GS Caltex, a South Korean energy and chemical company, has recently signed a memorandum of understanding (MOU) with L’Oréal Group to develop and supply biomaterials-based cosmetic ingredients.
Recently, South Korean GS Caltex signed a memorandum of understanding (MOU) with L’Oréal Group, regarding the development and supply of bio-based cosmetic ingredients. GS Caltex is a South Korean energy and chemical company jointly owned by Chevron and GS Group.
This agreement marks the first step towards achieving common values and goals for sustainable futures in the development and supply of biomaterials-based cosmetic ingredients by GS Caltex, a leading comprehensive energy company in Korea, and L’Oréal, a global beauty company.
L’Oréal is committed to addressing urgent social and environmental challenges worldwide through sustainable innovation. In particular, the company launched “L’Oréal for the Future” and announced various sustainability goals based on independent research with external experts and citizen organizations to convert its business into environmentally friendly operations by 2030.
Since 2019, GS Caltex has been producing and selling 2,3-butanediol (2,3-BDO) using bio-mass and non-GMO microorganisms. 2,3-BDO is a human-friendly natural substance found in nature that is used as a moisturizer and anti-inflammatory agent and is also known for its excellent dispersion ability and skin feel, making it an ideal cosmetic ingredient. The company has obtained various domestic and international eco-friendly certifications and registrations for the environmental friendliness of the entire production process and supplies it as a raw material for famous domestic and international cosmetic brands under its own brand “Greendiol.”
The combination of the two companies’ environmental responsibilities and circular economy values is expected to lead to new changes in the global beauty market.
Hur Sae-hong, GS Caltex’s chief executive officer pointed out that the agreement will enable the company to enhance its environmental leadership by effectively leveraging its capabilities in research, development, and production within the beauty industry through the partnership with L’Oréal.
Barbara Lavernos, deputy chief executive officer at L’Oréal in charge of Research, Innovation, and Technology, stated that L’Oréal ‘s green science, which is based on the combination of nature and technology, is a crucial element in their current and future success. She pointed out that they intend to lead the way in sustainable innovation and shape the future of the beauty industry by collaborating with GS Caltex.
Source: GS Caltex