In 2024, Taxonomy-eligible CapEx amounted to €493 million, representing 22% of eligible CapEx out of a total of €2,223 million. Despite a lower absolute value compared to the €631 million in 2023, the proportion of eligible CapEx remained stable year on year. The lower absolute value is mainly due to fewer building leases (IFRS 16) in the year compared to 2023, following the acquisition of Aēsop and the consolidation of its leases. However, the fall was offset by a significant increase in CapEx relating to the construction of sustainable buildings on owned sites.
CapEx aligned with the climate change mitigation objective amounted to €38 million in 2024, or 2% of total CapEx. In 2023, this figure was €139 million (5% of total CapEx). The decrease in aligned CapEx in 2024 is solely due to a reduction in aligned IFRS 16 leases following a high number of renewals of leases for buildings that do not fully meet the Taxonomy's sustainability criteria.
OpEx KPI:
PROPORTION OF OPEX FROM TAXONOMY-ELIGIBLE OR TAXONOMY-ALIGNED ECONOMIC ACTIVITIES BY ENVIRONMENTAL OBJECTIVE – INFORMATION FOR 2024
| Proportion of OpEx/Total OpEx | ||
|---|---|---|
| Taxonomy-aligned by objective | Taxonomy-eligible by objective | |
| Climate change mitigation | 0% | 0% |
| Climate change adaptation | 0% | 0% |
| Water | 0% | 0% |
| Circular economy | 0% | 0% |
| Pollution | 0% | 0% |
| Biodiversity | 0% | 0% |
In the absence of eligible turnover, no OpEx could be classified as eligible. The OpEx denominator required by the Taxonomy, consisting mainly of research and development, short-term vehicle leasing, maintenance and property asset management costs, represents less than 5% of the Group's OpEx. L'Oréal therefore applies the exemption provided by the European Taxonomy and reports an OpEx numerator of zero.
