L'Oréal Egypt is planning new investments by next year as part of plans to achieve carbon neutrality at its factory in 10th of Ramadan City, managing director said on Monday. Benoit Julia made his remarks at the second edition of L'Oréal Supplier Sustainability Summit, which introduced a new platform for suppliers to publicly discuss the implementable change that could make the point of sales production materials (POSM) production process more sustainable. This is through respecting the 14 Golden Rules that reflect "How L'Oréal Is Pushing POSM Suppliers to Become More Sustainable." Benoit highlighted L'Oréal focuses its efforts on implementing sustainability in all the countries in which it operates. The company is supporting Egypt's efforts in environmental sustainability through targeted initiatives that are in line with L'Oréal's strategy "L'Oréal for the future" and which they work to be a catalyst for change by empowering suppliers aiming for a better environment, he added. Since 2013, L'Oréal Egypt has been committed to achieving sustainability with the inauguration of its factory in Egypt, located at the 10th of Ramadan City. The piece of art factory with €50 million investment, and export hub factory to MENA region, was awarded twice by the FEI due to its sustainable practices implemented. The company proceeded with various initiatives, such as its efforts in developing PCR packages instead of virgin plastic in hair care products, as well as reducing the company's carbon emissions by -41 percent, water waste by -24 percent, and waste by -45 percent. The factory also completed the first phase of its renewable solar panel station in 2020, with a target to reach neutral energy by 2025.
