L’Oréal has become one of the latest companies to have its emissions reduction targets approved by the Science Based Targets initiative (SBTi), a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
The French beauty giant’s commitment has taken the number of major companies to sign up to the initiative to more than 100, with a further 270 firms pledging to set science-based targets and preparing a formal submission to the SBTi. What’s more, data from CDP suggests that some 850 companies declared their ambition to set a science-based target in the next two years in their 2017 climate disclosures.
“At L’Oréal we have been committed to fight climate change for many years, both within our company – we reduced the CO2 emissions of our production by 73 percent, in absolute terms, from 2005 to 2017 – and in our value chain,” said Alexandra Palt, Chief Corporate Responsibility Officer, L’Oréal. “The validation by the Science Based Targets initiative of our new carbon reduction 2030 commitments brings us one step further in our long-term journey towards a low-carbon business model, addressing our global impacts and contributing to the 2° scenario confirmed by the Paris Agreement.”