COSMETICS giant L’Oréal has launched its latest set of sustainability ambitions for 2030.
In its latest sustainability plan, the company states that they are accelerating their transformation towards a business model that ‘respects planetary boundaries and reinforces its commitments to both sustainability and inclusion.’
Alexandra Palt, L’Oréal Chief Corporate Responsibility Officer, commented on the announcement: “Over the past decade, we have profoundly transformed our company, putting sustainability at the very core of our business model.
“With our new commitments, we are entering a new phase of acceleration of that transformation: going beyond our direct environmental impact, helping consumers to make more sustainable choices, as well as generating positive social and environmental contribution.
“As an industry leader, we consider that it is our role to contribute to building an inclusive and sustainable society.”
The planned goals include:
- By 2025, all of L’Oréal’s sites will have achieved carbon neutrality by improving energy
efficiency and using 100% renewable energy - By 2030, 100% of the plastics used in L’Oréal’s products’ packaging will be either from
recycled or bio-based sources; - By 2030, L’Oréal will reduce by 50% per finished product, compared to 2016, its entire
greenhouse gas emissions.
Contributing to ‘solving the world’s challenges by supporting urgent social and
environmental needs, through an unprecedented plan launched in May 2020′:
- L’Oréal is allocating €150 million to address urgent social and environmental issues.
- a Product Environmental & Social Impact Labelling mechanism, scaling from A to E, which will be progressively deployed for all brands and categories.
- €100 million into impact investing, in order to act upon key environmental challenges.
- €50 million will be used to finance damaged natural marine and forest ecosystems
restoration projects through the L’Oréal Fund for Nature Regeneration, to be
operated by Mirova, an affiliate of Natixis Investment Managers, dedicated to impact
investing. - Another €50 million will be directed to financing projects linked to the circular
economy. - To help vulnerable women, L’Oréal is also creating a €50 million charitable endowment fund. It will support field organisations and local charities in their efforts to fight poverty, help women achieve social and professional integration, provide emergency assistance to refugee and disabled women, prevent violence against women, and support victims.
The Group has also defined new quantifiable targets for 2030, to fight climate change as supported by the “Science Based Targets” initiative and addresses three other major environmental issues: preservation of biodiversity, sustainable water management and circular use of resources.
By 2025, all of the Group’s manufacturing, administrative and research sites will reach carbon neutrality by improving energy efficiency and using 100% renewable energy.
Through this commitment, L’Oréal wishes to contribute to the energy transition in countries where it operates.
To help its 1.5 billion consumers make more sustainable choices, L’Oréal has developed a Product Environmental & Social Impact Labelling mechanism.
The labelling will include a score on a scale from A to E, with an “A” product considered as “best in class” in terms of environmental impacts.
The method was endorsed by independent scientific experts and data have been verified by Bureau Veritas Certification, an independent auditor.
The first brand to implement the new methodology as of 2020 is Garnier for its hair care
products.
This labelling will progressively be extended to other countries, L’Oréal’s brands and product categories.
Learn more about the company’s sustainability commitments here
