L’Oréal Group has accelerated its longstanding commitment to recover biodiversity worldwide and preserve the ecosystem with its Fund for Nature Regeneration by supporting innovative approaches to carbon capture in soils, reforestation and mangrove restoration, and for their potential to have a far-reaching, positive impact on the environment and local communities with three projects in 2023:
- NetZero is a French climate venture operating in tropical areas such as Cameroon and Brazil, that specializes in long-term carbon removal from the atmosphere by turning agricultural residues into biochar. It is recognized by the IPCC as a viable solution with the potential to remove one-to-two billion tons of CO2 emissions from the planet’s atmosphere each year.
- ReforesTerra will engage with smallholder farmers to directly plant new trees and create a favorable environment for natural regeneration in the lower Rio Jamari basin of Rondônia, covering 75 per cent of the project area. The remaining 25 per cent will benefit from strategic planting in small clusters that attracts wildlife to naturally propagate new forests. This project is one of the largest Afforestation, Reforestation and Revegetation (ARR) projects in Brazil. The project aims to restore 2,000 hectares of land degraded by pastures – one of the greatest challenges facing the Amazon.
- Mangroves.Now will facilitate community-based mangrove restoration projects in South Asian countries such as Bangladesh, India and Sri Lanka. This region has been the most affected by mangrove deforestation in the last thirty years. Mangroves.Now will provide access to financing for small-scale projects with local NGOs. The aim is to restore approximately 20,000 hectares of previously degraded land and provide equitable benefit-sharing with local communities.
“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. Until now, we have provided more than 22 million Euros funding support for various projects worldwide.”
“Our vision for value creation is one where financial performance and environmental and socio-economic impact are inextricably linked,” said Muriel Atias, Chief Investment Officer, L’Oréal Groupe. “The L’Oréal Fund for Nature Regeneration is a catalyst for sustainable value creation through private capital, enabling the acceleration of environmental solutions with long-term benefit. Through our impact investing strategy, we can play an important role in tackling biodiversity loss with expert local partners.”
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