Jean-Paul Agon, Chairman and Chief Executive Officer, declared: "This 6th recognition makes us all very proud because it is the result of each employee's commitment on a daily basis. For us, ethics is an essential duty. A strong culture of integrity is a competitive advantage for a company, bringing long-term value."
Emmanuel Lulin, Senior Vice-President and Chief Ethics Officer, said: "We are particularly happy to receive this recognition by Ethisphere, because ethical questions are rarely simple; our strength is to have the courage to address them and listen to them so that L'Oréal continues to inspire trust. In a world which has never changed so rapidly, the launch of a new edition of our Code of Ethics improves our practices by adapting our values and ethical principles to the new challenges of our times."
"The World's Most Ethical Companies embrace the correlation between ethical business practice and improved company performance. These companies use ethics as a means to further define their industry leadership and understand that creating an ethical culture and earning the World's Most Ethical Companies recognition involves more than just an outward facing message or a handful of senior executives saying the right thing," said Timothy Erblich, Ethisphere's Chief Executive Officer. "Earning this recognition involves the collective action of a global workforce from the top down. We congratulate everyone at L'Oréal for this extraordinary achievement."
The World's Most Ethical Company assessment is based upon the Ethisphere Institute's Ethics QuotientTM (EQ) framework developed over years of research to provide a means to assess an organization's performance in an objective, consistent and standardized way.
Scores are generated in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%).