OUR COMMITMENT TO SUSTAINABLE DEVELOPMENT

OUR COMMITMENT TO
SUSTAINABLE DEVELOPMENT

52,403
employees
114.5
billion in consolidated sales
19
global brands
1496
million in R&D investments
42
factories
130
countries
4.4
billion units manufactured annually
Ms. Balanda Atis, Development
Scientist, L'Oréal USA Research &
Development laboratory in Clark,
New Jersey.

PROFILE
What is L’Oréal?
L’Oréal is the global leader in cosmetics, with 19 global brands. We
have five key expertises –hair care, hair colour, skincare, make-up and
fragrances.
What is this Report?
This Report is a concise summary of our more detailed 2005
Sustainable Development Report, which was published in June 2006.
We hope this shorter, simpler version will be more suitable for
employees, students and consumers. The full 64 page report can be
found both on our website and in hard copy. Both reports cover all of
L’Oréal’s operations and the joint venture with Galderma over the year
January-December 2005.
� PLEASE GET IN TOUCH!
If you have any ideas, questions, feedback, or would like
to request a copy of the full version, please contact:
sustainabledevelopment@loreal.com

Our commitment to
sustainable growth
This document is a summary of our detailed
Sustainable Development Report, which we published
in June 2006. If you find any of the issues raised
in this document interesting, we encourage you
to go to the full report and find out more there
www.loreal.com, in the Our Company section. If you
have any ideas of how we can improve our sustainability
performance, or have any questions, please get
in touch with our sustainability team, at:
sustainabledevelopment@loreal.com
Our commitment to sustainable development_L’ORÉAL
Jean-Paul Agon and Sir Lindsay Owen-Jones.
Our growth must be based on a foundation of values
shared by all within L’Oréal, on firm ethical standards,
and a sincere awareness of our responsibility.
We also demand respect for all people the company
is in contact with, as well as the environment and
the wider community.
The very meaning of this business is to celebrate
diversity. L’Oreal has made the universal dream of
beauty a mode of individual expression that each

woman and each man can make their own, expressing
all of their differences. We deeply believe that a
company cannot fully integrate differences unless its
teams are equally diverse. This diversity, more than
any kind of homogeneity, makes us more creative,
more imaginative and more dynamic.
ACHIEVEMENTS
We are proud of our environmental and social achievements
this year:
■ we won awards from the Anti-Defamation League
and the World Diversity Leadership Council for our
actions to promote diversity;
■ we developed a methodology to assess our ingredients
against a set of 25 sustainability criteria,
including social, environmental and biodiversity
impacts, and fair trade principles;
■ we strengthened our management of diversity by
appointing a Worlwide Diversity Manager, and diversifying
recruitment sources;
■ we continued our strong SHE performance, in particular
reducing our injury rate by 21%, an absolute
reduction in our water consumption, and increasing
the proportion of waste that is returned to suppliers
for re-use from 15% to 23%;
02 l 03
■ the launch in partnership with UNESCO of
'Hairdressers of the World Against AIDS', a prevention
education programme;
■ the acquisition of SkinEthic in early 2006 which
manufactures reconstructed human skin, to further
strengthen our expertise in alternatives to animal
testing;
■ membership of the FTSE4Good, Ethibel and ASPI
sustainability indices.
Becoming a sustainable company is a long journey.
We are both equally passionate about this. But we
can’t do it without the support and enthusiasm
of our employees and other stakeholders. If you have
any suggestions on how we can make this company
more environmentally friendly or socially responsible,
please let us know. We look forward to hearing
from you.
“ WE WOULD VERY MUCH LIKE TO SHARE WITH YOU THE VALUES
WE HAVE FORGED TOGETHER OVER CLOSE TO A CENTURY
OF RESPONSIBLE AND SUSTAINABLE GROWTH, AND HOW WE
ARE PUTTING THESE VALUES INTO PRACTICE. ”
SIR LINDSAY OWEN-JONES
Chairman
JEAN-PAUL AGON
Chief Executive Officer

