Today’s ESG Updates
- L’Oreal Announces Reaching 100% Renewable Energy in Europe: All L’Oreal European operations are now powered by renewable energy.
- KPMG Reports that 78% of Global Companies Link Executive Pay to Sustainability: Sustainability metrics are integrated into board level salaries amongst major global companies.
- Carbon Clean and Partners Set to Decarbonise Heavy Industries: The carbon capture expert joins forces with Danish heating companies.
- Intertek Launches Solution Aiding Compliance with EU Deforestation Regulation: The quality assurance and certification provider announces new tool aimed at dealing with EU deforestation regulation.
L’Oréal announces reaching 100% renewable energy in Europe
L’Oréal, the world’s largest cosmetics company, announced that it has reached 100% renewable energy for its European operations as of December 2024. These operations include factories, distribution centres and offices. This announcement is a huge achievement and a positive sign that the beauty giant is one step closer to reaching its key sustainability goals under the “L’Oréal for the future” initiative. Under this initiative, the company aims to reach carbon neutrality and 100% renewable energy used at all sites by 2025. This announcement is also important on a global scale as European operations account for a significant portion of L’Oréal’s footprint where 19 of the factories are in Europe and 11 in France. For companies looking to stay on track with ESG regulations, see ESG tools.
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Further reading: L’Oreal Reaches 100% Renewable Energy in Europe
KPMG reports that 78% of global companies link executive pay to sustainability
According to a recent KPMG report, 78% of major global companies now integrate sustainability metrics into board level pay salaries. 88% align ESG targets in pay to material sustainability topics. 37% include ESG metrics in both short-term and long-term incentives with EU firms taking the lead in long term integration. By tying executive compensation to sustainability, this not only importantly ties into governance but also aids to driving long term value. Strong alignment between pay and ESG performance can also demonstrate a more disciplined approach to governance.
Photo Credit: Sven Piper
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Further reading: 78% of Global Companies Now Link Executive Pay to Sustainability, KPMG Study Finds
Carbon Clean and Partners set to decarbonise heavy industries
Carbon Clean, the carbon capture expert has joined forces with two leading Danish district heating companies in order to explore carbon capture opportunities. The companies Sønderborg Varme and Thisted Varmeforsyning will apply for funding from the Danish Energy’s CCS Fund which helps projects to reduce their carbon emissions. This partnership will allow Carbon Clean to integrate its carbon capture technology into Denmark’s energy sector. Through governmental support and the application of these tools, there is a bright future in the decarbonisation of these heavy industries.
Photo Credit: Gonz DDL
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Further Reading: Carbon Clean and Industry Partners to Decarbonise Heavy Industries
Intertek launches solution aiding compliance with EU Deforestation Regulation
Intertek, the quality assurance and certification provider announced the launch of its tools aimed at helping companies to comply with the EU’s new Deforestation Regulation (EUDR). The EUDR was initially introduced in November 2021 by the EU Commission which attempted to ban deforestation linked projects on the EU market. According to the new rules, companies that wish to place relevant products on the EU market must prove that their products were not produced on land that was not subject to deforestation after 2020. One of Intertek’s new tools is a blockchain supply chain mapping tool which aids traceability to meet EUDR standards. For companies wishing to stay in line with updating ESG standards, see ESG tools.
Photo Credit: roya ann miller
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Further reading: Intertek Launches New Solutions Enabling Compliance with EU’s New Deforestation Regulation
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Wikimedia Commons
