The 1st “L’Oréal for Ethics” Excellence Bursary was awarded yesterday evening by Jean-Paul Agon, L’Oréal CEO, to two students of the first class of the University of Cergy-Pontoise’s european “Law and Business Ethics” Master Degree which L’Oréal contributed to launch in 2008.
The « L’Oréal for Ethics » Excellence Bursary, a first in Europe
This corporate Bursary, unique in Europe, aims to support students who have chosen to include the study of business ethics in their vocational training. The winners are selected on the basis of their academic record, their financial needs and the quality of an essay, which this year was on the theme of “The importance of ethics in the global leaders of tomorrow”.
« L’Oréal’s approach with regards ethics is proactive and determined. Our ambition is to contribute to the development of a European school of thought on business ethics. Grasping what is just beginning is a constant trait of the L’Oréal culture. In this particular case, we wish to recognize and reward young talents who have integrated business ethics in their vocational training» déclared Jean-Paul Agon, L’Oréal CEO.
The two students, Julie Gallaud and Marion Deferi, respectively in the first and second year of the University of Cergy-Pontoise’s “Law and Business Ethics” Master Degree each received 5,000 euros.
The University of Cergy-Pontoise’s Chair and Master Degree in Law and Business Ethics
In 2008, L’Oréal and the University of Cergy-Pontoise launched the first European “Law and Business Ethics” Master Degree. The first class is named after L’Oréal and sponsored by the L’Oréal Group’s Director of Ethics, Emmanuel Lulin. L’Oréal also participates in the development of the University of Cergy-Pontoise’s Law and Business Chair which aims to encourage corporate responsibility.
L’Oréal and Ethics : an ongoing commitment
L’Oréal has been built around fundamental values such as respect, integrity and excellence, which have shaped its culture and underpin its reputation. By demonstrating high ethical standards, L’Oréal hopes to earn and retain the trust and respect of its employees, consumers, customers, suppliers and shareholders.
In 2000, L’Oréal was one of the first large French companies to have adopted a Code of Business Ethics. A second edition of this Code was launched in 2007, drafted with the help of employees from 22 countries and available in 43 languages. In March 2009, Jean-Paul Agon received, on behalf of L’Oréal, the Pace Leadership in Ethics Award from the Ethics Resource Center in recognition of L’Oréal’s important contribution to the development of business ethics.
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