L’Oréal unveils new global sustainability program
L’Oréal has launched its new global sustainability program, “L’Oréal for The Future,” which outlines a new set of goals for 2030 that will transform the way it does business and addresses critical environmental and societal issues.
The program lays out specific actions and measurable objectives that will further accelerate the company’s transformation to respect the planet’s limits, contribute to solving the problems of the world, and empower L’Oréal’s consumers, clients and suppliers to make more sustainable and inclusive choices, it said in a statement.
“L’Oréal for The Future” includes benchmarks and investments intended to create environmental and social change – including about $170 million in charitable donations to support highly vulnerable women and restore natural habitats.
“At L’Oréal Caribe we have developed a committee of excellence dedicated to Sustainability issues, led by our employees. With the new program ‘L’Oréal for the Future,’ we’ll have the opportunity to develop new projects aligned to the company’s sustainability commitments, to support in finding solutions to critical environmental and social problems at the local level, for Puerto Rico and for the Caribbean region,” said Dave Hughes, general manager of L’Oréal Caribe.
“L’Oréal Caribe is an active member in the community with a strong culture of volunteerism and commitment to help support the communities where we operate, even more so now during times of crisis,” he said.
The institutional program is focused on three goals, all supported by the following actions:
• Transforming L’Oréal’s business to respect the planet’s limits, which calls for all of the company’s global sites will have achieved carbon neutrality by 2025, by improving energy efficiency and using 100% renewable energy. By 2030, 100% of the plastics used in L’Oréal’s products’ packaging will be either from recycled or bio-based sources. By that same year, L’Oréal will reduce by 50% per finished product, compared to 2016, its entire greenhouse gas emissions, the company said.
• Contributing to solving the world’s challenges by supporting urgent social and environmental needs through a plan launched in May 2020, calling for investments to support the restoration of damaged natural marine and forest ecosystems through the L’Oréal Fund for Nature Regeneration, projects linked to the circular economy which is a system that looks to reduce, reuse and recycle resources.
L’Oréal is also creating a $56 million charitable endowment fund to support field organizations and local charities in their efforts to fight poverty, help women achieve social and professional integration, provide emergency assistance to refugee and disabled women, prevent violence against women, and support victims.
• By 2030, L’Oréal will: pay living wages to strategic suppliers’ employees; help about 100,000 people from disadvantaged communities gain access to jobs; and extend social engagement programs (access to water, access to education and vocational training) to 3 million people.