L’Oreal is taking a big step toward creating a circular economy with an agreement to purchase PET resin made of 100% recycled materials for its packaging needs for the next several years.
The French personal care company has signed a multi-year agreement with Loop Industries for the resin. Loop says that its low-energy technology depolymerizes waste PET plastic and polyester fiber and turns it into virgin-quality PET resin.
Efforts like this have helped L’Oreal earn a spot on the “A list” for environmental issues assessed by CDP; the company recently earned an A in the areas of climate change, water security and forests, the company says.
L’Oreal’s chairman and CEO Jean-Paul Agon says the company will continue to pursue efforts to reduce its environmental impact “according to what scientific experts demand, and what our planet needs.”
Personal care brands are increasingly focusing on improving the sustainability of their packaging. Procter & Gamble, for example, recently signed a five-year contract to purchase recycled plastic from a supplier the UK, while Kimberly-Clark plans to eliminate plastic from its wipes sold in the UK.