In the context of the Covid-19 pandemic and to address its consequences, L’Oréal has announced L’Oréal for the future, an unprecedented social and environmental solidarity programme to address the following priorities:

  • Supporting organisations that support highly vulnerable women, the first victims of the social and economic crisis generated by the pandemic, with the creation of a €50 million charitable endowment fund;
  • Contributing to the regeneration of damaged natural ecosystems and efforts to prevent climate change, with €100 million dedicated to environmental impact investing.

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, which has historically been committed to supporting women, is still there for them today, because women are disproportionately affected by the Covid-19 crisis, particularly in terms of job and income loss. They make up a large majority of single-parent families, and are increasingly forced to turn to food banks to meet their most basic needs.

At the same time, domestic and sexual violence has increased worldwide, including in France (+30%), particularly due to the effects of lockdown measures. To directly help struggling women, 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.

In addition to its ongoing long-term efforts to reduce its environmental impact as part of its Sharing Beauty with All sustainable development programme, the L’Oréal Group has decided to engage €100 million into impact investing, in order to act upon two key environmental challenges.

50 million will be used to finance marine and forest ecosystem restoration projects that also create new social and economic development opportunities for the populations that depend on these ecosystems (developing sustainable agriculture and fishing, eco-tourism, sale of carbon credits). The fund, the L’Oréal Fund for Nature Regeneration, aims to restore one million hectares of degraded ecosystems, capture 15 to 20 million tonnes of CO2 and create hundreds of job opportunities by 2030.

€50 million will be directed to financing for projects linked to the circular economy. With this fund, the L’Oréal Group aims to contribute to the quest for solutions and the creation of business models that support the development of a circular economy, particularly in terms of recycling and management of plastic waste.

The L’Oréal Group plans to 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 the planetary boundaries.

Source: L’Oréal