Cosmetics company L'Oreal's move towards carbon balancing by the year 2020 has proved not only successful so far, but economically viable. The company has cut it's carbon dioxide emissions by 56 percent in the last 11 years, while increasing production by 26 percent. By 2020, L'Oreal hopes it's efforts towards carbon balancing will cut carbon emissions by 60 percent. The brand also hopes to increase its use of renewable energy and boost energy efficiency.
Admitting there are areas in need of improvement, the brand will soon be offering a product assessment tool that will allow consumers to track the environmental profile of all of its products.
L'Oreal's success in this endeavor is an important accomplishment that counters the dominant economic narrative that sees economic growth and environmentally-friendly business practices as mutually exclusive.
Eco Beauty Brand Initiatives
L'Oreal's New Business Plan is Centered Around Carbon Balancing
Trend Themes
1. Carbon Balancing - L'Oreal's move towards carbon balancing presents opportunities for businesses to reduce their carbon emissions and increase production simultaneously.
2. Renewable Energy - The increasing use of renewable energy by L'Oreal demonstrates the potential for businesses to reduce their environmental impact and transition to sustainable energy sources.
3. Product Assessment Tools - L'Oreal's upcoming product assessment tool opens up possibilities for businesses to provide consumers with transparent information about the environmental impact of their products.
Industry Implications
1. Cosmetics - The cosmetics industry can embrace carbon balancing and renewable energy to reduce their environmental impact and promote sustainability in their products.
2. Renewable Energy - The renewable energy industry can benefit from L'Oreal's commitment to increasing their use of renewable energy, creating opportunities for collaboration and growth in the sector.
3. Sustainable Consumer Goods - L'Oreal's product assessment tool highlights the potential for the sustainable consumer goods industry to provide consumers with eco-friendly options and promote transparency in product manufacturing.