2023 universal registration document

In terms of the climate change adaptation objective:

In addition to complying with the technical criteria of the DNSH principle under the climate change mitigation objective, the Group is satisfied that adequate adaptation solutions exist in terms of equipment and infrastructure for the predominant physical risks identified. The application of this criterion allows the CapEx eligibility validation of activities suited to that purpose.

2. The five other objectives covered by the Taxonomy (DNSH):

In terms of the climate change mitigation objective:

As far as DNSH is concerned, under the adaptation objective, an external organisation has conducted the exposure analyses for climate change adaptation for this year. These analyses were carried out according to scenarios RCP 2.6, RCP 4.5 and RCP 8.5⁽¹⁾Representative Concentration Pathways [RCP] – AR6 with time horizons of 2040, 2050 and 2060, and the hazards described in Appendix A of the delegated regulation on the objectives of climate change mitigation and adaptation (2021/2139). An initial inventory of adaptation solutions was drawn up in 2022 and continued in 2023. Their assessments will be further developed during financial year 2024.

In terms of the climate change adaptation objective:

Each project must comply with high standards in terms of the methodology used for the criteria of substantial contribution to the climate change mitigation objective.

In terms of these two climate objectives:

Each project must do no harm to the other objectives included in the Taxonomy Regulation: water, circular economy, pollution and biodiversity. The DNSH analyses for these objectives are conducted on the basis of the information available for each project and activity, in view of the criteria laid down by the Delegated Acts.

3. Compliance with the “minimum safeguards”:

The “minimum social” criteria are reviewed centrally, by the Responsible Purchasing Departments and the Human Rights Department, in light of the requirements of the report on the minimum safeguards issued by the Platform on Sustainable Finance (PSF). L’Oréal guarantees that procedures have been put in place in respect of the four themes set out below. These measures are considered to be effective if (i) no complaints have been lodged against the Group or against a L’Oréal employee or (ii) an action plan is implemented following a complaint in one of the following four areas: respect for human rights (including consumer rights), anticorruption practices, tax policy implemented, raising administrative staff awareness of the importance of complying with all applicable laws and regulations in the field of competition law.