LVMH Pledges $11 Million to Combat Amazon Wildfires

LVMH Pledges $11 Million to Combat Amazon Wildfires

As wildfires continue to devastate the Amazon rainforest, people in positions of power are finally stepping up to take concrete action. LVMH, the french luxury conglomerate that owns fashion brands Louis Vuitton, Dior, and Fendi, has announced that they will pledge over $11 million to combat the fires ravaging this part of the world.

Bernard Arnault, Europe's richest man and CEO of LVMH, revealed that his group's contribution will support President Emmanuel Macron's financial fund of $20 million of aid in a "collective effort" to protect the rainforest, an initiative he announced on Monday during the G7 Summit.

"Protecting the environment is not just about words and speeches or signing declarations of principle, it also requires taking concrete collective actions when dangers arise in order to provide resources for local specialists and work together to save our planet," said LVMH board member Yann Arthus-Bertrand. "I am proud that LVMH is participating in this emergency effort and I hope that many others will follow suit."

According to WWD, Macron announced in the summit that the majority of the funds will be allocated towards a fleet of aircraft that will be dispatched "immediately" sent to stop the spread of wildfires.

Macron also shared the initiative on Twitter, saying that the Amazon absorbs 14% of CO2 and that losing the world's main lung is a "global problem" before adding that "no country can assume sole responsibility."

The news comes as more and more celebrities and business leaders commit funds towards saving the Amazon. Leonardo DiCaprio recently revealed that he would donate $5 million in aid through his environmental group Earth Alliance.

Arnault also made headlines earlier this year when he announced that his company would donate over $200 million to restore and rebuild the Notre Dame Cathedral in Paris, which was partially destroyed by a fire back in April.

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