PARIS — L’Oréal has been awarded a Triple A rating for its corporate sustainability for the fifth consecutive year, making it the only company in CDP’s annual ranking to achieve such a record.
CDP, a global nonprofit organization that urges companies to share their environmental data and assesses their performance and efforts to be transparent, grades groups on how they undertake climate change, protect forests and safeguard water security.
In 2020, 9,600 companies from various sectors answered CDP’s questionnaire.
“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,” said Jean-Paul Agon, L’Oréal chairman and chief executive officer, in a statement.
“For the first time this year, 10 companies have made it into the Triple A list. This is worth celebrating. An increasing number of companies are now involved in this powerful initiative,” he continued. “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.”
You May Also Like
“The scale and 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,” said Paul Simpson, ceo of CDP. “Our A list celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today.”
L’Oréal, the world’s largest beauty-maker, has been a pioneer with its sustainability actions, spearheaded by Agon.
Since 2005, for instance, the group has decreased the carbon dioxide emissions of its plants and distribution centers by 78 percent, while production volume rose by 37 percent. By the end of last year, the company had 35 carbon-neutral sites, including 14 factories.
In 2013, L’Oréal launched its worldwide sustainability program, dubbed Sharing Beauty With All, with targets for 2020 focused on the development of the company’s beauty products.
In late June of this year, L’Oréal revved up its goals for 2030 with a new program called L’Oréal for the Future, which was created to bolster the group’s sustainability and inclusion commitments.
“Until recently, the emphasis was to define our ambition according to a baseline,” explained Alexandra Palt, L’Oréal’s executive vice president, chief corporate responsibility officer and executive vice president of the Fondation L’Oréal, at the time.
“What we say now is that the next generation of environmental target has to have a different philosophy, which is to respect the limits of the planet. So that means defining targets according to science,” she said.
For more, see: