L’Oréal has launched its new sustainability program ‘L’Oréal for the future’, laying down the Group’s latest set of ambitions for 2030, and we can’t help but applaud. In the context of growing environmental and social challenges, L’Oréal is accelerating its transformation towards a model respecting planetary boundaries and reinforcing its commitments to both sustainability and inclusion. The ‘L’Oréal for the future’ program is a strategy built on three pillars: transforming ourselves, empowering our business ecosystem, contributing to solving the challenges of the world.
Transforming ourselves
By stating ‘transforming ourselves’, L’Oréal’s is transforming its business to respect “planetary boundaries”. Planetary boundaries are limits, which, if crossed, will compromise the Earth’s capacity as a habitat for human development. Respecting a safe operating space for humanity must be a priority in the decades to come and L’Oréal aims to transition to a way of operating its entire business within the limits of the planet.
Therefore, the Group has defined new targets for 2030, to fight climate change as supported by the “Science Based Targets” initiative, but is also going one-step further by addressing three other major environmental issues: preservation of biodiversity, sustainable water management and circular use of resources. To ensure its business is respectful of a resource-limited planet, and fair for the communities it works with, L’Oréal will not only continue to reduce its direct environmental impacts, but also reduce the impacts of its entire activity including those of its suppliers and consumers.
- 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.
Empowering the business ecosystem
L’Oréal considers that embarking its business ecosystem (clients, suppliers and consumers) is part of its responsibility. To help its 1.5 billion consumers make more sustainable choices, L’Oréal has developed a Product Environmental & Social Impact Labelling mechanism; , endorsed by independent scientific experts and verified by an independent auditor. 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 labels and scores will be accessible on products’ web pages. The first brand to implement the new methodology as of 2020 is Garnier for its hair care products, third beauty brand worldwide and leader of the market in France. This labelling will progressively be extended to other countries, brands and product categories.
Contributing to solving the world’s challenges:
Contributing to solving the world’s challenges:L’Oréal announced in May 2020 that it will allocate €150 million to address urgent social and environmental issues:
- €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 a fund called the L’Oréal Fund for Nature Regeneration, Another €50 million will be directed to financing projects linked to the circular economy.
- €50 million charitable endowment fund to support field organizations 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.
”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 gene’rating 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” said Alexandra Palt, L’Oréal Chief Corporate Responsibility Officer.
We can’t wait to see the positive impact of this promising strategy and we hope that more will companies follow that path, as we are moving forward.
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