L'Oréal has committed an additional €50m to its Fund for Women scheme.
The French beauty giant has renewed the endowment for a further five years, first created in 2020 to address social emergencies exacerbated by the Covid-19 pandemic.
The aim is to contribute to enhancing the “well-being, empowerment and resilience” of five million women by 2030 – particularly those in “highly vulnerable situations”– among other philanthropic supports.
“For over a century, women have been at the heart of L’Oréal’s societal commitment,” said Nicolas Hieronimus, CEO of L'Oréal.
“In a context that is ever harder on them, our conviction that women empowerment is key to a fairer and more sustainable future for all has led us to renew the L'Oréal Fund for Women with an allocation of €50m over five years.”
The Fund is focused on four key areas of impact: economic empowerment, education, fight against violence, and access to sexual and reproductive health.
L'Oréal said the new funding comes during a time when inequality gaps are widening, and women’s rights are still often challenged.
Ezgi Barcenas, Chief Corporate Responsibility Officer of L'Oréal, added: “L'Oréal is proud to intensify its philanthropic action for women, convinced that it is an essential lever for social progress.
“Since 2020, the L'Oréal Fund for Women has contributed to support more than six million women, in partnership with over 500 associations worldwide.
“We think it is our profound responsibility to amplify our unwavering commitment to women.”