L’Oréal launches new sustainability programme; investments in Egypt unaffected by COVID-19

L’Oréal launches new sustainability programme; investments in Egypt unaffected by COVID-19

L'Oréal has launched a new programme promoting sustainability and action on climate change, called "L'Oréal for the future.“

At a virtual press conference on Friday, Jean-Paul Agon, the chairman and CEO of L'Oréal, said the multinational is accelerating its transformation towards a model respecting planetary boundaries and reinforcing its commitments to both sustainability and inclusion.

Addressing a question about the company's investments in Egypt, Agon said that Egypt is an important market for the company's products in the Middle East and North Africa, and that it has a factory operating in the country with total investments of €50 million.

He added that the company's investments and its future plans in the Egyptian market have not been affected by the COVID-19 crisis.

The Egyptian factory represents a leading model of professional efficiency in sustainability, he also said, having reduced consumption of energy by 29 percent, water by 27 percent and waste generated by 32 percent, which qualified the factory to receive the 2016 Sustainable Development Award from the Federation of Egyptian Industries' Environmental Compliance Office.

Alexandra Palt, executive VP and chief corporate responsibility officer, said that the company is contributing to solving the world's challenges by supporting urgent social and environmental