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13 Dec

L’Oréal Sets Record for Environmental Achievement and Transparency –

PARIS – For the seventh consecutive yr, L’Oréal has been granted a triple-A rating for environmental achievement on climate change, forests and water security by the worldwide environmental and non-profit organization, CDP.

L’Oréal is the one company worldwide to have been given such a rating for seven years in a row.

1000’s of firms were scored after filling out CDP’s 2022 Climate Change, Forests and Water security questionnaires. L’Oréal was amongst 12 firms to have achieved a triple A rating.

“In 2022, over 680 investors with over $130 trillion in assets and 280 major purchasers with $6.4 trillion in procurement spend requested firms to reveal data on environmental impacts, risks and opportunities through CDP’s platform. A record-breaking 18,700 firms scored,” said L’Oréal and CDP jointly in a press release released Tuesday morning.

CDP uses an in depth an independent method to evaluate the businesses, then scores them from A to D. Criteria include how comprehensive the disclosure is; the notice and management of environmental risks; and demonstration of best practices linked with environmental leadership. An F is given to those firms that don’t disclose, or provide insufficient information.

“We’re very honored to be the one company receiving the CDP triple-A rating for the seventh yr in a row,” said Nicolas Hieronimus, chief executive officer of L’Oréal, within the statement.

“That is an affidavit of L’Oréal’s long-term commitment and to our ambition that our activities will likely be respectful of the planetary boundaries by 2030. Because the world’s leading beauty company, I feel that we’ve got an obligation to steer by example. We would like to leverage our scale to turn out to be a catalyst of change, and mobilize all parts of our ecosystem to deal with the pressing climate and environmental challenges all of us face. By working together, we are able to create the sweetness that moves the world.”

As a part of its L’Oréal for the Future program, the group has set targets for 2030 which can be three-pronged: transforming itself, empowering its business ecosystem, and contributing to solving the world’s challenges.

CDP said it saw nearly 20,000 firms disclose environmental data this yr, including 70 percent of European firms by market value. “COP27 showed the necessity for transformational change is more critical than ever if we’re to limit warming to 1.5 degrees Celsius,” said Maxfield Weiss, executive director of CDP Europe.

“I’m subsequently delighted that European firms make up nearly half of all A-list firms world wide, including 15 with two A scores and eight with triple-A scores for climate change, forests and water security leadership,” he continued. “We must cut emissions by half and eliminate deforestation by 2030, alongside achieving water security on the identical timescale – there is no such thing as a path to 1.5 degrees Celsius without nature.

“With the EU’s ground-breaking recent reporting regulation, the CSRD, now agreed, CDP A-list firms are showing they’re ahead of the sport – taking clear motion to cut back emissions and to deal with environmental impacts throughout their value chains,” said Weiss. “That is the form of environmental transparency and motion we want economy-wide to forestall ecological collapse.”

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