Asked what differentiates Maybelline and TerraCycle's new "Make-up Not Make Waste" scheme from other similar ones, Stephen Clarke, head of communications at TerraCycle, said that the number of stores participating meant it would be easier for consumers to recycle their beauty buys.
However, environmental campaign group Greenpeace said that "recycling will only ever get us so far".
Will McCallum, head of oceans at Greenpeace UK, said: "Given the almost daily torrent of research revealing the extent to which plastic pollution is damaging our planet, it's frustrating to see a major plastic producer like the make-up industry fail to commit to reduce its overall plastic footprint.
"Without action plans to move towards reusable packaging and reduce single-use plastic production, companies cannot claim they are doing enough."
More than 120 billion units of packaging are produced globally every year by the cosmetics industry alone, according to the Zero Waste Week campaign.
L'Oreal told the BBC that its global consumption of plastic totalled 137,000 tonnes in 2019.
The cosmetics firm has pledged that 100% of its plastic packaging will be refillable, reusable, recyclable or compostable by 2025.
Mr Sharma also said that the firm was dedicating €50m (£45.4m) to investing in recycling or plastic waste-related projects.