LVMH’s Newest Carbon Cred, Burton’s Latest Resale Play and More: Short Takes
LVMH’s Carbon Cred: Global disclosure nonprofit CDP has awarded LVMH Moët Hennessy Louis Vuitton its “triple A” rating on this year’s rankings, released during COP15, a first for the company.
Formerly the Carbon Disclosure Project, CDP’s annual list assesses corporate transparency and performance in the three key areas of climate change, forests and water security, based on self-reported data. CDP then independently assesses the supplied information to assess corporate progress, awareness of environmental risks, best practices, environmental leadership and the establishment of meaningful targets.
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CDP is recognized as the world’s biggest repository of environmental data providing insights to more than 680 financial institutions and investors. LVMH joins L’Oreal and Symrise which have previously received the “triple A.”
“LVMH is pleased to see its longstanding commitment to sustainability recognized by CDP with a ‘triple A’ score in 2022. LVMH would like to share this recognition with its suppliers and scientific partners. Measuring and communicating environmental impact across the LVMH value chain on climate, water and biodiversity — including forests — have proved to be powerful tools for fostering actions,” said LVMH head of communication, image and environment Antoine Arnault.
The news comes on the heels of LVMH’s collaboration with Reforest’Action to restore forest cover in the Amazon, revealed during COP15. The program will support the development of a regenerative economy within indigenous communities in Ecuador and Peru, restore ecosystems and promote food security.
It previously announced a similar program in Chad, during last month’s COP27.
Resale Moves: Want to try snowboarding? Burton is giving consumers the opportunity to try before they buy.
Just in time for snow season, the Burlington, Vermont-based company has launched an online rental program that will give riders the option to rent a kit — a snowboard, boots, bindings and outerwear — that can be shipped anywhere in the continental U.S.
Burton is working with Arrive, a technology company that operates rental programs with Eddie Bauer and Dick’s Sporting Goods, on the program.
“Renting instead of owning helps decouple profit from manufacturing new products, which is another step toward reducing our collective impact on the planet,” said Elysa Walk, chief business officer for the snowboard firm. “Burton is actively pursuing an integrated program to resell retired rental gear, pushing the brand toward extended product lifespans and circular business models. Not only are we pleased to offer the convenience of this luggage-free travel option to our customers, we’re also excited about how the Burton online rental program supports our sustainability efforts.”
The way it works is that customers go online to Burton’s Gear Finder to select the boot, binding and board size. For the uninitiated, there are videos to educate and give advice and a customer service team is also available to answer questions.
Once the kit is selected, it is shipped to homes or hotels around the country. And when it is ready to be returned, customers can put the gear back in its original box and drop it off at any UPS location for free.
On average, a board and boot rent for around $70 a day and jackets and pants are about $20 a day. The selection currently includes just adult-size equipment and will be expanded in the future.
Meanwhile, woman-founded resale start-up Beni scored seed funding round Tuesday, for $4 million.
The company makes secondhand shopping easier, acting as an internet search plugin that finds resale alternatives while browsing. It partners with marketplaces such as The RealReal, Rent the Runway, Vestiaire Collective, eBay, Kidizen and more.
