L'Oréal recognized as Global Compact LEAD by the United Nations and steps up its climate action by committing to zero-net emissions by 2050
Clichy, 24 September 2019 - The United Nations Climate Action Summit in New York has highlighted the importance of the contribution of businesses to fight climate change. In line with its long standing commitments to climate action, L'Oréal has taken one step further by joining the Business Ambition for 1.5°C initiative, a call-to-action issued by a broad coalition of business, civil society and UN leaders.
L'Oréal decided to aim zero-net emissions by 2050, thereby contributing to keeping global temperature increase within 1.5°C above pre-industrial levels.
Alexandra PALT, Executive Vice President & L'Oréal Chief Corporate Responsibility Officer, said: "Climate change is no longer a distant or future generation problem. L'Oréal was one of the first companies to set ambitious CO2 reduction targets in its industrial activity and to achieve them. However, this is not enough. We have to go much further and reduce our impact according to what scientific experts demand, and what our planet needs."
Taking gradual steps towards its 2050 zero-net emissions objective, L'Oréal committed to reducing its absolute scope 1,2 and 3 greenhouse gas emissions by 25% by 2030 (base year 2016). In support of this goal, L'Oréal will reduce absolute scope 1 and 2 emissions for all its industrial, administrative and research sites by 100% by 2025 (base year 2016). These commitments have been validated as science-based targets in December 2017 by the Science-Based Targets Initiative, ensuring that they complied with the trajectory required by the Paris Agreement.
This science-based approach follows a decade of work carried out by L'Oréal to reduce its carbon footprint across its value chain. The Group has already reduced the emissions of its industrial sites by 77% in absolute terms from 2005 to 2018. At the end of 2018, 38 L'Oréal sites had achieved carbon neutrality. This exceptional performance was recognized for the sixth year running by CDP, which awarded L'Oréal with an "A" rating for itsefforts in fighting climate change.
L'Oréal's commitment to reduce its environmental footprint and to demonstrate leadership for responsible business was once again recognized during the UN Global Compact Leaders Week. L'Oréal was recognized as a Global Compact LEAD participant for its ongoing commitment to the United Nations Global Compact and its Ten Principles for responsible business.
Lise KINGO, CEO and Executive Director of the UN Global Compact, said: "LEAD companies represent the highest level of engagement with the UN Global Compact. More thanever before, the world needs businesses of all sizes - like the ones announced as LEAD - thatcontinuously work to improve their sustainability performance and take action to build a betterworld."
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 26.9 billion euros in 2018 and employs 82,600 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 3,885 people, are at the core of L'Oréal's strategy, working to meet beauty aspirations all over the world. L'Oréal's sustainability commitment for 2020 "Sharing Beauty with All" sets out ambitious sustainable development objectives across the Group's value chain.
For more information: mediaroom.loreal.com/en
About Sharing Beauty with All
The Sharing Beauty with All sustainability programme was launched in 2013. Integrated all across the Group's value chain, it embodies L'Oréal's commitments to sustainability by the end of 2020. All aspects of its environmental and social footprint are addressed, from product design to distribution, including the production process and the sourcing of ingredients. Each year, L'Oréal reports on its progress in a way that is measurable and transparent. Today, the Group is one of the world's most-recognised companies when it comes to its strong ambition and commitment toward sustainability.
To learn more: loreal.com/loreal-sharing-beauty-with-all
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