L’Oréal has been recognised as a global leader in the ongoing battle for our planet's future by being awarded the Terra Carta Seal by HRH the Prince of Wales.
Launched today through the Prince's Sustainable Markets Initiative (SMI), the Seal has been bestowed on 45 companies with clear roadmaps for achieving net zero carbon emissions by 2050 or earlier, that are said to have demonstrated their commitment to creating sustainable markets worldwide.
L’Oréal joins fellow big beauty and personal care players Unilever and Natura & Co that have been honoured for their eco-friendly initiatives, as well as giants across a range of industries including Amazon, Tesco and AstraZeneca.
Alexandra Palt, Executive Vice President, L’Oréal Chief Corporate Responsibility Officer and Executive Vice-President of the Fondation L’Oréal, said: “Being awarded the Terra Carta Seal is recognition of the progress made in our sustainable transformation to date and an opportunity to reinforce our commitment to playing an ongoing leadership role in protecting nature, people and planet.
“At L’Oréal, we want to demonstrate that companies can be part of the solution to some of today’s most pressing challenges."
The French beauty brand owner has ramped up its commitments towards a more sustainable future through various initiatives, reducing its industrial sites' CO2 emissions by 81% since 2005, while 96% of products launched in 2020 across the company's brand roster – which includes L’Oréal Paris, Maybelline and CeraVe, among others – are said to have an improved environmental or social profile, according to the company.
Meanwhile, it has also pledged to reduce its greenhouse gas emissions by 25% by 2030; ensure 100% of plastic packaging will be refillable, reusable or recyclable by 2025, and from recycled or bio-based sources by 2030; and restore one million hectares of degraded ecosystems by 2030 through its Fund for Nature Regeneration.
As world leaders convene to tackle the mounting issue of climate change at COP26 in Scotland, Palt added: “Increasingly, companies are understanding that it will not be possible to thrive in a society that is not inclusive or sustainable, and that the cost of inaction will be unaffordable.”