L’Oréal Groupe, Kao Corporation and Natura & Co have been named in The Ethisphere Institute’s 2024 World’s Most Ethical Companies list.
The three cosmetic giants have been recognised in the US think tank’s list of 136 companies that rank highly for integrity, transparency, ethics and compliance.
Honorees span 20 countries and 44 industries and all were assessed against The Ethisphere Institute’s Ethics Quotient framework.
Weighted into five key categories, the criteria covers ethics and compliance; environmental and social impact; culture of ethics; governance; and third-party management.
French beauty giant L’Oréal, which owns CeraVe, Garnier, Maybelline and NYX, has been recognised 15 times over the years by the think tank.
Brazilian beauty company Natura & Co, the owner of beauty brands Avon and Natura, has been honoured for the thirteenth year in a row.
Kao Corporation, whose portfolio includes Molton Brown, John Frieda and Jergens, holds the highest number of mentions by a beauty company on the annual list.
The Japanese beauty conglomerate has appeared every year for the 18 years it has been running.
Kao Corporation has appeared on the list every year for the 18 years it has been running
“‘Walking the right path’ is our core value, and external evaluations such as this are very important to us,” said Yoshihiro Hasebe, Representative Director, President and CEO at Kao Corporation.
“We have reaffirmed our determination to continue taking on challenges as we work toward ambitious goals.
“We will continue applying the principle ‘We act with courage’ to become an industry-leading company in an ever-changing society.”
The Ethisphere Institute’s CEO Erica Salmon Byrne said the company is “delighted” to recognise Kao Corporation’s milestone achievement.
“Kao is one of only six companies to have received this recognition from its inception – 18 times.
“This achievement is a testament to Kao’s dedication to continually advancing best practices for ethics, compliance and governance.”
The Ethisphere Institute is the global leader in defining and advancing the standards of ethical business practices.
Other companies who made the 2024 list include transport company FedEx, toy conglomerate Hasbro, technology giant Hewlett-Packard and chocolate brand Hershey.
Read more:
- L’Oréal’s strategy to welcome Aēsop to the 'billionaire brand club'
- Kao Corporation's 2023 sales slide amid sluggish China recovery
- Natura & Co mulls separation of Avon business
