Source: Fortune
Summary
L’Oréal, a Fortune 500 Europe member, has partnered with Swiss startup Gjosa to create the Water Saver showerhead, which uses 70% less water. The company is focusing on sustainability, with a goal of making 100% of its plastic packaging reusable, refillable, recyclable, or compostable. L’Oréal has also announced a €100m partnership with Cambridge University’s Institute for Sustainability Leadership to collaborate on sustainability projects. The company’s chief corporate responsibility officer, Ezgi Barcenas, emphasizes the importance of “dual excellence” sustainability, which brings together climate and economic benefits.
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The strategy enters a familiar phase.
L’Oréal is rebranding sustainability as a business opportunity, rather than a moral imperative. The company is focusing on “dual excellence” sustainability, which combines climate and economic benefits. This approach is reflected in its partnership with Gjosa and its goal of making 100% of its plastic packaging sustainable. L’Oréal’s chief corporate responsibility officer, Ezgi Barcenas, emphasizes the importance of finding market-ready solutions that can be quickly piloted and brought to scale. The company is also exploring new materials, such as sugarcane and seaweed, to reduce its environmental impact.
The numbers tell one story, but the real story is how L’Oréal is reframing sustainability as a business opportunity.
Author: Evan Null
