The L'Oréal group has announced the creation of a new 15 million euro fund to build the resilience of vulnerable populations in the face of climate-related disasters. This "Climate Emergency Fund" will support communities in the most exposed areas by enabling specialized partner organizations to assist populations in preventing and rebuilding in the face of such events.
Climate-related disasters are estimated to have increased fivefold over the past 50 years1. Today, nearly three billion people live in high-risk areas, and this figure could rise to four billion by 2050.2. The L'Oréal Climate Emergency Fund will help vulnerable populations through partnerships with local organizations and international NGOs specializing in disaster relief. It builds on L'Oréal's historic commitment to tackling ever-increasing humanitarian and environmental challenges, and follows on from other initiatives, such as the "L'Oréal Fund for the Regeneration of Nature", the "Circular Innovation Fund" and the "L'Oréal Fund for Women", bringing the group's total investment to over 200 million euros.
"As a global industry leader, L'Oréal has a duty to respond to the most pressing environmental and social needs, said Alexandra Palt, Managing Director - Corporate Social Responsibility and L'Oréal Foundation. The climate crisis we are facing requires urgent global action and mobilization, at all levels and on all fronts. With this new L'Oréal Climate Emergency Fund, we are reinforcing our commitment to accompany vulnerable communities towards greater resilience, in collaboration with organizations that are deploying innovative solutions on the ground."
The fund will focus on two types of action: "prevention", to help minimize the impact of climate-related disasters before they occur through planning and early warning systems; and "reconstruction", to restore essential infrastructure and vital services such as healthcare, housing and access to food and water after such disasters. The first two beneficiaries of the L'Oréal Climate Emergency Fund are The Solutions Project, a US-based non-profit organization, and Start Network, a global alliance of more than 80 local, national and international NGOs, which work on the front line to provide rapid and effective responses to prevent and manage humanitarian crises.
"While the climate crisis is global in nature, it is clear that some communities are much more at risk from short-term climate disasters, the impacts of which must be mitigated to prevent them becoming human catastrophes, said Christina Bennett, CEO of Start Network. In partnership with L'Oréal and local organizations that work closely with their communities, we will support people exposed to this type of risk, so that they can prepare and protect themselves, with the help of local teams. These teams know their situation inside out, and have the best expertise to ensure that affected populations recover more quickly after a disaster."
1. World Meteorological Organization (2021), WMO Atlas of Mortality and Economic Loss from Extreme Weather, Climate and Water Events, 1970-2019 (WMO-No. 1267).
2. Intergovernmental Panel on Climate Change (IPCC, 2021), Contribution of Working Group II to the Sixth Assessment Report: Headline Statements from the Summary for Policymakers.
