Sunday, September 27, 2020
Home Energy & Me L’Oréal leads the way towards sustainable transformation of the beauty industry

L’Oréal leads the way towards sustainable transformation of the beauty industry

World-leading beauty group L’Oréal, launched its new sustainability program L’Oréal for the future, laying down the Group’s ambitions for 2030. The company aims to accelerate its transformation towards a model respecting planetary boundaries and reinforcing its commitments to both sustainability and inclusion in the context of growing environmental and social challenges.

“L’Oréal’s sustainable revolution is entering a new era,” Jean-Paul Agon, Chairman and CEO of L’Oréal commented upon the announcement of the company’s new targets. “The challenges the planet is facing are unprecedented and it is essential to accelerate our efforts to preserve a safe operating space for humanity.”

Mr Agon ensured that L’Oréal will stay faithful to its ambition and operate alongside its value chain within the limits of the planet.

With this in mind, L’Oréal committed itself that by 2025, all of the Group’s manufacturing, administrative and research sites will reach carbon neutrality by improving energy efficiency and using 100 per cent renewable energy. Through this commitment, L’Oréal wishes to contribute to the energy transition in countries where it operates. At the end of 2019, L’Oréal had 35 carbon-neutral sites (operating on 100 per cent renewable energy), including 14 factories.

Regarding greenhouse gas emissions, L’Oréal pledged to reduce by 50 per cent per finished product its emissions compared to 2016 by 2030. Since 2005, the Group has reduced the carbon emissions of its plants and distribution centres by 78 per cent in absolute terms, exceeding its initial target for 2020, while production volume increased by 37 per cent over the same period.

L’Oréal started to integrate sustainability principles in its product design early on. As a new commitment, the company announced that by 2030, 100 per cent of the plastics used in L’Oréal’s products’ packaging will be either from recycled or bio-based sources.

In addition, L’Oréal is allocating 150 million US dollars (133.5 million euros) to address urgent environmental and social issues. The fund will be used to finance for instance damaged natural marine, restoration of forest ecosystems and projects linked to the circular economy.

“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 generating positive social and environmental contribution,” summarised Alexandra Palt, L’Oréal Chief Corporate Responsibility Officer.

L’Oréal established a presence in the Central European region quite early on now. The company strives to pursue sustainability principles on the local level as well. For instance, at the L’Oréal Warsaw Plant – the Group’s largest factory in terms of volume – the construction of a Water Recycling Station will be completed by mid-2020, designed to reflect key aspects sustainable transformation.

Most Popular

Kosovo to expand its wind capacity with 57.5 mln euros EBRD loan

Kosovo, a country heavily reliant on coal, took a major step towards the decarbonisation of its electricity sector with the help of a 57.5 mln euros loan from the EBRD to finance the construction of a 105 MW wind farm.

PGNiG Upstream Norway acquires two new fields in the North Sea

PGNiG Upstream Norway signed an agreement with Norske Shell to acquire interests in Kvitebjørn and Valemon, two producing fields in the North Sea. The gas produced will be sent to Poland after the Baltic Pipe link is launched.

Antje Kanngiesser appointed new CEO of the Alpiq Group

Antje Kanngiesser has been appointed as the new CEO of the Alpiq Group, the leading Swiss electricity producer.

Taking account of social and environmental impacts ahead of the World Tourism Day

Tourism has been among the hardest hit of all sectors by the COVID-19. On this World Tourism Day, the pandemic represents an opportunity to rethink the future of the tourism sector, including how it contributes to the sustainable development goals.