With COVID-19 not only having an effect on society but also the environment, L’Oréal has announced its program, L’Oréal for the Future, where a total of 150 million euros will go towards supporting highly vulnerable women during the pandemic, as well as contributing to the environment to help prevent climate change and help regrow natural ecosystems.
Of the 150 million euros, 50 million will go towards charitable endowment funds and local charities to provide aid to the many vulnerable women in society affected as a consequence of the pandemic. especially those who have experienced job and income loss, and single-parent families who are struggling to feed their families. On top of this, domestic and sexual violence rates have increased worldwide due to the lockdown measures currently in place.
“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,”says Alexandra Palt, Chief Corporate Responsibility Officer of the L’Oréal Group
For the environment
Although society has without doubt taken a major hit, L’Oréal is “fully aware that environmental challenges are increasingly pressing,” says Palt. To address these issues, 100 million euros have been split to focus on two pressing environmental challenges:
- regenerating damaged natural ecosystems
- preventing climate change
50 million euros will finance marine and forest ecosystem restoration projects. For example, L’Oréal’s Fund for Nature Regeneration aims to:
- restore one million hectares
- capture 15 to 20 million tonnes of CO2
- create hundreds of job opportunities by 2030
The other 50 million will specifically focus on funding solutions and business models that support recycling and management of plastic waste.
Visit https://www.loreal.com for more information on the program.