Stakeholders dialogue, a co-construction
Every year, L’Oréal continues its policy of discussing matters with its stakeholders through ad hoc consultation bodies to share its sustainable development strategy and co-build its projects.
In order to share and reinforce its sustainable development strategy, targets and achievements, L’Oréal maintains an ongoing dialogue with all of its stakeholders, meaning all the people with whom the Group interacts, internally or externally: associations, not-for-profit organisations and non-governmental organisations (NGO s), the academic world and the scientific community, consumers, customers, suppliers, employees, shareholders, extra-financial rating agencies and investors.
Ongoing multiform dialogue
To co-build the commitments for 2020 under the Sharing Beauty With All programme, L’Oréal began a dialogue, between 2011 and 2013, with 754 organisations through forums organised in eight countries. These discussions were in some cases continued online. The dialogue has since continued in the form of panels and consultations organised on an ad hoc basis, with regard to various projects.
In 2016, 89 NGO s, associations, not-for profit organisations and experts from the academic world were consulted. For example, in June, L’Oréal organized a day of discussions in Brazil, dedicated to respect for biodiversity. This was attended by researchers, suppliers, representatives of NGOs and the Brazilian public authorities.
Finally, the consumer advisory committee was set up in the autumn of 2016.
In total, over 850 organisations have been consulted since 2011.
An external governance body
In 2014, L’Oréal set up an external governance body, called the Panel of Critical Friends, which meets once a year, together with Jean-Paul Agon, the Group’s Chairman and Chief Executive Officer. Its role is to examine the progress made on the Sharing Beauty With All programme, cast a critical eye over the actions conducted and suggest improvements. Composed of major international personalities and experts on environmental and social issues, this panel met for the third time in October 2016 in New York, USA.