Alina Oprea • 27 March, 2023 at 2:30 PM
L'Oréal has announced a new investment in the project led by Geno, the biotechnology company, to create sustainable alternatives to key ingredients in cosmetics. L'Oréal will be a founding member, along with Unilever and Kao. The investment, made through BOLD, the venture capital fund of the L'Oréal Group, will contribute to the creation of new sustainable ingredients derived from living organisms. Through Geno's biotechnology expertise, L'Oréal will replace traditional ingredients with organic alternatives, such as those obtained from plant-based sugars. The new ingredients will be used in various L'Oréal brand products, an essential step towards the company's goal of having 100% organic formulas and ingredients derived in proportion to 95% from renewable or abundant sources.
Biotechnology is one of the four Green Sciences disciplines of the L'Oréal Group, which focuses on using living organisms to provide raw materials while respecting biodiversity, natural resources, and aquatic ecosystems. The investment contributes to reducing the environmental footprint of the beauty industry and is an important step towards meeting L'Oréal for the Future commitments for 2030.
"At L'Oréal, we believe that science has the power to create a better world and we are committed to using our expertise to drive positive change in the beauty industry. That is why we have made Green Sciences the cornerstone of our research. We are excited to partner with Geno, whose unique approach to developing alternative, biotechnology-based ingredients aligns perfectly with our vision for a more sustainable future. By working together with other brands in the cosmetics industry, we can leverage our collective expertise and resources where our combined efforts can have a significant impact," said Barbara Lavernos, Deputy Chief Executive Officer responsible for Research, Innovation, and Technology at L'Oréal.
Geno's goal is to reduce global carbon emissions by more than 100 million tons in the coming years.
"Joining L'Oréal in this incredible team of global brands shows how important and urgent the need is for traceable, resilient, and sustainable materials at scale. L'Oréal's commitment further accelerates Geno's goal to reduce global carbon emissions by more than 100 million tonnes in the coming years, targeting large-scale materials markets. We are excited to help L'Oréal achieve its bold 2030 goals of incorporating 95% organic ingredients for formulas and using packaging materials that are traceable and sustainably sourced. We have demonstrated that impact is possible at scale. Geno's technology was developed from the ground up to accelerate the materials transition by providing sustainable ingredients at scale, and this collaboration is poised to do just that for the beauty and personal care industry. This partnership will further accelerate our mission on a global scale, a mission necessary to meet the growing market demand for sustainable products," said Christophe Schilling, Chief Executive Officer, Geno.