Company says it will give business incentives to most committed direct suppliers of palm oil
Cosmetics giant L’Oréal is increasing transparency and accountability for its stakeholders around sustainability by publishing its first Palm Oil Progress Report.
The 2015 report recaps the progress L’Oréal has made with its palm oil and palm oil derivatives goals, which include ensuring that by 2020 none of its products are linked to deforestation in any way.
The supply of agricultural commodities such as palm oil, soya oil and wood fibre-based products can all contribute to deforestation. Palm oil expansion is the main cause of deforestation in tropical regions.
In the report, L’Oréal highlighted that one of its goals for the upcoming year is to develop business links with committed and transparent suppliers – and to disengage with those that are not.
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