PARIS — L’Oréal was acknowledged for the third year running for its climate change mitigation strategy in the annual Carbon Disclosure Project (CDP) ranking.
CDP is a nonprofit organization providing a global system measuring and disclosing environmental information that evaluates the performance and transparency of companies’ climate change mitigation strategies.
L’Oréal was given an “A” grade, the highest level of performance in the index, for the management of its carbon footprint and climate change strategy. The world’s largest beauty company was also given a 99 out of 100 for its policies transparency.
“We believe that economic performance and social and environmental responsibility go hand in hand,” said Jean-Paul Agon, L’Oréal chairman and chief executive officer.
As reported, the company has 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 50 percent, despite a 22 percent increase of production in the same time frame.
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The company 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.