L'Oréal has been recognized by the Ethisphere Institute, a world leader in defining and promoting ethical business standards, as one of the "World's Most Ethical Companies" (2016 World's Most Ethical Company).
This recognition is awarded to companies that act in accordance with their principles, work tirelessly to make trust a key component of their corporate DNA, and shape the future standards of their industry by adopting tomorrow's best practices today.
Winning the award for the 7th time demonstrates L'Oréal's commitment to high ethical standards.
Jean-Paul Agon, Chairman and CEO, commented: " We are honored to have been selected by Ethisphere, and this award is a source of pride for all L'Oréal employees. Over the past 10 years, we've seen growing expectations for responsible corporate behavior. Over the next 10 years, Ethics will be an essential element of the right to operate, not just an optional extra. Ethics will be a decisive competitive advantage for companies pioneering this field. "
Emmanuel Lulin, Director General of Ethics and Chairman's delegate, commented: " This seventh recognition reinforces our belief that a company with a strong culture of integrity is far more valuable. L'Oréal's four Ethical Principles - Integrity, Respect, Courage and Transparency - help us to make better decisions and meet the ethical challenges of today and tomorrow. "
" Companies rely on Ethisphere to continuously raise and measure standards of corporate behavior. Those at the forefront of corporate citizenship, integrity and transparency create more value for their investors, the communities in which they operate, their customers and their employees, reinforcing a sustainable business advantage.explains Timothy Erblich, President and CEO of Ethisphere. We congratulate all L'Oréal employees on this award. "
The "World's Most Ethical Companies" assessment is based on the Ethisphere Institute's Ethics Quotient™ (EQ), developed after several years of research, verified and refined with the help of the Expert Council. This quotient provides an objective, consistent and standardized quantitative assessment of corporate performance. The information gathered offers a comprehensive sampling of benchmark criteria relating to core competencies, rather than all aspects of corporate governance, risk management, sustainable development, compliance and ethics.
Scores are awarded in five key categories: ethics and compliance (35 %), social and corporate responsibility (20 %), ethical culture (20 %), governance (15 %) and leadership, innovation and reputation (10 %), and are communicated to each of the companies taking part in the process.
[https://www.loreal.com/group/governance/acting-ethically.aspx]
