PARIS – L’Oréal Group has launched a 15-million-euro endowment fund focused on communities facing the most important disaster risks.

“We have now noticed, like everybody, within the last years an increasing number of climate change-related disasters,” Alexandra Palt, chief corporate responsibility officer at L’Oréal Group and chief executive officer of the Fondation L’Oréal, told WWD. “We all know that it should develop into much more frequent [and severe] in the subsequent years.”

She was speaking just after the devastating earthquake in Morocco and flooding in Derna, Libya, took place, claiming hundreds of lives.

Estimates show that disasters driven by climate have increased five-fold over the past 50 years and represent 50 percent of all natural catastrophes. As much as 3 billion people live in areas which might be exposed to such disasters, and that number is anticipated to rise by 1 billion by 2050.

L’Oréal’s latest fund, to be unveiled at Climate Week NYC that runs from Sunday to Sept. 24, is created to achieve vulnerable communities via partnerships with local disaster relief organizations and non-governmental organizations.

The Climate Emergency Fund will focus on organizations that “prepare” to assist reduce the impact of climate disasters before they occur and that “repair” to reestablish key infrastructures and services after there’s a disaster.

The primary two organizations to receive backing from the brand new fund include The Solutions Project and Start Network.

The Solutions Project is a U.S.-based NGO that funds and amplifies climate justice solutions created by Black people, Indigenous people, immigrants, women and communities of color.

“We cannot just think that climate disaster goes to the touch the poorest within the poorest countries, but additionally the poorest in richer countries,” said Palt. “It’s at all times people who find themselves either poor, discriminated or excluded who might be those that suffer most from climate change.”

Start Network is an alliance of greater than 80 NGOs across five continents.

“They work lots on innovation, and early and rapid financing as a way to support people after they are in a crisis, to actually provide early and effective responses when the crisis strikes,” said Palt.

“It is obvious that while climate emergencies are global in nature, some communities are at far greater risk of near-term climate disasters and must develop resilience to those looming crises before they strike,” said Christina Bennett, chief executive officer of Start Network, in an announcement.

“In partnership with L’Oréal and native organizations rooted of their communities, we’ll enable these communities to organize and protect themselves, with the tools and know-how delivered by local teams accustomed to their circumstances and well-placed to assist them rebound more quickly,” she said.

L’Oréal’s Climate Emergency Fund is just not currently undertaking a call for proposals, but continues itself to discover progressive solutions, Palt said.

She explained there’s a learning curve to find the solutions, because the frequency and severity of climate-related and natural disasters has escalated.

The fund is an element of a bigger ecosystem L’Oréal has put in place to assist burgeoning humanitarian and environmental challenges. The group also has launched the L’Oréal Fund for Nature Regeneration, the Circular Innovation Fund and the L’Oréal Fund for Women.

“We have now lots of experience with progressive solutions within the philanthropic space,” said Palt. “All these funds attempt to create latest models that may bring answers and responses to the brand new challenges.

“What we now have seen in in our activities and experiences is that we’d like latest ways of financing and intervention,” she continued. “And so we might be once more direct our fundings to local small community stakeholders. It is going to be either through local networks or greater organizations who’re connected with these local stakeholders.”

The thought is to develop solutions for communities in order that they can react and act themselves.

“That’s what we now have done through the L’Oréal Fund for Women,” said Palt.

She said the Climate Emergency Fund will complete L’Oréal’s philanthropic endeavors, which have a complete investment of greater than 200 million euros.

“After all, all this doesn’t change or decelerate any of our own environmental transformation,” said Palt. “But we also think that we now have a responsibility to contribute externally.”