NEW YORK – April 17, 2017 – As part of its 2018 World Changing Ideas Awards, Fast Company magazine named L'Oréal’s Sustainable Product Optimization Tool (SPOT) as a finalist under its “General Excellence” category.
SPOT is a product assessment tool designed to measure the overall impacts – both environmental and social – of all L’Oréal products. Developed with the help of sustainability and life-cycle analysis experts, SPOT is the first-of-its-kind in the beauty industry to assess the overall footprint of a product. The tool provides L’Oréal with a stringent methodology that assesses the environmental as well as social impacts of all its new or renovated products in order to identify avenues for improvement. One hundred percent of new or renovated products – representing more than 2,300 products – were assessed using SPOT in 2017.
“We’re proud that SPOT has been recognized by Fast Company, as this acknowledgement confirms that tools like SPOT have the power to create true change,” said Danielle Azoulay, Head of CSR & Sustainability at L'Oréal USA. “The robustness of SPOT enables us to evaluate our products through an environmental and social lens so we can better understand what changes we need to make to improve the impact of our products on the environment as well as on society. We want to make these assessments accessible to consumers to help them make more informed and more sustainable consumption choices.”
Fast Company’s World Changing Ideas Awards recognizes ideas that have the potential to affect long-term, systemic changes or solve pressing problems. This year’s winners and finalists were determined by a panel of esteemed judges and were chosen based on their feasibility and the potential for impact across 12 categories, from Food to Energy to Developing World Technology.
SPOT is instrumental in measuring the progress of L’Oréal’s global sustainability program, Sharing Beauty With All, which commits that 100 percent of the company’s products will have an environmental or social improvement by 2020. For more information about SPOT and Sharing Beauty With All, visit sharingbeautywithall.loreal.com.