L’Oréal is one of only 12 companies to achieve three ‘A’ ratings in the Carbon Disclosure Project’s (CDP) coveted annual list this year.
It marks the seventh year in a row that the beauty giant has been recognised on the global environmental non-profit’s ‘A’ list.
Based on data reported through CDP’s 2022 Climate Change, Forests and Water Security questionnaires, L’Oréal was credited for its leadership in corporate transparency and environmental performances for tackling climate change, as well as acting to protect forests and water security.
Nicolas Hieronimus, CEO, L’Oréal Group, commented: “We are very honoured to be the only company receiving the CDP triple ‘A’ rating for the seventh year in a row.
‘Beauty that moves the world’
“This is testament to 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 mobilise 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 reported, the Group has outlined several ambitious targets by 2030 as part of its L’Oréal for the Future programme.
This covers three pillars: transforming ourselves, empowering our business ecosystem and contributing to solving the challenges of the world.
Acknowledged as the gold standard in corporate environmental transparency, CDP’s global disclosure system assesses investors, companies, cities, states and regions.
More than 18,700 companies disclosed their climate, forests and water security impacts through CDP this year.
Of the nearly 15,000 companies scored for this year’s ‘A’ List, more than 330 were successful.
A total of 283 companies made the 2022 Climate Change ‘A’ List, 25 companies made the 2022 Forest ‘A’ List, and 103 companies made the 2022 Water Security ‘A’ List.
In appraising the companies, CDP allocates a score of A to D based on the comprehensiveness of the disclosure, awareness and management of environmental risks, plus demonstration of best practices associated with environmental leadership, such as as meaningful targets.
Maxfield Weiss, Executive Director, CDP Europe said: “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 8 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.”