NEW YORK — Beauty giant L'Oréal has been recognized by the Ethisphere Institute, an independent center of research promoting best practices in corporate ethics and governance, as a “World's Most Ethical Company.”
This marks the fifth time that L'Oréal has received this award, which recognizes organizations that continue to raise the bar on ethical leadership and corporate behavior.
L'Oréal also has reached first place in the personal and household goods sector and eighth globally, with a grade of Aa+, in the Covalence EthicalQuote, a reputation index tracking the world's largest 581 companies on environmental, social, governance, corporate social responsibility, ethics and sustainability.
"This good news coincides with the launch of our ambitious ‘Sharing Beauty with All’ commitments regarding sustainable innovation, production and consumption," stated Jean-Paul Agon, CEO and chairman of L'Oréal. "Respecting high ethical standards and serving the common good will not only make a real difference in the 21st century, but will also, through the resulting transformations, have a positive impact on our company's profitability."
Ethics at L'Oréal:
- In 2007, Emmanuel Lulin was appointed as L'Oréal's chief ethics officer;
- In 2008, Agon received the Stanley C. Pace Leadership in Ethics Award;
- L'Oréal is a signatory of the United Nations Global Compact since 2003, is one of the 100 companies included in the new Global Compact 100 stock index and has recently signed the Women's Empowerment Principles, an initiative of UN Women and the Global Compact; and
- L'Oréal organizes an annual Ethics Day where employees from around the world can chat online with L'Oréal's chairman and CEO about ethics.