L’Oréal is recognized with outstanding triple ‘A’ CDP score for the sixth consecutive year
L’Oréal is recognized with outstanding triple ‘A’ score for the sixth consecutive year for environmental leadership in tackling climate change, ensuring water security and protecting forests
For the 6th year in a row, L’Oréal is recognized for leadership in corporate sustainability by global environmental non-profit CDP, securing a place on its prestigious ‘A List’ for tackling climate change as well as acting to protect water security and forests – all three environmental themes covered by CDP.
L’Oréal is the only company to have achieved, for six years running, an AAA score. This year, nearly 12,000 companies were scored based on data submitted through CDP’s questionnaires in 2021.
Through significant demonstrable action on climate, water security risks and against deforestation, L’Oréal is leading on corporate environmental ambition, action and transparency worldwide. Building on its longstanding commitment to sustainability, the Group has set ambitious targets towards 2030, as part of its program L’Oréal for the Future, to ensure its activities are compatible with Planetary Boundaries, meaning what our planet can withstand, as defined by environmental science.
CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2021, over 590 investors with over US$110 trillion in assets and 200 major purchasers with US$5.5 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform. A record-breaking 13,000 companies responded.
A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets.
Nicolas Hieronimus, CEO of L’Oréal, commented: “At L’Oréal, our purpose is to create the beauty that moves the world. This means that achieving our environmental commitments is a critical measure of success. To be the only company in the world to be rated AAA by CDP for the 6th consecutive year, is a huge honor and a commitment to continue the fight against global warming. This year, 14 companies have achieved a triple ‘A’, a powerful symbol that, collectively, we can be a powerful force of transformation. Together, we must continue to go further and faster to face the world’s most pressing environmental challenges. Finally, I would like to pay tribute to the Group’s CSR teams and to the leadership of Alexandra Palt, Chief Corporate Responsibility Officer, Executive Vice President of the Fondation L’Oréal and member of the Group’s Executive Committee”.
Paul Simpson, CEO of CDP, said: “Many congratulations to all the companies on this year’s A List. Taking the lead on environmental transparency and action is one of the most important steps businesses can make, even more so in the year of COP26 and the IPCC’s Sixth Assessment Report. The scale of the risk to businesses from climate change, water insecurity and deforestation can no longer be ignored, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector is essential for securing global ambitions for a net-zero, nature positive and equitable world. Our A List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today”.
The full list of companies that made this year’s CDP A List is available here, along with other publicly available company scores: https://www.cdp.net/en/companies/companies-scores
About L'Oréal
L’Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 35 diverse and complementary brands, the Group generated sales amounting to 27.99 billion euros in 2020 and employs 85,400 people worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce.
Research and innovation, and a dedicated research team of 4,000 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world. L’Oréal sets out ambitious sustainable development goals across the Group for 2030 and aims to empower its ecosystem for a more inclusive and sustainable society.
More information on https://www.loreal.com/en/mediaroom
About CDP
CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 590 investors with over $110 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Over 14,000 organizations around the world disclosed data through CDP in 2021, including more than 13,000 companies worth over 64% of global market capitalization, and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative.
Visit cdp.net or follow us @CDP to find out more.
About L’Oréal for the Future
L’Oréal’s new sustainability programme, L’Oréal for the Future, was launched in June 2020. Building on tangible results, the Group’s is committing to operate within the limits of the planet and to adapt to what it can withstand, as defined by environmental science. L’Oréal is therefore implementing a new internal transformation program, with quantifiable objectives, to limit the impact of all its activities on climate, water, biodiversity and natural resources. These new targets will not only focus on the Group’s direct impact but also tackle its extended impact, related to the activity of its suppliers and the use of products by its consumers.
On climate, L’Oréal’s overarching 2030 objective is to reduce its greenhouse gas emissions of all scopes by 50% per finished product. As a member of the ‘Business Ambition for 1.5°C’ initiative, the Group has also committed to net zero emissions by 2050. By 2025, all its sites will have achieved carbon neutrality. Among other strategic commitments, L’Oréal has also committed to recycling and reusing in a loop 100% of the water used in its industrial processes by 2030, and 100% of biobased ingredients for formulas and materials for packaging will be traceable and will come from sustainable sources by the end of the decade, none will be linked to deforestation.
To address some of the most pressing environmental and social challenges facing the world, L’Oréal is also allocating 100 million euros to impact investing dedicated to the regeneration of and the development of the circular economy, and 50 million euros to a charitable endowment fund to support highly vulnerable women.
Find out more about L’Oréal for the Future here.
"This press release does not constitute an offer of sale or solicitation of an offer to purchase L'Oréal shares. If you wish to obtain more comprehensive information about L'Oréal, please refer to the public documents registered in France with the Autorité des Marchés Financiers, also available in English on our website www.loreal-finance.com.
This press release may contain forecast information. While the Company believes that these statements are based on reasonable assumptions as of the date of publication of this press release, they are by nature subject to risks and uncertainties which may lead to a discrepancy between the actual figures and those indicated or suggested in these statements.”
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