Sustainability information and the information required under Article 8 of Regulation (EU) 2020/852 may be subject to inherent uncertainty arising from the state of scientific knowledge and from the quality of the external data used. Certain information is sensitive to the methodological choices, assumptions and/or estimates applied in preparing it and presented in the management report.
Compliance with the requirements set out in the ESRS of the process implemented by L'Oréal to determine the information reported, including the obligation to consult the social and economic committee provided for in the sixth paragraph of Article L. 2312-17 of the French Labor Code
Nature of procedures carried out
Our procedures consisted in verifying that:
- the process defined and implemented by L'Oréal, including the obligation to consult the social and economic committee provided for in the sixth paragraph of Article L. 2312-17 of the French Labor Code, has enabled it, in accordance with the ESRS, to identify and assess its impacts, risks and opportunities related to sustainability matters, and to identify the material impacts, risks and opportunities that led to the publication of sustainability information in the Sustainability Report;
- the information provided on this process also complies with the ESRS.
Conclusion of the procedures carried out
On the basis of the procedures we have carried out, we have not identified any material errors, omissions or inconsistencies regarding the compliance of the process implemented by L'Oréal with the ESRS.
Elements that received particular attention
Information relating to the way L’Oréal is updating its double materiality assessment (“DMA”) is mentioned in section 4.1.3 “Double materiality assessment: mapping impacts, risks and opportunities” of the Sustainability Report.
We have, through interviews with Management and with those individuals we considered appropriate, and by inspecting the available documentation, obtained an understanding of:
- the analyses carried out by L’Oréal, in particular the assessment of internal and external factors considered to justify the absence of a revision of the DMA process.
- Based on our professional judgment, our procedures consisted primarily of:
- exercising professional scepticism regarding the approach taken by L’Oréal to identify the internal and external factors to be considered during its DMA process;
- assessing the appropriateness of the internal and external factors considered by L’Oréal with regard to our knowledge of L’Oréal;
- assessing the appropriateness of the description given in section 4.1.3.1 "Methodology" of the Sustainability Report.
Compliance of the sustainability information included in the Sustainability Report with the provisions of Article L. 233-28-4 of the French Commercial Code, including the ESRS
Nature of procedures carried out
Our procedures consisted in verifying that, in accordance with legal and regulatory requirements, including the ESRS:
- the disclosures provided enable an understanding of the general basis for the preparation and governance of the sustainability information included in the Sustainability Report, including the basis for determining the information relating to the value chain and the exemptions from disclosures used;
- the presentation of this information ensures its readability and understandability;
- the scope chosen by L'Oréal for providing this information is appropriate; and
- on the basis of a selection, based on our analysis of the risks of non-compliance of the information provided and the expectations of users, this information does not contain any material errors, omissions, inconsistencies, i.e. that are likely to influence the judgement or decisions of users of this information.
Conclusion of the procedures carried out
Based on the procedures we have carried out, we have not identified material errors, omissions, inconsistencies regarding the compliance of the sustainability information included in the Sustainability Report with the provisions of Article L. 233-28-4 of the French Commercial Code, including the ESRS.
Elements that received particular attention
Information provided in application of environmental standard ESRS E1
The information published in respect of climate change (ESRS E1) is mentioned in section 4.2 of the Sustainability Report.
