As the world grapples with the effects of COVID-19, those with the power to help are looking to give back and address the pandemic and its consequences in helpful ways. L’Oréal has announced L’Oréal For The Future, which will donate €50 million to a newly created fund to support vulnerable women impacted by the social and economic implications of the pandemic and €100 million to natural ecosystems in the continued effort of reducing climate change.
“Over the coming months, our societies will face social crises giving rise to situations of great human suffering, particularly for the most vulnerable,” said Jean-Paul Agon, Chairman and CEO of L’Oréal. “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 global organisation remains committed to supporting women, and will finance local endowments and charities aiding women who have suffered economic loss, who are struggling to support families and who are experiencing a global increase in domestic and sexual violence at this time. The money will be used to fight poverty, allow women to integrate socially and professionally, prevent family violence, support victims and provide emergency help to refugee and disable women.
“The Covid-19 crisis spares no one, but it also exacerbates existing inequalities, with particularly devastating effects on people who were already struggling socially or economically or are victims of abuse, especially women,” explained Alexandra Palt, Chief Corporate Responsibility Officer of the L’Oréal Group. “It is essential that we take action to support the most vulnerable women. This social crisis has not eclipsed the need for a strong commitment to the environment. If we are to find a sustainable and inclusive way to move past this crisis, we must also focus on preventing climate change and the erosion of biodiversity, which now threaten to even more profoundly and violently shake our lives, our societies, and our economies, once again with women as the first victims.”
In helping the environment, the group will expand on its ongoing efforts in this sector in an effort to regenerate damaged natural ecosystems in both marine and forest restoration efforts. They money will also help the populations that depend on these ecosystems for their agriculture, eco-tourism and more.
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, donating tens of millions of dollars to the circular economy, particularly in terms of recycling and management of plastic waste. The group continue their sustainable development program under the banner of Sharing Beauty With All, which puts the planet and environment front of mind at every stage of the company process and has attained global commendation for their sincere efforts in reaching sustainable goals.
Congratulations to L’Oréal for continuing to inspire and using their power and influence to make the world a better place.