L'Oréal Pushes Forward in Sustainable Beauty Climate Tech
The beauty and personal care industry sees 30-50% of its emissions stemming from raw material sourcing.
In a trailblazing move, L'Oréal has embarked on a collaboration with Abolis and Evonik to venture deeper into the development and manufacturing of innovative bio-ingredients. This three-way partnership signifies a bold step towards sustainability in the sector.
“We are proud to invest in Abolis and expand our collaboration, working together as a tight ecosystem alongside our historical partner, Evonik,” says Barbara Lavernos, Deputy Chief Executive Officer in charge of Research, Innovation and Technology at L’Oréal Group.
“By mobilising our respective companies’ research, innovation and manufacturing capabilities and expertise, we are building an end-to-end value chain that we believe has tremendous potential to be a game-changer in bio-based ingredients for beauty.”
A greener future: L’Oréal’s sustainable vision
With an impressive workforce exceeding 90,000 and a revenue figure touching €41.18bn (US$45.85bn) in 2023, L’Oréal stands as a giant in the French personal care landscape, boasting 37 global brands like Garnier and Maybelline.
For more than two decades, the conglomerate has diligently worked towards curtailing industrial GHG emissions through enhanced energy efficiency, augmented renewable energy usage and set targets.
Its ambitious goal? To fully power its sites with renewable energy by 2025 and halve the GHG emissions linked to product transport by 2030.
Introducing Evonik
German specialty chemicals titan Evonik operates across the globe, boasting revenues of €15.3bn (US$17bn) and a team of 33,000 in 2023.
The company’s GHG reduction objectives received a nod from the Science Based Targets initiative (SBTi), aligning with a ’well below 2 degrees’ pathway.
Bernhard Mohr, Managing Director of Evonik Venture Capital, says: “With Abolis’ competencies in strain development and metabolic engineering, and our collaboration with L'Oréal, we aim to unlock new opportunities in cosmetics.”
10 years of Abolis Biotechnologies
Since its inception in 2014, French biotech firm Abolis has aspired to be at the forefront of sustainable manufacturing.
Its partnership with L’Oréal and Evonik is a testament to this vision, following a successful 2024 investment round raising €35m (US$38.9m).
Samantha Etienne, Global General Manager of BOLD, L’Oréal’s venture capital fund, says: “This investment highlights our belief in Abolis’ potential to create a more sustainable future across various industries, including beauty.”
L’Oréal and Abolis’ expanded partnership
L’Oréal sets its sights on making 95% of its formula ingredients bio-based or derived from circular processes by 2030.
The partnership with Abolis, which began back in 2019, is now entering a new phase with additional investments fuelling further collaboration.
"We are thrilled to receive this round of funding which will allow us to take the next step in pushing the boundaries of innovation in biotechnology," says Cyrille Pauthenier, CEO of Abolis Biotechnologies.
"Our collaboration with L’Oréal and Evonik will empower us to create groundbreaking solutions tailored to drive the sustainable transformation of the industries we serve including beauty, nutrition and healthcare.”
L'Oréal Group invests more than €1bn (US$1.1bn). in R&I each year. A large percentage goes towards its work in Green Sciences, with a major focus on biotechnologies.
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