In collaboration with Chenavari Investment Managers, a European corporate credit specialist, the cosmetics group has just announced the creation of the Solstice fund. The aim? To support significant decarbonization investments by industrial suppliers. L’Oréal has pledged to invest 50 million euros in this project to help manufacturers (particularly smaller ones) become more “sustainable”.
It’s time for companies to help each other. Thanks to the Solstice Fund, companies will be able to obtain financing solutions to implement decarbonization initiatives.
“L’Oréal relies on a vast ecosystem of over 35,000 partner companies who are actively working towards a common goal: the fight against climate change,” commented Antoine Vanlaeys, Chief Operating Officer, L’Oréal Groupe. “We are implementing innovative solutions and encouraging our suppliers to progress together. I’m convinced that the creation of this fund will enable us to collectively accelerate the transition towards a more sustainable and responsible model.”
For his part, Loïc Fery, CEO and Founder of Chenavari, commented: “Decarbonizing industrial processes is a complex challenge that requires significant investment to finance the transition to low-carbon processes and achieve large-scale reductions in greenhouse gas emissions. By partnering with L’Oréal to create the Solstice Fund, we are helping to bridge the climate finance gap and create future sources of value through new sustainable, low-carbon practices.”