ECONOMIC AFFAIRS
As an international business, L’Oréal is committed to growth that creates more value
for more people with a stake in our success. The values that underpin our core business
will be crucial as we grow further.
L’Oréal is committed to creating value. In 2005, we
injected E8.3 billion into the global economy in the
form of goods purchased, employee salaries, tax
paid, interest to banks, dividends to shareholders
and community giving.
VALUE CREATION in e millions
2,852
Total payroll and benefits
659
Distribution to shareholders
17
Donations to community,
charity and civil society
Our commitment to sustainable development_L’ORÉAL
A GROWING MARKET
Since 1990, the world cosmetics market has been
growing at twice the rate of the annual global average
GNP. It is still growing even in developed countries,
thanks to new demands and new markets, but
the growth of the cosmetics market is especially
important in the emerging countries where the correlation
between economic development and
consumption of cosmetics is strong.
A SUSTAINABLE GROWTH STRATEGY
L’Oréal considers internal growth to be the main
focus of its development. The group ensures healthy
long-term geographic and sector-based balance for
its brands and increases the rate of its international
expansion through a highly selective acquisition

WORLDWIDE COSMETICS
MARKET 1991-2005
$ billions
120
100
80
60
40
20
0
63.4
1991
74.1
1995
95.9
2000
116.7
2005
policy. As a result, L’Oréal has enjoyed double-digit
growth in earnings for many years. L’Oréal looks to
the growth of new markets, especially in developing
regions such as in Asia, Eastern Europe and Latin
America.
However, the group’s growth is never at the expense
of a responsible attitude: by manufacturing locally as
soon as practical, we contribute to local economic
development, applying the principles outlined in our
Code of Business Ethics. This code can be found on
our website www.loreal.com
COSMETICS BRANCH:
2005 CONSOLIDATED SALES
By business segment
By Division
By geographic zone
04 l 05
■ 24.7% Haircare
■ 21.2% Make-up
■ 16.6%
Hair colourants
■ 24.2%
Skincare
■ 10.3%
Perfumes
■ 3.0%
Other
■ 14.5%
Professional Products
■ 52.8%
Consumer Products
■ 25.2%
Luxury Products
■ 6.9%
Active Cosmetics
■ 47.4%
Western Europe
■ 27.2%
North America
■ 25.4%
Rest of the World

RESEARCH & DEVELOPMENT
L’Oréal has a strong and historic commitment to research and development.
R&D drives our business so that we provide an ever-expanding range of high
quality, effective products for consumers.
PRINCIPLES IN PRACTICE
We are deeply committed to the health of our consumers
and employees, as well as to the environment.
We aim at all times to:
■ guarantee the safety of ingredients and safe handling
procedures for our raw materials;
■ assess the human and environmental safety of our
raw materials and formulas throughout the production
process, from design to manufacture;
■ increase the proportion of renewable plant-based
raw materials that we use;
■ protect biodiversity;
■ carry out life cycle assessments of our common raw
materials;
■ assist our suppliers in integrating sustainable development
issues;
■ ensure that our purchase of raw materials supports
local employment and development;
Our commitment to sustainable development_L’ORÉAL
■ guarantee local populations’ access to the source raw
materials, recognise their ancestral know-how and
take into account a fair return for these populations;
■ consult with stakeholders, particularly community
representatives.
The R&D Department has a Sustainable Development
working group to make sure these commitments are
delivered. We have a Green Chemistry manager whose
job it is to make sure our ingredients are made in an
environmentally-friendly way. Eight part-time Green
Chemistry roles have also been created.
� DID YOU KNOW?
Around 40% of raw materials used by L’Oréal are of
plant origin and therefore renewable. We are working
to increase this. We also seek to develop ingredients
of low ecotoxicity or that are biodegradable.

