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...
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