The inaugural Terra Carta Seal, founded by HRH the Prince of Wales, has been awarded to 45 global companies from a range of industries.
The Terra Carta Seal has been awarded to the companies in recognition of their commitment to, and momentum towards, the creation of genuinely sustainable markets. These firms are said to “have credible transition roadmaps in place, underpinned by globally recognised, scientific metrics for achieving net zero by 2050 or sooner”.
Amongst the 45 companies is L’Oréal. L’Oréal explain that their vision for the upcoming decade is one of a company whose activities are respectful of the Planetary Boundaries. Since 2005, L’Oréal has reduced its industrial sites’ CO2 emissions by 81% while production volume increased by 29% over the same period. 96% of the products launched in 2020 by the Group’s brands had an improved environmental or social profile.
With L’Oréal for the Future, its second sustainability programme, L’Oréal is accelerating its sustainable transformation. Amongst other commitments, it has pledged:
- to align with the 1.5°C scenario, reducing its greenhouse gas emissions of all scopes by 50% per finished product (25% in absolute terms), by 2030,
- to help restore by 2030 one million hectares of degraded ecosystems thanks to the L’Oréal Fund for Nature Regeneration, a 50 million euro impact investing fund,
- to ensure 100% of plastic packaging will be refillable, reusable, recyclable or compostable by 2025. By 2030, 100% of the plastics used in L’Oréal’s product packaging will be either from recycled or biobased sources.
- to help 100,000 people from disadvantaged communities gain access to employment by 2030.
“Being awarded the Terra Carta Seal is recognition of the progress made in our sustainable transformation to date and an opportunity to reinforce our commitment to playing an ongoing leadership role in protecting nature, people and planet. At L’Oréal, we want to demonstrate that companies can be part of the solution to some of today’s most pressing challenges. Increasingly, companies are understanding that it will not be possible to thrive in a society that is not inclusive or sustainable, and that the cost of inaction will be unaffordable.”
– Alexandra Palt, Executive Vice President, L’Oréal Chief Corporate Responsibility Officer and Executive Vice-President of the Fondation L’Oréal