PRODUCT DEVELOPMENT
L’Oréal is continually trying to cater more efficiently for
people of diverse racial backgrounds. As part of the
process of developing new products, we therefore
study various skin and hair types from different parts
of the world.
L’Oréal R&D is also opening up to a better understanding
of the emerging issues and processes
surrounding the relationship to the body through a
series of researches in social sciences.
ALTERNATIVE TESTING METHODS
In 1989 we ended all animal testing of finished products
prior to their release on to the market. However,
new chemical ingredients must be tested on animals
by law where there is no other approved method.
L’Oréal supports the 3R Rule –Refine, Reduce,
Replace. We are committed to:
06 l 07
■ avoiding animal suffering and improve the comfort
levels of these tests;
■ reducing the number of animal tests;
■ replacing animal tests with new testing methods so
as to meet the 2009 and 2013 deadlines of the
European Cosmetic Directive.
For the past 15 years we have invested heavily in finding
alternatives to animal testing. In particular, we
invested in Episkin and in SkinEthic –companies which
produce reconstructed human skin, thus eliminating
the need for many of the tests.
The L'Oréal Research Institute for Ethnic Hair and Skin in Chicago analyses how hair and skin change with ethnicity.

2 903
cosmetics and dermatological
research employees
including 50% of Galderma research employees
ASSESSING THE ENVIRONMENTAL AND
SOCIAL IMPACT OF INGREDIENTS
In 2005 L’Oréal added 25 environmental, social and
ethical criteria to our system of assessing new ingredients.
In the future, all our ingredients will be assessed
on whether our use of them preserves biodiversity,
promotes fair trade, and has positive social
impacts. These are backed by research. If this shows
that by buying a certain ingredient, we are contributing
to deforestation, abuse of human rights or that local
communities are not benefiting appropriately, we will
take steps to resolve the issue.
This sustainability assessment system is currently
being piloted with eight suppliers and we are expecting
to conclude the pilot by the end of 2006 and start
general deployment in 2007.
EXAMPLE OF THE ASSESSMENT OF
ONE OF OUR RAW MATERIALS
■ 100%
Preserve health and safety of people
■ 71%
Preserve health and safety
of the environment
■ 87%
●
Protect biodiversity
■ 85%
Promote fair trade practices
■ 100%
Consider social
and societal impacts
529 patents filed in 2005
Our commitment to sustainable development_L’ORÉAL
●
●
●
●
Promoting Fair Trade Practices
L’Oréal R&D is also working to extend partnerships
with suppliers in order to share good
practices and develop an effective sustainable
development policy throughout the entire chain.

CONSUMER SAFETY
The safe use of our products by consumers is our
highest priority. For many years L’Oréal has applied
very strict rules regarding the safety of ingredients. We
keenly monitor all scientific research, and if scientific
evidence were to show an ingredient to be harmful, we
Nanotechnology
This is a new technique we use to observe particles
on a nanometric scale, which is a much
smaller scale than we have been able to before.
We use this new capability in three main ways:
■ to examine the properties of skin and hair in
even more detail;
■ to create really small ‘nano-emulsions’ of very
fine droplets, which give products such as
creams different textures;
■ to improve products, for example sunscreen
where smaller particles filter UV rays more efficiently.
Independent research has shown that nanoemulsions
are harmless and that there is no
penetration of nano-pigments (e.g. titanium
08 l 09
would remove it from our products. More precisely,
our position on ingredients such as phthalates, musks,
triclosan or parabens, and our reduction, replacement
or substitution programs are detailed in our
Sustainable Development report, p.24-27.
By enlarging objects 10,000 times, these electronic microscopes are used
to explore and understand the inner structure of the hair and skin.
dioxide) into skin. Beyond these practical applications,
the development of nanotechnology raises
new questions, as for all major innovations,
about the available scientific knowledge, ethical
issues and potential applications.
L’Oréal is involved in several French and international
programmes including the International
Council on Nanotechnology and the Center for
Biological & Environmental Nanotechnology,
Houston, and is working closely with academics
and institutions such as the European Union
Scientific Committee on Consumer Products, the
Working Group on Nanosubstances in Cosmetics,
and the CNRS-French Scientific Research Centre
Ethics Committee.

