The main ways the L’Oreal Group addressed sustainability concerns commitment is through the “Planetary Boundaries” definition, meaning what the planet can withstand that’s defined by environmental science. The company understands preservation is important to the planet (L’Oreal, 2020).
The main sustainable practices the company identified as priorities were fighting climate change and managing water sustainability. The main business risks the company is taking to prioritize these sustainable practices are spending more money to make sure their products are renovated and improved for a better environmental profile. Also using funds to help poor and disadvantaged people find jobs through inclusion programs.
I think these risks the business is taking to identify sustainable operations seem logical. It seems like the business is really trying to “talk the talk” and attempt to make the world a better place. People can see through the nonsense when these businesses say they’re going to do something when they don’t. L’Oreal maps out their plans in detail and it makes perfect sense.
What are the potential repercussions of not taking risks to prioritize sustainability? Examples include the following:
- Provide examples of organizations that experienced the repercussions of not prioritizing sustainability.
- Reflect on how you or people you know might react to organizations and products that don’t prioritize sustainability from a consumer perspective. Consider how age, geographic location, and finances might affect consumers’ reactions.
- Name some specific impacts of not remaining competitive in the market based on what you learned from your reading in the Resources section.
- Provide other reasons to justify prioritizing organizational sustainability.