L’Oréal unveils bold sustainability targets for 2030
L’Oréal has launched its new sustainability program “L’Oréal for the future”, laying down the group’s latest ambitions for 2030.
Amid growing environmental and social challenges, L’Oréal is accelerating its transformation towards a model respecting planetary boundaries and reinforcing its commitments to both sustainability and inclusion, the company said.
Its policy towards the planet includes:
- By 2025, all of L’Oréal’s sites will have achieved carbon neutrality by improving energy efficiency and using 100% renewable energy;
- By 2030, 100% of the plastics used in L’Oréal’s product packaging will be either from recycled or bio-based sources;
- By 2030, L’Oréal will reduce by 50% per finished product, compared to 2016, its entire greenhouse gas emissions.
Additionally, the group aims to support urgent social and environmental needs, through a plan launched in May 2020 to allocate €150 million (US$170 million) to address urgent social and environmental issues.
Of this, €50 million (US$56 million) will be used to finance damaged natural marine and forest ecosystems restoration projects through an impact investment fund; €50 million will be directed to financing projects linked to the circular economy; and to help vulnerable women, L’Oréal is also creating a €50 million charitable endowment fund.
In order to empower its consumers to make more sustainable choices, L’Oréal has developed a Product Environmental & Social Impact Labelling mechanism, scaling from A to E, endorsed by independent scientific experts and verified by an independent auditor, which will be progressively deployed for all brands and categories.
Jean-Paul Agon, Chairman and CEO of L’Oréal, said: “L’Oréal’s sustainable revolution is entering a new era. The challenges the planet is facing are unprecedented, and it is essential to accelerate our efforts to preserve a safe operating space for humanity. We do so in our own business operations and in our contribution to the society at large. We know that the biggest challenges remain to come and L’Oréal will stay faithful to its ambition: operate within the limits of the planet.”