SOCIAL AFFAIRS
L’Oréal believes that employee development is a fundamental driver of economic
performance. We therefore aim to be one of the world’s best employers in terms
of overall appeal, pay, promotion, training, profit sharing and job satisfaction.
DIVERSITY
Diversity lies at the core of what we do. Because we
believe that differences are a source of enrichment
and creativity, we try to make diversity a key element
of our human resources policy. Our Code of Ethics,
which is available on our website, states that at
L’Oréal, all forms of discrimination concerning gender,
age, disability, race, religious or political beliefs
and many other issues, are unacceptable.
To promote diversity, we:
■ signed up to the Diversity Charter in France, along
with 200 other companies, as a public commitment
to promoting cultural, ethnic and social diversity
within L’Oréal;
■ created the position of Diversity Manager whose
job it is to improve diversity throughout the company;
Our commitment to sustainable development_L’ORÉAL
■ trained over one thousand managers worldwide
on diversity issues.
� DID YOU KNOW?
■ 53% of managers at L’Oréal are women.
■ 33% of the staff on management boards are women,
■ in the US, 42% of the workforce in R&D are from
minorities.
■ There are 104 different nationalities among managerial
staff.
RECRUITMENT
Attracting talented people is vital to support our
growth worldwide. In 2005, we received 515,500 job
applications, carried out 45,300 interviews, and recruited
2,027 managers from 75 different nationalities!

� DID YOU KNOW?
L’Oréal is consistently rated one of the best
companies in the world to work for…
■ We were voted the second most desired company
to work for in a survey by the Universum Institute of
5,373 European students.
■ We were voted the second best at developing talent
in the ‘Companies for Leaders in Europe’ survey of
101 companies.
■ In France, out of the 50 companies assessed using a
questionnaire mainly filled out by the employees themselves,
L’Oréal was ranked in fourth position of the companies
that are great to work for. L’Oréal was also both the first
French and first manufacturing company in the ranking.
Skills development
We aim to offer all our employees high quality training
and tailored career development. In 2005, 62% of
managers and 58% of all employees received training.
In France we also took on 566 apprentices as
part of this commitment.
Rewarding employees
L’Oréal tries to offer employees and their families the
best reward packages and benefits possible. Our pay
is designed to be highly competitive to attract and
retain talented individuals. Since 2001 we have been
rolling out a Worldwide Profit Sharing Plan, so that
all employees can benefit from our success. In 2006
through this scheme employees in almost all countries
that meet their targets will be given the equivalent
of an additional 3-3 1/2 weeks salary.
Promoting social dialogue
We believe that strong social dialog between management,
employees and unions is vital for a healthy company.
Over 24,000 employees are covered by our European
social dialogue body, the Instance Europeénne de
Dialogue Social (IEDS). In France, there are 91 bodies with
over a thousand representatives to ensure partnership
between management and employees reprensentatives.
10 l 11
Suppliers
It is very important to us that all our suppliers maintain
good labour standards in their operations. We do
not want anything we sell to have been made in factories
with poor conditions, wages, or child labour. To
make sure this doesn’t happen, we send independent
specialists, Bureau Veritas and Intertek, to carry out
audits of the factories that we buy from. To date,
more than 152 audits have been carried out.
Where we find evidence of violations of these standards,
we require suppliers to improve the situation,
and our independent auditors then go back and check
that this has been done. We believe it is better to work
in this way to help improve labour standards, but in
the few cases where suppliers have consistently poor
standards, we will cease to buy from them.
We are now introducing guidelines for our buyers to
make sure they understand these issues, and will
only give new business to suppliers who have been
audited and who comply with our standards.
More than 152 audits have been carried out.

