PARIS – L’Oréal has pledged an additional commitment of 50 million euros for its L’Oréal Fund for Women.
The fund was created in 2020 in order to help ease social emergencies worsened by the coronavirus pandemic. The world’s largest beauty company said Thursday it is renewing the endowment for five years, between 2026 and 2030, to contribute to the well-being, empowerment and resilience of 5 million women by 2030, among other actions, according to the company.
“For over a century, women have been at the heart of L’Oréal’s societal commitment,” said Nicolas Hieronimus, chief executive officer of L’Oréal, in a statement. “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 50 million euros over five years. This is true to our values and our mission to create the beauty that moves the world.”
The fund focuses on transforming lives of women and girls in very vulnerable situations. “In a context where inequality gaps are widening and women’s rights are still often challenged, this commitment aims to strengthen civil society’s fundings, that remain critical,” L’Oréal said.
Ezgi Barcenas
Courtesy of L’Oréal
The fund, which works with expert associations and nongovernmental organizations, centers on four main areas of impact: economic empowerment, education, the fight against violence, and access to sexual and reproductive health.
Ezgi Barcenas, chief corporate responsibility officer at L’Oréal, said the group is sure that the intensification of its philanthropic action for women is an essential lever for social progress.
“Since 2020, the L’Oréal Fund for Women has contributed to support more than 6 million women, in partnership with over 500 associations worldwide,” she said. “We think it is our profound responsibility to amplify our unwavering commitment to women.”
