Clichy, October 6th 2008
L’Oréal sponsors the first class of the Law and Business Ethics Masters degree, organized by the University of Cergy-Pontoise. This is the first degree of its kind in Europe and comes in addition to L’Oréal’s support of the Law and Business Chair. L’Oréal hopes in this way to make a concrete contribution to the development of business ethics in Europe.
1st Law and Business Ethics Masters degree
Thanks to the L’Oréal Group’s determination and the dynamic University of Cergy-Pontoise, in association with the ESSEC Business School (France), the Institute of Business Ethics (UK) and the Ethics & Compliance Officers Association (USA), the 1st Law and Business Ethics Masters is now a reality. L’Oréal wishes to participate in making ethics an integral part of all corporate functions and contribute to the development of a European school of thought on ethics. In the words of Emmanuel Lulin, L’Oréal’s Director of Ethics and sponsor of the Law and Business Ethics Masters’ Class of 2009: « It is the first diploma of its kind in Europe. Business Ethics is a complex subject which needs to be addressed with humility and determination. The global leaders of tomorrow are those companies who have integrated ethics into their strategic planning but also their every-day business practices.»
At the same time, L’Oréal supports the development of the Law and Business Ethics Chair, created in July 2007, and which aims to encourage corporate responsibility.
L’Oréal and ethics : an ongoing commitment
L’Oréal has been built around fundamental values such as respect, integrity and excellence, which have shaped its culture and underpin its reputation. By demonstrating high ethical standards, L’Oréal hopes to earn and retain the trust and respect of its employees, consumers, customers, suppliers and shareholders. In 2000, L’Oréal was one of the first large French companies to have adopted a Code of Business Ethics. Given L’Oréal’s international presence, a second edition of this Code was launched in 2007, drafted with the help of employees from 22 countries and available in 43 languages. The Code of Business Ethics is the reference document within L’Oréal on ethics and helps employees integrate the Group’s values into their every-day activity. A UN Global compact signatory since 2003, L’Oréal is particularly vigilant concerning the respect of fundamental human rights and has deployed a social and environmental audit program throughout its supply chain.
In 2007, L’Oréal appointed a Director of Ethics, reporting directly to the Group’s Chief Executive Officer. Thanks to an ambitious training program, employees and in particular managers, will be educated on the importance of ethics. Ethics is also taken into account in the appraisal system, via two management competences: “Leads with Human Sensitivity” and “Obtains Results with Integrity”.
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