| Substantial contribution criteria | Do No Significant Harm (DNSH) criteria | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| absolute OPEX | Proportion of OPEX | Climate change mitigation | Climate change adaptation | Climate change adaptation | Sustainable use and protection of water and marine resources | Transition towards a circular economy | Pollution Prevention & Control | Protection and restoration of biodiversity and ecosystems | Minimum safeguards | Taxonomy-aligned proportion of OPEX, year 2022 | Taxonomy-aligned proportion of OPEX, year 2021 | Category (enabling activity) | Category (transitional activity) | |
| Economic activities | €m | % | % | % | Yes/No | Yes/No | Yes/No | Yes/No | Yes/No | Yes/No | % | M | T | |
| A. TAXONOMY-ELIGIBLE ACTIVITIES | ||||||||||||||
| A.1 Environmentally sustainable activities (aligned with the Taxonomy) | 0 | 0% | ||||||||||||
| OPEX of environmentally sustainable activities (i.e. aligned with the Taxonomy) (A.1) | 0 | 0% | ||||||||||||
| A.2 Taxonomy-eligible activities that are not environmentally sustainable (not aligned with the Taxonomy) | 0 | 0% | ||||||||||||
| OPEX of activities eligible for the Taxonomy but not environmentally sustainable (not aligned with the Taxonomy) (A.2) | 0 | 0% | ||||||||||||
| TOTAL (A.1 + A.2) | 0 | 0% | ||||||||||||
| B. ACTIVITIES NOT ELIGIBLE FOR THE TAXONOMY | ||||||||||||||
| OPEX of activities not eligible for the Taxonomy (B) | 1,224 | 100% | ||||||||||||
| TOTAL (A+B) * | 1,224 | 100% | ||||||||||||
* Costs related to building renovation, maintenance and repair and any other direct expenditure relating to the day-to-day servicing of property, plant and equipment are not currently recorded centrally in our IT systems and have not been included in this calculation. However, we consider that the absence of this data does not call into question the application of the exemption from calculating the Opex numerator.
In addition to transforming its economic model, the Group’s ambition is to help to solve some of the most pressing social and environmental challenges.
Conscious of the growing pressure on natural resources and the global waste crisis, at the end of 2020 L’Oréal set up a global investment fund dedicated exclusively to the circular economy, called the Circular Innovation Fund (CIF). It aims to finance companies that are innovating in the areas of recycling, plastic waste management and materials from the bioeconomy (1).
This international fund, the objective of which is to reach €150 million, is co-managed by Cycle Capital Management and Demeter. At the end of 2022, more than €85 million raised and gathered 10 co-investors. As the primary sponsor of the Circular Innovation Fund, L’Oréal is committed to investing a total of €50 million in this Fund. More than 560 investment projects were analysed in 2022, and three were selected, committing more than €15 million, of which €6 million have already been invested. In 2022, for example, the CIF fund invested in LIZEE (2), a company which specialises in reverse logistics on the repair and second-hand market.