SAFETY, HEALTH &
ENVIRONMENT (SH&E)
L’Oréal is passionate about improving the group’s performance on safety, health and
environment. Our constant aim is to reduce our impacts on the environment and reduce
the number and severity of accidents.
OUR PERFORMANCE
In 2005, at our 42 factories and 75 warehouses around the world, we:
■ cut our total energy use by 1% per finished product;
■ cut our water use by 4% per finished product;
■ reduced our overall injury rate by 21% for L'Oréal employees,
and by 36% for temporary employees;
■ certified all but two of our factories to ISO 14001, an internationallyrecognised
environmental management system.
TOTAL ENERGY USED IN 2005
836 million of kWh
LOST TIME INJURY RATE
-3.1%
Unfortunately we did not meet our target to reduce the amount of waste
generated per finished product. We also had an injury rate above our target of
2.5 million hours worked in 19 of 42 factories and 20 of 75 warehouses. We
are working hard to remedy these shortfalls.
Our commitment to sustainable development_L’ORÉAL
WATER CONSUMPTION
3,214,000 M 3
DIRECT CO 2 EMISSIONS
92.7 thousand tonnes
� OUR TARGETS FOR 2006
This year we aim to:
■ cut energy use by a further
5% per finished product;
■ reduce our direct carbon
dioxide (CO 2) emissions by
2% per finished product;
■ cut water use by 10% per
unit of finished product from
2002 levels;
■ reduce waste generated
per finished product by 5%;
■ reduce our injury rate by
a further 24% to 2.5 injuries
per million hours worked.

How is SH&E managed?
Overall responsibility for safety, health and environment
issues at L’Oreal rests with Marcel Lafforgue,
Executive VP Production and Technology. Reporting
to him, Zack Mansdorf runs the SH&E department
with the help of SH&E managers within zones, divisions
and at sites. A typical factory of 350 workers
has three or four full-time staff in its SH&E department,
while administrative sites usually have one
person with this responsibility at country level.
Climate change
L’Oréal is working to reduce our energy consumption,
as this makes sense financially as well as environmentally.
Our greenhouse gas emissions are mainly CO 2 from
the use of fossil fuels for the generation of steam in
factories and for heating the group’s buildings. In
addition, CO 2 is indirectly generated through our
electricity use and by the transportation of our products.
Of the energy we use in our factories and
warehouses, 49% comes from electricity, 45% from
gas and only 6% from oil. We use gas where possible
since it is a cleaner fuel than oil. We are also
continually looking out for less polluting transport
solutions, such moving transport from road to rail.
To achieve our target of a 5% cut in energy use per
finished product this year, we are investigating many
different new technologies –some that reduce our
energy use and some that generate energy from
renewable sources such as wind and solar power.
For example, our Clark factory in the United States
has committed itself to sourcing 3% of its energy
from wind power, saving 186 tonnes of greenhouse
gases as a result.
Packaging
Since the 1990s, L’Oréal has had a proactive policy to
ensure that our packaging has minimal impact on
the environment. When designing product packaging,
we try to:
12 l 13
■ reduce the amount of raw material used;
■ facilitate recycling by:
- reducing the variety of materials involved;
- labelling products with details of the components
and their recyclability;
■ continually involve our packaging suppliers in our
efforts.
� DID YOU KNOW?
L’Oréal has an ambitious goal to send zero waste to
landfill from our factories and warehouses. In 2005,
38% of our sites achieved this target. We did this by
recycling 35% of our waste, re-using 33%, and incinerating
21% to generate heat.
SH&E Awards
The L’Oréal SH&E awards are in-house prizes
designed to motivate employees to improve
risk management and contribute to environmental
protection. The aim is to foster continual
improvement and encourage initiative and
consistency.
In 2005 the winners were:
■ SH&E excellence, best performance beyond
our stated SH&E goals (factories and distribution
centres): Karlsruhe factory, Germany.
■ The best safety and health initiative (factories):
Soprocos Saint-Quentin, France.
■ The best environmental initiative (factories):
Ville Saint-Laurent, Canada.
■ The best safety, health or environment initiative
(distribution centres and office buildings):
San Agustin distribution centre, Spain.
■ The best community involvement (any site):
Suzhou, Pudong and Yichang factories, China.
These three factories are sited on the heavily
industrialised Yangtze river, and set up an initiative
to raise awareness among local
schoolchildren of environmental problems
and conservation of biodiversity, the white
dolphin in particular. Around 6,500 children
participated in the ‘Save Mother River and
Save the White Dolphins’ initiative.

