CLICHY -- L’Oréal has been recognized by the Ethisphere Institute as a 2017 World’s Most Ethical Company®.
|L’Oréal Gets World’s Most Ethical
by Ethisphere Institute
Ethical Business Practices
L’Oréal has been recognized for the 8th time and is one of only 2 in the Health and Beauty industry, underscoring their commitment to leading ethical business standards and practices.
Chairman and Chief Executive Officer of L’Oréal, Jean-Paul Agon said:
“Culture is the foundation of a high performing, innovative and sustainable company. I am proud that ethics is the key pillar of our culture and leadership, requiring our teams throughout the world to always include ethics in the decisions they make”.
Senior Vice-President and Chief Ethics Officer, Emmanuel Lulin said:
“Receiving this recognition from Ethisphere for the 8th time is a source of pride for everyone at L’Oréal. Ethics is the new decision-making framework and we are convinced that a strong culture of integrity is an essential component for long-term success.”
Bringing the Positive Change
Twenty-seventeen is the eleventh year that Ethisphere has honored those companies who recognize their role in society to influence and drive positive change, consider the impact of their actions on their employees, investors, customers and other key stakeholders and use their values and culture as an underpinning to the decisions they make every day.
Ethisphere’s Chief Executive Officer, Timothy Erblich explained:
“Over the last eleven years we have seen the shift in societal expectations, constant redefinition of laws and regulations and the geo-political climate. We have also seen how companies honored as the World’s Most Ethical respond to these challenges. They invest in their local communities around the world, embrace strategies of diversity and inclusion, and focus on long term-ism as a sustainable business advantage. Congratulations to everyone at L’Oréal for being recognized as a World's Most Ethical Company."
Methodology & Scoring
The World's Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient® (EQ)
framework which offers a quantitative way to assess a company’s performance in an objective, consistent and standardized way. The information collected provides a comprehensive sampling of definitive criteria of core competencies, rather than all aspects of corporate governance, risk, sustainability, compliance and ethics.
Scores are generated in five key categories:
- Ethics and compliance program (35%)
- Corporate citizenship and responsibility (20%)
- Culture of ethics (20%)
- Governance (15%) and leadership
- Innovation and reputation (10%)
L’Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 34 diverse and complementary brands, the Group generated sales amounting to 25.8 billion euros in 2016 and employs 89,300 people worldwide. As one of the world’s leading beauty companies, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce.
Research and innovation, and a dedicated research team of 3,870 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world. L’Oréal’s sustainability commitment for 2020 “Sharing Beauty With All” sets out ambitious sustainable development objectives across the Group’s value chain.
About Ethisphere Institute
Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA) and showcases trends and best practices in ethics with the publication of Ethisphere Magazine.