KARACHI-Ahead of Earth Day, L’Oréal yesterday announced three new recipients of its Fund for Nature Regeneration. NetZero, ReforesTerra and Mangroves.Now were chosen for their innovative approaches to carbon capture in soils, reforestation and mangrove restoration, and for their potential to have a far-reaching, positive impact on the environment and local communities.
According to the COP15, one million species are already threatened with extinction and 75% of the earth’s surface has been significantly altered. With the Intergovernmental Panel on Climate Change (IPCC) calling for more global cooperation in biodiversity preservation efforts, L’Oréal is accelerating its longstanding commitment to biodiversity beyond its own value chain. Through the fund, which has committed EUR22 million in projects to-date, L’Oréal is engaging with partners with proven expertise to support in the regeneration of degraded lands and mangroves, as well as the restoration of marine areas and forests.
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NetZero is a French climate venture operating in tropical areas such as Cameroon and Brazil, that specializes 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. It is recognized by the IPCC as a viable solution with the potential to remove one-to-two billion tons of CO2 emissions from the planet’s atmosphere each year.
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 favorable environment for natural regeneration in the lower Rio Jamari basin of Rondônia, covering 75 per cent 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. This project is one of the largest Afforestation, Reforestation and Revegetation (ARR) projects in Brazil.
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Mangroves.Now will facilitate community-based mangrove restoration projects in South Asian countries such as Bangladesh, India and Sri Lanka. This region has been the most affected by mangrove deforestation in the last thirty years. Mangroves.Now will provide 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.