COMMUNITY AFFAIRS
In every country where we do business, we support charities and projects that
contribute to the community at large through philanthropy and long-term
partnerships.
FOR WOMEN IN SCIENCE
� DID YOU KNOW?
■ In 2004, of the 190 members of the French
Academy of Sciences, only 14 were women.
■ From 1903 to 2004, only 12 out of 503 Nobel
Prizes for Science were awarded to women.
■ 55% of scientists at L’Oréal are women, a proportion
unmatched in our industry.
Because we know that women today are underrepresented
at the highest levels of science, and
convinced that women researchers can influence the
science of tomorrow, L’Oréal and Unesco joined forces
in 1998 to promote women in scientific research
by creating the For Women in Science programme,
which has three parts:
Our commitment to sustainable development_L’ORÉAL
■ the L’Oréal-Unesco Awards –each year, five outstanding
female research scientists around the world are
given a personal award of $100,000. We give the awards
for research in areas not related to L’Oréal’s activities;
■ the Unesco-L’Oréal Fellowships –since this scheme
started, 75 five young female scientists have been
given awards of up to $20,000 each to pursue research
in laboratories outside their country of origin;
■ national Fellowship programmes –operating in 14
countries in 2005, including China, India, Poland and
South Africa, we aim to launch National Fellowships
in 50 countries by 2008.
“ WHEN YOU EDUCATE A MAN, YOU EDUCATE
A PERSON. WHEN YOU EDUCATE A WOMAN,
YOU EDUCATE A FAMILY, A NATION. ”
An African proverb quoted by Unesco
on its 50th anniversary.

Working with local communities
Because L’Oréal’s business is at the centre of
people’s everyday lives and well-being, we are closely
involved in the life of the communities in which
our facilities are located. Our local operations are
given the freedom to adapt to specific local environments
and choose the projects they feel most
strongly about.
AIDS prevention
In May 2005, UNESCO and our Professional Products
Division launched the prevention education programme
“Hairdressers of the world against AIDS”.
This programme promotes awareness of the HIV
virus through the regular training we provide to our
global network of hairdressers. These hairdressers
then pass on their knowledge to customers at their
salons, which are centres for the exchange of ideas
and dialogue all over the world. Training materials
compiled with UNESCO include an innovative film,
presentation materials and an interactive quiz.
Our efforts to combat HIV/AIDS began four years ago
in South Africa. Pilot programmes adapted for the
culture of each country have since been launched in
India, Brazil and France. In 2006 we plan to expand
the programme into the Baltic countries, the United
Kingdom, China, Italy, Germany, Spain, Belgium, the
Netherlands and Portugal. For more details, consult:
www.hairdressersagainstaids.com
Look Good… Feel Better
“Look Good… Feel Better” is a joint programme of the
cosmetic industry that started in the United States
and has now reached 15 other countries, which helps
women offset appearance-related changes from cancer
treatment. The programme consists of non-medical
workshops held in hospitals, which teach the
women to cope with some of the side effects of
chemotherapy through a 12-step skin-care and
make-up lesson. L’Oréal is one of the main drivers
behind this worthy venture, notably in France where
the programme is called “La Vie de plus belle”.
14 l 15
Restaurants du Coeur
For the past seven years, we have been providing the
French charitable organisation “Restaurants du
Coeur” with kits containing five of the group’s
hygiene products covering basic family needs. They
are handed out during the association’s winter campaign
right across France.
Supporting the Nicolas Hulot Foundation
In 1995 L’Oréal became a founder member of the
Nicolas Hulot Foundation for Nature and Mankind,
and has supported it ever since. The Foundation’s
mission is helping educate the public to be environmentally
friendly.
Staff volunteers for Planète Urgence
In 2005 we set up a partnership with Planète
Urgence, a French organisation which sends volunteers
overseas to participate in various projects to
help local people in their development efforts or to
work on environmental protection programmes. Two
of our staff volunteered to work in Mali in 2005, and
a formal pilot is commencing in 2006 with a further
eight staff volunteers.
Hairdressers of the world against AIDS (China)

