L’OREAL Philippines has put in place a roadmap to help achieve the Group’s global sustainability targets for 2030.
Its local goals include the drive towards sustainable e-commerce, consumer empowerment and education through green beauty, and the nationwide expansion of its learning program called “Beauty For A Better Life.”
The company intends to attain these targets by partnering with stakeholders and partners. It will announce the outlined details of its plans in mid-July.
“We are committed to take on greater responsibility by demonstrating that business can be part of the solution to the challenges that the Philippines is facing,” said Supriya Singh, country managing director of L’Oreal Philippines.
“We are ready to engage our entire ecosystem and inspire consumers and all people to take action with us.”
The global leader in cosmetics launched last week its new sustainability program “L’Oréal for the Future” laying down the Group’s ambitions for the next decade.
L’Oréal expedites the change of its business model to respect the planet’s limits and strengthens its commitments to both sustainability and inclusion.
Part of its objectives is that all of its sites will have to be carbon neutral by 2025, achievable by improving energy efficiency and using 100 percent renewable energy (RE).
In 2019, L’Oréal had already 35 carbon neutral sites last year that fully use RE, including 14 factories.
Likewise, it endeavors to use in its product packaging 100 percent of plastics made out of recycled or bio-based sources by 2030. Also that same year, the global firm seeks to reduce by half per finished product its total greenhouse gas emissions.
“L’Oréal’s sustainable revolution is entering a new era. The challenges the planet is facing are unprecedented, and it is essential to accelerate our efforts to preserve a safe operating space for humanity,” said Jean-Paul Agon, chairman and chief exective officer of L’Oréal.
“We do so in our own business operations and in our contribution to the society at large. We know that the biggest challenges remain to come and L’Oréal will stay faithful to its ambition: Operate within the limits of the planet,” he added.
Last month, the multinational launched its unprecedented plan, with an allocation of €150 million, to help address urgent social and environmental issues worldwide.
The blueprint includes its engagement of €100 million into impact investing to act upon key ecological challenges. €50 million of which will be used to bankroll damaged natural marine and forest ecosystems restoration projects through a fund dubbed the “L’Oréal Fund for Nature Regeneration” to be operated by Mirova, an affiliate of Natixis Investment Managers. Another €50 million will be directed to financing projects related to the circular economy.
Meanwhile, the remaining €50 million in the budget will go to charitable endowment fund to back up field organizations and local charities in their efforts to fight poverty, help women achieve social and professional integration, provide emergency assistance to refugee and disabled women, prevent violence against women, and support victims.