THE WHAT? L’Oréal has announced three new recipients of its Fund for Nature Regeneration: NetZero, ReforesTerra and Mangroves Now. The latest projects were selected following due diligence and based on key criteria including business model readiness, economic viability, and positive environmental and social impacts.
THE DETAILS The fund, which was created in 2020, has committed €22 million in projects to date and is endowed with €50 million for impact investment.
“At L’Oréal Groupe, our environmental duty goes beyond our business. It is our responsibility to address today’s most pressing challenges, like the erosion of biodiversity and its social and ecological impact,” said Rachel Barré, Environmental Leadership Director, L’Oréal Groupe. “The L’Oréal Fund for Nature Regeneration is an important vehicle in our efforts towards a more sustainable future for all. With the new projects signed, our aim is to help restore the planet’s biodiversity and preserve its abundant ecosystems.”
THE WHY? The projects were selected for their innovative approached to carbon capture on soils, reforestation and mangrove restoration as well as their potential to have a far-reaching, positive impact on the environment and local communities, the French beauty giant said.