NEW YORK--(BUSINESS WIRE)--Today Coty Inc. announced its updated sustainability platform, “Beauty that Lasts,” with goals focusing on three pillars: ‘The Beauty of our People’, ‘The Beauty of our Products’ and ‘The Beauty of our Planet’. The sustainability platform is part of the company’s Turnaround Plan to build a better business while making a positive contribution towards societal, ethical and environmental change within the beauty industry. This step reinforces Coty’s continued support of the UN Global Compact Ten Principles which was announced five years ago.
“We want to ensure our business is ready to compete in a more circular economy and to benefit from a more inclusive society,” said Pierre Laubies, Coty, CEO. “We have seen huge interest and momentum from our associates, consumers and customers in these areas. We believe that by confirming targets, we will inspire action; and these goals will allow us to play a role alongside our peers to deliver meaningful impact in our industry.”
“Beauty that Lasts” Sustainability Platform: Targets
The Beauty of our PRODUCTS
Coty’s goal is to drive product innovation with sustainability in mind. This year the company implemented a newly created product sustainability index which will ensure its brands and designers make informed choices for all new product developments. The approach was piloted with launches such as the weDo Professional, an eco-ethical line of haircare products, and CK Everyone, a gender-free, clean and environmentally conscious fragrance.
Responsible sourcing of ingredients remains a priority. For example, greater traceability of Indian mica is a step to achieve 100% responsible sourced supply. As one of the founding members of the Responsible Mica Initiative, Coty will continue its work to ensure that Mica exports are fully traceable to source mines and processing units.
- As of 2020, include sustainability criteria in the conception of ALL NEW PRODUCTS and share progress on our High Profile Ingredient management process.
- By 2022: Improve RESPONSIBLE SOURCING and TRANSPARENCY in our supply chains
- Aim to purchase 100% mass balance certified PALM OIL for our production sites
- 100% responsibly sourced Indian MICA
- By 2025: 100% of the packaging for new products will include RECYCLED material or be RECYCLABLE, REUSABLE or COMPOSTABLE
The Beauty of our PLANET
The company’s goal is to do our part to protect and conserve natural resources to achieve a healthy, clean and safe environment. Against a 2017 baseline, Coty has already reduced the combined scope of emissions from offices, factories and distribution centers by 21%, and reduced total building energy consumption by 19%.
TARGETS: By 2030
- REDUCE OUR ABSOLUTE CO2 EMISSIONS across the entire value chain* by 30%
- Continue ENERGY REDUCTION* by 25% and switch to 100% RENEWABLE ENERGY
- Further REDUCE, RE-USE OR RECYCLE
- Send ZERO WASTE TO LANDFILL and RECYCLE 80% WASTE generated
The Beauty of our PEOPLE
Coty is committed to diversity, inclusion and belonging. The company has continued its partnership with the international advocacy group Global Citizen since 2017 to fight prejudice and discrimination. As of December 31, 2019, over 200,000 actions have been taken in support of Coty sponsored campaigns.
TARGETS: BY 2025
- Accelerate the INCLUSIVE TRAINING of our teams and maximize our DIVERSITY
- Committed to gender balance in our leadership positions*
- Broaden the measurement and reduction of GENDER PAY GAPS **
- Continue to support CHARTER FOR CHANGE
- Ensure 95% of associates complete COMPLIANCE training annually
- Mobilize 500,000 GLOBAL CITIZEN actions behind Coty campaigns
* Grade 1-5
** 5 biggest markets
“Beauty that Lasts” is an integral part of the Coty’s Turnaround strategy to build a better business while making a meaningful contribution towards achieving a more sustainable and equitable world. The company plans to report progress annually which can be found here: UNGC Report.
About Coty Inc.
Coty is one of the world’s largest beauty companies with an iconic portfolio of brands across fragrance, color cosmetics, hair color and styling, and skin and body care. Coty is the global leader in fragrance, a strong number two in professional hair color & styling, and number three in color cosmetics. Coty’s products are sold in over 150 countries around the world. Coty and its brands are committed to a range of social causes as well as seeking to minimize its impact on the environment.
For additional information about Coty Inc., please visit www.coty.com