L’Oréal has published its first ‘Palm Oil Progress’, an assessment of the cosmetics firm’s progress towards achieving total sustainability in its use of the resource.
The company says that it “uses less than 400 tons of palm oil per year but purchases derivatives in a quantity equivalent to 60,000 tons of palm oil. L’Oréal’s consumption remains low, representing 0.1% of worldwide palm production.
“Nevertheless the Group wants to be among the most responsible companies in the world and to lead by example on the issue of sustainable palm oil sourcing.”
Outlining the multinational’s expectations and goals for its palm oil supply chain, its chief sustainability officer, Alexandra Palt, said that “By end of 2016, L’Oréal will have achieved 100% traceability, a first step to ensure compliance to Zero Deforestation among the concerned suppliers.”
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.