a very ambitious goal, that’s what we must set for ourselves to meet one of the greatest challenges facing our planet today. We will need the help of our teams and partners to implement bold initiatives, and also count on disruptive innovations to achieve our climate goal.”