Grands Prix de l'Assemblée Générale et de la Mixité 2022 | Interview de Christophe Babule

Yes, I think beauty is essential. The origins of this quest for beauty date back to the origins of humanity. It is a permanent quest, a desire for beauty that manifests in all cultures and regions of the world. Beauty is not only about physical appearance; for many people, it is a way to improve self-esteem and build self-confidence, which is increasingly important in our societies. That is why, when we look at the evolution of the beauty market, it is constantly growing: it grows by 4 to 5% per year and is very resilient. Over this period, there was only one year when the market did not grow, and that was during Covid. This market is supported by demographics that continue to develop, as well as the growth of middle classes, especially in emerging countries. That said, it is very important – and that is why it is written in our reason for existence – that not only beauty leaders but the entire industry are aware of the impact our universe can have on our planet. That is why we have objectives inscribed in our reason for existence: to make the planet more beautiful. L'Oreal's reason for existence is driven by this ambition, so we must act urgently. While the desire for beauty must be protected, it goes hand in hand with the absolute necessity to act for the beauty of the planet. First, you should know that this project and our ESG commitments are driven by the need to transform our model so that a company like L'Oreal, a leader in its sector, is also a leader in sustainable development and ESG broadly. This is a source of pride for our 86,000 employees worldwide. When you ask them what drives them daily, it is not only to bring innovation but also to be a recognized leader in this area. All functions are aligned, with very specific objectives carried by operations in the industrial domain but also by each brand. Today, each of our brands sets precise targets to ensure our products are eco-designed from the start. In fact, it is the teams themselves who push our ambitions even further, because innovations constantly reveal ways to go further and faster. On this front, it is essential to have cohesion across all functions. As someone representing the financial side, I am fully aware of our responsibility to accelerate this movement. I believe finance has many means to act and an important responsibility to progress. That is why we have created at L'Oreal impact funds: a fund for biodiversity with 50 million euros, and a fund for the circular economy, among other initiatives that support our ESG objectives and ensure we meet them not in 2050 or 2030, but by 2025. We are challenged internally, first by our board of directors throughout the year. Increasingly, there is a kind of activism within the company, driven by young people and experts, which is very salutary and pushes us to go further. We must listen to them, especially because these initiatives often have the means and resources to be financed. Furthermore, in the field of innovation – particularly in research and innovation – we have researchers who are very advanced on some of our objectives, notably in green sciences. I believe these initiatives must be supported, especially since they are not only internal but also increasingly open to external ideas. Our suppliers themselves sometimes challenge us positively; they bring ideas and innovations, particularly in mini-packaging and all areas of biotech, which as you know are very important and innovative in France. They will certainly help us transform our research so that all our formulas are bio-sourced and green sciences become part of every L'Oreal formula.