Newsweek has named L’Oréal the most sustainable company in the world in its 2017 Global 500 Green Rankings. The cosmetics company moved up 27 spots in just one year.
French cosmetics giant L’Oréal has been ranked the top performing global company when it comes to corporate sustainability, receiving a score of 89.90 per cent in Newseek’s 2017 Global 500 Green Rankings.
Newseek’s Green Rankings assesses the sustainability performance of the largest publicly traded companies in the U.S. and the world by revenue. It is based on eight sustainability and environmental indicators, including energy use, greenhouse gas emissions, carbon and water productivity as well as the presence of executive, board and third-party oversight mechanisms.
“We’re honoured to be recognised by Newsweek for our sustainability practices, as these touch every aspect of our business,” said Danielle Azoulay, assistant vice president of CSR & Sustainability at L’Oréal USA.
“Sustainability drives our research and innovation in exciting ways and reinforces our commitment to our employees and the communities in which we operate,” added Azoulay. “We’re continuously pushing ourselves to innovate, produce and develop more sustainably while also helping to empower our customers to make more sustainable choices.”
L’Oréal launched its global sustainability programme Sharing Beauty With All in 2013, which sets out sustainability commitments for 2020. For instance, the company is committed to a zero-deforestation policy by 2020 and has been sourcing 100 per cent of its palm oil from sustainable sources since 2015 and 100 per cent of its soya oil since 2015. 97 per cent of the paper and 99 per cent of the cardboard used in its packaging also come from sustainably managed forests.
What’s more, L’Oréal has successfully reduced CO2 emissions from its plants and distribution centres by 67 per cent since 2005 in absolute terms, reaching its 2020 target four years ahead of schedule.
In 2017, for the second year in a row, L’Oréal was one of only two companies in the world to score an “A” for all three of CDP’s programmes for its efforts in climate protection, sustainable water management and the fight against deforestation. CDP is an independent international organization that evaluates the environmental performance of companies.
Image credit: TheKarenD via Flickr