L’Oréal Groupe, in collaboration with Chenavari Investment Managers, recently launched the Solstice fund, aimed at assisting small and medium-sized enterprises in meeting scope 3 emissions commitments. The fund, supported by an initial €50 million investment from L’Oréal, seeks to improve supplier access to funding for decarbonization initiatives, including clean energy and transportation. This initiative builds on L’Oréal’s broader sustainability efforts, which target a 28% reduction in scope 3 emissions by 2030, largely influenced by supplier activities.

Source: https://www.supplychaindive.com/news/loreal-groupe-supplier-decarbonization-fund-scope-3-solstice/734522/