The Science-Based Targets initiative (SBTi) has approved L’Oréal’s emissions reduction goals.
The SBTi was formed as a result of a partnership between CDP, the United Nations Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
The initiative helps companies develop strategies to meet the emissions goals of the Paris Agreement, which seeks to limit global warming to below 2°C above pre-industrial levels.
By 2030, L’Oréal has committed to reducing its Scope 1, 2 and 3 greenhouse gas emissions by 25%, compared with 2016 levels.
L’Oréal chief corporate responsibility officer Alexandra Palt said: “At L’Oréal we have been committed to fighting climate change for many years, both within our company (we reduced the CO2 emissions of our production by 73%, in absolute terms, from 2005 to 2017) and in our value chain.
“The validation by the SBTi 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.”
Other companies that have been approved by SBTi include McDonald’s, Sony, Tesco, Edge Environment, SGS and Tennant Company.
One of SBTi’s partners United Nations Global Compact’s Chief of Programmes Lila Karbassi said: Companies that commit to setting science-based targets are showing their commitment to creating a well below 2°C world. Their action sends a strong signal to governments around the world that they can be confident in raising their own ambition.”