GOVERNANCE & ETHICS
At L’Oréal we believe that lasting business success is built on ethical standards which
guide growth and on a genuine sense of responsibility to the community at large.
The L’Oréal Code of Business Ethics sets out our
values and guiding principles in more detail. It focuses
on six areas:
■ respect for the law;
■ respect for the individual;
■ respect for the consumer;
■ respect for the environment;
■ partnership with customers, distributors
and suppliers;
■ principles of loyalty and integrity.
Every new employee is given a personal copy, and it
is available in 26 languages. We expect all employees
to not only respect local law, but to comply with
the standards in our Code, whatever the role or business,
or wherever in the world they operate.
Employees who have concerns relating to the Code
are encouraged to contact their line management or
Human Resources Department. All concerns are
carefully examined, and we guarantee that there will
be no retaliation for those who have in good faith
raised a concern.
In 2005 we launched a reporting system to monitor
the implementation of the Code of Business Ethics,
spread best practice and identify areas where improvements
are needed.
Our commitment to sustainable development_L’ORÉAL
L’Oréal has been a signatory of the United Nation’s
Global Compact since June 2003, which means that
we support a set of core values in the areas of
human rights, labour standards, environment and
anti-corruption. We also require our suppliers to
abide by the International Labour Organisation’s
Declaration on Fundamental Principles and Rights
at Work.
HOW IS SUSTAINABLE DEVELOPMENT
MANAGED AT L’ORÉAL?
L’Oréal’s progress on sustainability is driven by a
Sustainable Development Steering Committee made
up of managers from the different Divisions of the
company and chaired by Pierre Simoncelli, the
Director of Sustainable Development. This Steering
Committee reports to the Executive Committee for
Sustainable Development, made up of the five functional
Executive Vice-Presidents and chaired by the
Chief Executive Officer of L’Oréal, Jean-Paul Agon;
this Executive Committee is responsible for overall
sustainability strategy and implementation..
EXTERNAL RATING
L’Oréal’s progress on sustainable development has
been recognised by others: we are members of the
FTSE4Good, ASPI Eurozone and Ethibel sustainability
indices. In September 2006 we re-entered the
Dow Jones Sustainability Index.

Published by the Corporate Communications and External
Affairs Division of L’Oréal group. Photographs: David Arraez,
Léonardo Aversa/Gamma, Carole Bellaïche, Alain Buu, Bruce
Coleman/Stock Image, Community Energy, Inc.,
JF Deroubaix, Jillian Edelstein, idé, Hélène Kerhervé/Gamma,
L’Oréal Recherche, Craig Marais, Johan Minaar/Status Studio,
Sayah Msadek, Micheline Pelletier/Gamma, Alain Pérus &
Myli Bourigault/L’OEil de Diaph, Kitti Sirichaiwat, Eric
Vandeville/Gamma, Manuel Vasquez/C Producers Gamma, X.
Design:
133, avenue des Champs-Elysées
75008 Paris – France
This mark aims to certify the origin of papermaking
fibres from integrated and sustainable
forestry operations where controlled felling and
replanting policies are enacted.
The Selected Secondary Fibers mark certifies
the use of recycled (secondary) pulp fibres
originating from selected materials to ensure
high quality raw materials which are free of
impurities and mechanically sound.

Incorporated in France as a “Société Anonyme”
with registered capital of €131,753,932
632 012 100 R.C.S. Paris
Headquarters:
41, rue Martre
92117 Clichy - France
Tel.: +33 1 47 56 70 00
Fax: +33 1 47 56 75 01
Registered Office:
14, rue Royale
75008 Paris - France
www.loreal.com