L’Oréal has revealed three new recipients of its Fund for Nature Regeneration.
Created in 2020, through the fund, the beauty giant has committed €22m in projects to-date.
Selected for their potential to have a far-reaching, positive impact on the environment and local communities, 2023’s chosen projects are:
- NetZero: A French climate venture operating in tropical areas such as Cameroon and Brazil, NetZero specialises in long term carbon removal from the atmosphere by turning agricultural residues into biochar. Biochar is a stable, non-polluting carbon that can be added to improve degraded soil.
- ReforesTerra: ReforesTerra aims to restore 2,000 hectares of land degraded by pastures – one of the greatest challenges facing the Amazon. The project will engage with smallholder farmers to directly plant new trees and create a favourable environment for natural regeneration in the lower Rio Jamari basin of Rondônia, covering 75% 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.
- Mangroves.Now: This project facilitates community-based mangrove restoration projects in south Asian countries such as Bangladesh, India and Sri Lanka, which have been the most affected by mangrove deforestation in the last 30 years. It provides 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.
“The L’Oréal Fund for Nature Regeneration is an important vehicle in our efforts towards a more sustainable future for all,” said Rachel Barré, Environmental Leadership Director, L’Oréal Groupe.
“With the new projects signed, our aim is to help restore the planet’s biodiversity and preserve its abundant ecosystems.”
“Our vision for value creation is one where financial performance and environmental and socio-economic impact are inextricably linked,” added Muriel Atias, Chief Investment Officer at 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.”
Fund for Nature Regeneration’s first recipients, announced in 2021, were the Real Wild Estates Company (RWEC), the UK’s first rewilding business; and RIZE carbon financing, which helps accelerate France’s farming sector towards sustainable practices.
The fund is managed by Mirova Natural Capital, a subsidiary of natural capital investment firm Natixis Investment Managers.
Read more:
- L’Oréal is third beauty giant to invest in Geno’s sustainable palm and fossil alternatives
- L’Oréal joins project to create recycled polypropylene from post-consumer waste
- How is beauty supporting rewilding?
- L’Oréal grows biodiversity across the UK with The Real Wild Estates Company
