In the context of the COVID-19 pandemic and to attempt to mitigate its consequences, L’Oréal has announced L’Oréal for the Future — an industry-first social and environmental solidarity program to address two key priorities …
• To directly help struggling women, who are being disproportionately affected by the COVID-19 crisis, L’Oréal is creating a €50 million charitable endowment fund to support field organizations and local charities in their efforts to fight poverty, help women achieve social and professional integration, provide emergency assistance to refugee and disabled women, prevent violence against women, and support victims.
• The L’Oréal Group will also channel €100 million into impact investing, in order to act upon two key environmental challenges:
regenerating damaged natural ecosystems: The €50 million L’Oréal Fund for Nature Regeneration aims to restore one million hectares of degraded ecosystems, capture 15-20 million tonnes of CO2 and create hundreds of job opportunities by 2030.
preventing climate change: €50 million will be directed to financing for circular solutions, particularly in terms of recycling and management of plastic waste.
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Jean-Paul Agon, Chairman and CEO of L’Oréal, says:
“Over the coming months, our societies will face social crises giving rise to situations of great human suffering, particularly for the most vulnerable. At the same time, we are fully aware that environmental challenges are increasingly pressing. It is essential not to step back from the sustainable transformation that the world needs. We therefore wish to reaffirm our commitment to the environment and to the preservation of biodiversity, and to help mitigate the social crisis for women. These two causes reflect the values and the historic commitment of L’Oréal.”
The L’Oréal Group says it will present its new sustainability program for 2030 in late June, which will complete the L’Oréal for the Future plan and will ensure that all of L’Oréal’s activities are respectful of planetary boundaries.
Learn more about L’Oréal for the Future …