Commercial, GHG Emissions, Sourcing Renewables - June 30, 2020
L’Oréal targets carbon neutrality, 100% RE by 2025
L’Oréal announced June 25 their “L’Oréal for the future” sustainability plan, which includes targets to achieve carbon neutrality and 100% renewable energy at all their sites before 2025 and reduce greenhouse gas emissions per finished product 50% from 2016 levels before 2030.
The cosmetics company launched in May 2020 an initiative to allocate €150 million to address “urgent social and environmental needs.” Another sustainability initiative they are pursuing is the development of a Product Environmental & Social Impact Labelling mechanism, which was endorsed by independent scientific experts and verified by Bureau Veritas Certification, for all their brands and categories.
At the end of 2019, L’Oréal has reduced carbon emissions at their plants and distribution centers by 78% since 2005, surpassing their 2020 goal of a 60% reduction. At the same time, the company had 35 carbon-neutral sites that use 100% renewable energy, 14 of which are factories.
“L’Oréal’s sustainable revolution is entering a new era,” CEO Jean-Paul Agon said in a statement. “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.”
As part of their sustainability plan, L’Oréal is also implementing projects around the preservation of biodiversity, sustainable water management and circular use of resources. Of their investment into environmental issues, €100 million will go toward impact investing regarding key environmental challenges and €50 million will go toward financing damaged natural marine and forest ecosystems restoration projects.
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