L’Oréal recognised by S&P for ESG performance
L’Oréal Group has been awarded by S&P for its "outstanding performance", receiving a strong Environmental, Social and Governance (ESG) rating.
Scoring 85 out of 100 points, the group credits its ESG performance to leadership commitment and a comprehensive and ambitious sustainability strategy.
The award consists of a sustainability performance score 77 out of 100, along with a strong preparedness score (+8).
In a statement, S&P said: "L’Oréal has demonstrated its commitment to advancing the sector's environmental standards through its best practices in sustainable packaging. It has also pioneered efforts in relation to green chemistry principles to improve the environmental credentials of product formulas."
This news follows the group's recent achievement in receiving the Terra Carta Seal last month for its sustainability efforts.
Since 2005, L’Oréal has reduced its industrial sites’ CO2 emissions by 81%. In 2020, 96% of the products launched by L’Oréal group’s brands had an improved environmental or social profile.
Alexandra Palt, Chief Corporate Responsibility Officer and CEO of the Fondation L’Oréal, said: “S&P’s evaluation of our ESG performance reflects our ability to conduct business and achieve economic success in an environmentally and socially responsible manner.
"At L’Oréal, we know that it will not be possible to thrive in a society that is not inclusive or sustainable and we want to show that change is possible. Through ambitious goals for 2030, we are accelerating our transformation towards an ever more sustainable business model."
L’Oréal aims to ensure 100% of its plastic packaging will be refillable, reusable or recyclable by 2025 and from recycled or bio-based sources by 2030.