L’Oréal Sets to be Fully Sustainable by 2030


L’Oréal makes a big step promising environmental changes as soon as next year and to be sustainable in 10 years.

L’Oréal, the world’s largest cosmetic company, announced its plan to be fully sustainable by 2030, according to Harper’s Bazaar.

Partially sparked by the coronavirus pandemic, L’Oréal launched its new sustainability programme ‘L’Oréal For The Future’, a critical part of its next decade’s development and applies to all brands owned by the groups, including Lancôme, Armani and Garnier.

The program is focusing on respecting “planetary boundaries”, a transition to operating its business within the limits of the planet’s resources but also to helping its suppliers and consumers to reduce their impact on the environment.

Following L’Oréal’s previous efforts, such as assessing the environmental and social performances of all products by the Sustainable Product Optimization Tool, this new commitment has stepped it further. The firm pledges to produce all Consumer Products Division haircare lines with 100% recycled plastic by 2025, saving 18,000 tonnes of virgin plastic each year. It expects to launch paper-based tubes for La Roche Posay’s sunscreens as early as 2021. Refillable Source Essentielle shampoo bottles are expected to use by salons at the backwash, and plastic hygiene kits will be replaced by bamboo alternatives.

With its Product Environmental & Social Impact Labelling scheme, L’Oréal will rate all products based on their environmental impact. Garnier will be the first to implement this tool. L’Oréal is also dedicating to reducing both the firm’s and customers’ water use. The company has committed to replacing 100% of the plastics used for its products with recycled or bio-based sources by 2030.

In the autumn, the make-up recycling programs are expected to be introduced into 1,000 UK stores. All of its production sites will be carbon neutral through the use of 100% renewable energy by 2025. By 2030, its greenhouse gas emissions will fall by 50% compared to 2016.

In May 2020, the company has launched the L’Oréal Fund for Nature Regeneration to support social and environmental issues.

Read the full story here.

Economics, Finance and Investing