Two global beauty brands, L'Oréal and Shiseido, have been announced as winners of the 2014 ‘World’s Most Ethical Companies’ award for the health and beauty category.
The title, awarded annually by US management consulting firm Ethisphere to companies across the industrial sphere, goes to business the firm deems to have “gone beyond making statements about doing business ethically and translated those words into action.”
L'Oréal and Shiseido join 142 other companies awarded this year, who according to Ethisphere; “not only promote ethical business standards and practices internally, they exceed legal compliance minimums and shape future industry standards by introducing best practices today.”
L’Oreal and Shiseido
Both companies have featured in the list of honorees previously: this marks the third successive win for Shiseido, and the title has been awarded four times previously to L'Oréal.
Jean-Paul Agon, Chief Executive Officer and Chairman of the Board of L'Oréal, voiced his delight at the award, noting his hope that it will encourage growth for the company.
"Respecting high ethical standards and serving the common good will not only make a real difference in the 21st century but will also, through the resulting transformations, have a positive impact on our company's profitability," he said.
Japan-based Shiseido also announced its pleasure at being chosen, and noted it will now look ahead to continuing its ethical practices.
“We will not only promote management with even more transparency but also contribute to society through various corporate activities,” the company stated.
Women in science
Both companies have also been in the spotlight recently for their moves to further the profile and reach of women in science.
UNESCO and the L'Oréal Corporate Foundation recently collaborated in the 16th annual award of five female scientists, who “have contributed to overcoming the global challenges of tomorrow.”
Shiseido backs a similar program, and this month selected 10 grant recipients for its annual female researcher science grant of 1 million yen.
The grant, the company notes, goes to support “female researchers specializing in natural science who are aiming to be leaders in their respective fields to support their research activities.”