CLICHY, France — French beauty brand L'Oréal has been recognized by the Ethisphere Institute, a business ethics think tank, as one of its 2012 "World's Most Ethical Companies." This marks the third time that L'Oréal has been recognized for promoting the highest of ethical standards.
"L'Oréal is honored to be once again nominated as one of the ‘World's Most Ethical Companies.’ It is a wonderful recognition of the level of commitment of our employees worldwide. This award reinforces our conviction that long-term business success is built on high ethical standards and a genuine engagement with the community at large. A company with strong values is a company you can trust, and trust is the biggest asset a company can have," stated Emmanuel Lulin, group director of ethics at L'Oréal.
"A strong ethical foundation is a competitive advantage, and L'Oréal recognizes the important role corporate responsibility plays in improving its bottom line," added Alex Brigham, executive director of the Ethisphere Institute. "As more and more organizations strive for this honor each year, L'Oréal's inclusion as a World's Most Ethical Company for 2012 demonstrates its industry-leading commitment to ethics and dedication to integrity."
In 2000, L'Oréal was one of the first companies in France to establish a code of business ethics and to appoint, in 2007, a dedicated group director of ethics. In 2008, L'Oréal CEO Jean-Paul Agon received the Stanley C. Pace Leadership in Ethics Award. L'Oréal is a signatory of the UN Global Compact since 2003.