HomeNewsVideos

L’Oréal pledges €100 million to fight environmental issues

30 June 2020 11:36

PARIS - French cosmetics giant L’Oréal Group has pledged €100 million to tackle environmental issues as part of its sustainable development programme L’Oréal for the Future.

According to the company's management, 50 million of the fund will be used to finance marine and forest ecosystem restoration projects through the L’Oréal Fund for Nature Regeneration, while the remaining 50 million will be invested in circular economy-related projects.

"L'Oréal's sustainable development revolution has entered a new era. The challenges currently faced by the planet are unprecedented, and it's extremely important to accelerate efforts to conserve a safe home for humanity," L'Oréal CEO Jean-Paul Agon said in an official statement received by IDNFinancials.com, Monday (29/6).

"We are implementing this effort in our business as a contribution to the general public. We understand that other major challenges will arise and L'Oréal will remain loyal to its ambition to operate within the planet's limits."

Through the L'Oréal for the Future programme, Mr Agon added, L'Oréal has established a measurable target to tackle climate changes by 2030 through biodiversity conservation, sustainable water management, and the use of circular resources. By 2025, the company targets 100% use of renewable energy to reach carbon neutrality. (MS)

© 2024 - IDN Financials - All Rights Reserved.