L’Oréal repeats top score for environmental achievements
Based on data reported through CDP’s 2022 Climate Change, Forests and Water Security questionnaires, L’Oréal is one of only 12 companies that achieved a triple A – out of nearly 15,000 companies scored.
According to the team, CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. In 2022, over 680 investors with over US$130 trillion in assets and 280 major purchasers with US$6.4 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform. A record-breaking 18,700 companies responded.
A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership such as setting ambitious and meaningful targets. Those that don’t disclose or provided insufficient information are scored an F.
“We are very honored to be the only company receiving the CDP triple A rating for the seventh year in a row. This is a testimony of L’Oréal’s long-term commitment and to our ambition that our activities will be respectful of the planetary boundaries by 2030. As the world’s leading beauty company, I believe that we have a duty to lead by example. We want to leverage our scale to become a catalyst of change and mobilize all parts of our ecosystem to address the pressing climate and environmental challenges we all face. By working together, we can create the beauty that moves the world," comments Nicolas Hieronimus, CEO at L’Oréal.
The L'Oréal Group has set ambitious targets toward 2030, as part of its program L’Oréal for the Future. This program covers three pillars: transforming ourselves, empowering our business ecosystem and contributing to solving the challenges of the world.
“CDP saw nearly 20,000 companies disclose environmental data this year, including 70% of European companies by market value. COP27 showed the need for transformational change is more critical than ever if we are to limit warming to 1.5 °C. I’m therefore delighted that European companies make up nearly half of all A List companies around the world, including 15 with two A scores and eight with triple A scores for climate change, forests, and water security leadership. We must cut emissions by half and eliminate deforestation by 2030, alongside achieving water security on the same timescale – there is no route to 1.5°C without nature.
"With the EU’s ground-breaking new reporting regulation, the CSRD, CDP A List companies are showing they are ahead of the game – taking clear action to reduce emissions and to address environmental impacts throughout their value chains. This is the type of environmental transparency and action we need economy-wide to prevent ecological collapse," adds Maxfield Weiss, Executive Director at CDP Europe.