PARIS — L’Oréal was acknowledged for the fourth consecutive year for its climate change mitigation strategy in the annual CDP ranking.
Formerly known as the Carbon Disclosure Project, CDP is a nonprofit organization that provides a global system for measuring and disclosing environmental information that evaluates the performance and transparency of companies’ climate change mitigation strategies.
This year, the world’s largest beauty company was granted an “A” rating, the highest level of performance in the index, for the management of its carbon footprint, climate change strategy and policies’ transparency.
Jean-Paul Agon, chairman and chief executive officer of L’Oréal, said in a statement that the renewed recognition “encourages us to go further and to accelerate L’Oréal’s transition to a low-carbon business.”
As reported, the company has already committed to reducing carbon dioxide emissions from its production by 60 percent by 2020 against a 2005 baseline. Between 2005 and 2015, L’Oréal had already reduced such emissions from its operations by 56 percent, despite a 26 percent increase of production in the same timeframe.
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In 2015, the company was granted an “A” ranking for its carbon footprint management and a score of 99 out of 100 for the transparency of its policies.
L’Oréal became a member of CDP in 2002. Five years later, it joined the project’s supply chain program to encourage its suppliers to measure and manage their carbon dioxide emissions.
L’Oréal’s sustainability commitment for 2020 is called Sharing Beauty With All. In April, the beauty maker released results from the program in 2015 and said its effects were accelerating. The progress included 74 percent of the group’s products launched during the year having an improved environmental or social profile, versus 67 percent in 2014.
Further, numerous brands introduced products with formulation enabling a 97 percent to 99 percent level of biodegradability. These included Garnier Ultra Doux Mythical Olive body lotion and Kérastase Fusio-Dose Booster Discipline. Two-thirds of L’Oréal’s brands assessed their products’ environmental or social profile last year, while in 2014 the level stood at 22 percent.