L’Oréal recognized as a world environmental leader with triple ‘A’ CDP rating
For the fifth year in a row, L’Oréal recognized as a world environmental leader with triple ‘A’ CDP rating, for its actions to tackle climate change, protect forests and ensure water security
Clichy, 8th December 2020 – For the 5th year in a row, L’Oréal has been highlighted as a world leader in corporate sustainability by CDP. This global non-profit organization encourages businesses to disclose their environmental data and assesses their performance and efforts to pursue transparency.
L’Oréal is the only company to have achieved for five years running an ‘A’ for all three environmental themes assessed by CDP: tackling climate change, acting to protect forests and ensuring water security. This year, a total of 9,600 companies disclosed data on environmental impacts, risks and opportunities through CDP’s questionnaires.
Jean-Paul Agon, Chairman and CEO of L’Oréal, said: “This triple A score is a recognition of our longstanding commitment to sustainability and the tremendous work carried out by our employees around the world, and together with our suppliers and partners. For the first time this year, ten companies have made it onto the Triple A List. This is worth celebrating. An increasing number of companies are now involved in this powerful initiative. They are all doing inspirational work for sustainable development and showing leadership in addressing the massive threats that our world is facing. Sustainability is not a matter of competition: it’s a collective responsibility that we must take very seriously. Together, we make a difference.”
Paul Simpson, CEO of CDP, said: “Congratulations to L’Oréal for their leadership and commitment to environmental transparency and for becoming the only company to have achieved a position on CDP’s Triple A List for five years in a row. More companies are taking action and this is particularly impressive in this challenging year marked by COVID-19. The scale of the risk to businesses from climate change, deforestation and water insecurity is enormous, and we know the opportunities of action far outweigh the risks of inaction. Our A List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today.”
This achievement is the result of L’Oréal’s ambitious targets and longstanding actions to cut carbon emissions, tackle deforestation in its supply chain and enhance water stewardship. Building on a deep-rooted commitment to sustainability and tangible results, the Group launched in June 2020 its new sustainable development program, L’Oréal for the Future, which comprises a list of ambitious targets on climate, water, biodiversity and natural resources for the decade to come.
A detailed and independent methodology is used by CDP to assess companies, allocating a score of A to D – based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that do not disclose or that provided insufficient information are marked with an F.
For more information: https://www.cdp.net/en/companies/companies-scores
CDP is a global non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with institutional investors with assets of US$106 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 9,600 companies with over 50% of global market capitalization disclosed environmental data through CDP in 2020. This is in addition to the hundreds of cities, states and regions who disclosed, making CDP’s platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP is a founding member of the We Mean Business Coalition.
Visit https://cdp.net/en or follow us @CDP to find out more.
L’Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 36 diverse and complementary brands, the Group generated sales amounting to 29.87 billion euros in 2019 and employs 88,000 people worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce.
Research and innovation, and a dedicated research team of 4,100 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world. L’Oréal sets out ambitious sustainable development goals across the Group for 2030 and aims to empower its ecosystem for a more inclusive and sustainable society.
More information: https://mediaroom.loreal.com/
About L’Oréal for the Future
L’Oréal’s new sustainability programme, L’Oréal for the Future, was launched in June 2020. Building on tangible results, the Group’s is committing to operate within the limits of the planet and to adapt to what it can withstand, as defined by environmental science. L’Oréal is therefore implementing a new internal transformation program, with quantifiable objectives, to limit the impact of all its activities on climate, water, biodiversity and natural resources. These new targets will not only focus on the Group’s direct impact but also tackle its extended impact, related to the activity of its suppliers and the use of products by its consumers.
On climate, L’Oréal’s overarching 2030 objective is to reduce its greenhouse gas emissions of all scopes by 50% per finished product. As a member of the ‘Business Ambition for 1.5°C’ initiative, the Group has also committed to net zero emissions by 2050. By 2025, all its sites will have achieved carbon neutrality. Among other strategic commitments, L’Oréal has also committed to recycling and reusing in a loop 100% of the water used in its industrial processes by 2030, and 100% of biobased ingredients for formulas and materials for packaging will be traceable and will come from sustainable sources by the end of the decade, none will be linked to deforestation.
To address some of the most pressing environmental and social challenges facing the world, L’Oréal is also allocating 100 million euros to impact investing dedicated to the regeneration of and the development of the circular economy, and 50 million euros to a charitable endowment fund to support highly vulnerable women.
Find out more about L’Oréal for the Future here.
"This press release does not constitute an offer of sale or solicitation of an offer to purchase L'Oréal shares. If you wish to obtain more comprehensive information about L'Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our website www.loreal-finance.com.
This press release may contain forecast information. While the Company believes that these statements are based on reasonable assumptions as of the date of publication of this press release, they are by nature subject to risks and uncertainties which may lead to a discrepancy between the actual figures and those indicated or suggested in these statements.”
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