The world’s largest cosmetics company, L’Oréal, and 10 key suppliers pledged at China’s first carbon neutrality expo in Shanghai to reduce the industry’s supply-chain emissions of greenhouse gases. L’Oréal wants to utilise China’s role as a fast-developing digital economy and as the world’s biggest e-commerce market to tackle the beauty industry’s environmental problem.
There are several factors in China that contribute to the challenge of reducing the beauty industry’s emissions, including:
- Fierce competition and a low barrier of entry
- Consumer perception of the additional value of sustainability a brand makes through investment
- Consumer shift to a sustainable consumption mindset
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