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.