CLICHY, France—Cosmetic leader L'Oreal was recognized for the third by the Ethisphere Institute, a business ethics think-tank, as one of its 2012 World's Most Ethical Companies.
"L'Oreal is honored to be once again nominated as one of the 'World's Most Ethical Companies,'" said Emmanuel Lulin, Group Director of Ethics at L'Oreal. "It is a wonderful recognition of the level of commitment of our employees worldwide. This award reinforces our conviction that long-term business success is built on high ethical standards and a genuine engagement with the community at large. A company with strong values is a company you can trust and trust is the biggest asset a company can have."
Published each year since 2007, the methodology for the WME ranking includes reviewing codes of ethics, litigation and regulatory infraction histories; evaluating the investment in innovation and sustainable business practices; looking at activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.
"A strong ethical foundation is a competitive advantage, and L'Oreal recognizes the important role corporate responsibility plays in improving its bottom line," said Alex Brigham, executive director of the Ethisphere Institute. "As more organizations strive for this honor each year, L'Oreal's inclusion as a World's Most Ethical Company for 2012 demonstrates its industry-leading commitment to ethics and dedication to integrity."
Ethics at L'Oreal
L'Oreal's ethics program is proactive and supports the Group's growth. In 2000, L'Oreal was one of the first companies in France to establish a Code of Business Ethics and to appoint, in 2007, a dedicated Group Director of Ethics. In 2008, L'Oreal CEO Jean-Paul Agon received the prestigious Stanley C. Pace Leadership in Ethics Award. L'Oreal is a signatory of the UN Global Compact since 2003.
