L'Oréal receives a triple 'A' for environmental leadership in tackling climate change
CDP has recognized L'Oréal's leadership in corporate sustainability for 6 years. The Group has ambitious goals for 2030 to ensure its activities are compatible with Planetary Boundaries. CDP has rated L'Oréal AAA for 6 years in a row. Nicolas Hieronimus says environmental commitments are key to success.
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”.
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.
Source: Loreal news