PARIS – For the seventh consecutive year, L’Oréal has been granted a triple-A score for environmental achievement on climate change, forests and water security by the global environmental and nonprofit organization, CDP.
L’Oréal is the only company worldwide to have been given such a score for seven years in a row.
Thousands of companies were scored after filling out CDP’s 2022 Climate Change, Forests and Water security questionnaires. L’Oréal was among 12 companies 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 companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform. A record-breaking 18,700 companies scored,” said L’Oréal and CDP jointly in a statement released Tuesday morning.
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CDP uses a detailed, independent method to assess the companies, then scores them from A to D. Criteria include how comprehensive the disclosure is; the awareness and management of environmental risks, and demonstration of best practices linked with environmental leadership. An F is given to those companies that don’t disclose, or provide insufficient information.
“We are very honored to be the only company receiving the CDP triple-A rating for the seventh year in a row,” said Nicolas Hieronimus, chief executive officer of L’Oréal, in the statement.
“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.”
As part of its L’Oréal for the Future program, the group has set targets for 2030 that are three-pronged: transforming itself, empowering its business ecosystem and contributing to solving the world’s challenges.
CDP said it saw nearly 20,000 companies disclose environmental data this year, including 70 percent 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 degrees Celsius,” said Maxfield Weiss, executive director of CDP Europe.
“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,” he continued. “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 degrees Celsius without nature.
“With the EU’s ground-breaking new reporting regulation, the CSRD, now agreed, 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,” Weiss said. “This is the type of environmental transparency and action we need economy-wide to prevent ecological collapse.”