Coty 2022 Sustainability Report: Celebrating new SBTi-approved commitments and gender equity achievements
15 Novembro 2022 - 10:00AM
Business Wire
Today, Coty Inc. (NYSE: COTY) releases its Sustainability Report
for the 2022 fiscal year. The report outlines the progress made in
advancing Coty’s corporate sustainability strategy, Beauty That
Lasts, from July 2021 to June 2022.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20221115005928/en/
“Beauty That Lasts is a critical driver of Coty’s ambition to
make over the world of beauty. United by fearless kindness, we
create forward-thinking products that provide new, innovative, and
simply better science-based solutions. We must continue to push the
boundaries of what’s comfortable and expected, finding new ways to
operate,” shares Coty CEO Sue Y. Nabi.
A complete view of Coty’s sustainability activities in FY22 can
be found in the full report. Highlights include:
New environmental commitments
- Coty shares new near-term reduction targets for greenhouse gas
emissions (GHG), approved by the Science Based Targets initiative
(SBTi). Coty commits to:
- Reduce absolute scopes 1 and 2 GHG emissions by 50% by 2030
from a calendar year 2019 base year*
- Increase in annual sourcing of renewable electricity from 5% in
calendar year 2019 to 100% by 2030
- Reduce absolute scope 3 GHG emissions by 28% within the same
timeframe
- Coty has also launched new packaging targets as a key driver in
reducing the company’s carbon footprint:
- 20% reduction in packaging by 2030**
- 100% FSC or PEFC-certified folding box boards by 2025
- 30% post-consumer recycled materials (PCR) by 2030
Waste commitments
In FY22 we reached our goal of sending zero waste to landfill
from our factories and distribution centers, and are ahead of
schedule to meet our recycling goal, achieving 79.8% against our
80% by 2030 target.
Delivering on gender equity
- Coty is pleased to announce it has achieved its goal to pay
equitably for similar roles and performance, regardless of gender,
by 2022.
- Coty has launched a new global gender-neutral parental leave
policy, providing access to fully paid leave for all associates
starting or growing their families.
Coty is also proud to have driven sustainable product
innovations across its brands. The new Chloé Naturelle Intense is
the first re-fillable fragrance in the Coty portfolio. For the
launch of the new Adidas Active Skin & Mind range of shower
gels, the company prioritized the use of PCR - the bottle is made
from 99.8% PCR and the cap is 48% PCR. The range also features
Coty’s first refillable body care solutions and more than an 18%
packaging weight reduction vs. the brand's original baseline body
care range. Coty has also expanded its cruelty free offering with
Rimmel, Manhattan and Risqué recently joining COVERGIRL in
achieving Leaping Bunny approval by Cruelty Free International.
Chief Scientific Officer Dr. Shimei Fan says, “This has been an
exciting year for Coty’s sustainability journey, and I am so proud
of our achievements on gender equity and our new carbon and
packaging commitments. Coty is disrupting beauty standards and we
are taking the same approach to our sustainability ambitions. I
truly believe we will be able to lead the way and create meaningful
change in our industry.”
*The target boundary includes biogenic emissions and removals
from bioenergy feedstocks.
** Across Coty, an average of a 20% reduction in packaging gram
per milliliter of product manufactured. The target is set against
Coty’s 2019 calendar year baseline.
About Coty Inc.
Founded in Paris in 1904, Coty is one of the world’s largest
beauty companies with a portfolio of iconic brands across
fragrance, color cosmetics, and skin and body care. Coty serves
consumers around the world, selling prestige and mass-market
products in approximately 125 countries and territories. Coty and
its brands empower people to express themselves freely, creating
their own visions of beauty, and is committed to making a positive
impact on the planet. For additional information about Coty Inc.,
please visit www.coty.com.
Cautionary Note
This press release and the related Beauty That Lasts
Sustainability Report contain information about Coty’s social
impact and sustainability goals, targets, initiatives, commitments,
and activities. These efforts involve certain risks and
uncertainties, such as changes in Coty’s business (e.g.,
acquisitions, divestitures, or new manufacturing or distribution
locations), the standards by which achievement is measured, the
assumptions underlying a particular goal or matter, and our ability
to accurately report particular information. Actual results could
differ materially from our stated goals or the results we expect.
Changing circumstances, including evolving expectations for social
impact and sustainability generally or to specific focus areas or
changes in standards or the way progress or achievement is
measured, may lead to adjustments in, or the discontinuation of,
Coty’s pursuit of, certain goals, commitments, or initiatives.
Moreover, the standards by which social impact and sustainability
efforts and related matters are measured are developing and
evolving, and certain areas are based on assumptions. The standards
and assumptions could change over time. The selection by management
of alternative acceptable measurements could have resulted in
materially different amounts or sustainability metrics reported by
Coty. In addition, statements made about our company, business, or
efforts may not apply to all business units (e.g., ones that were
more recently acquired) or joint ventures and strategic
partnerships.
This press release and the related Beauty That Lasts
Sustainability Report include forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements regarding Coty’s social impact and
sustainability goals, targets, initiatives, commitments, and
activities, as well as our future operations and long-term
strategy.
Although Coty believes that its expectations are based on
reasonable assumptions within the bounds of its knowledge of its
business and operations, Coty cannot assure that actual results or
outcomes will not differ materially from any future results or
outcomes expressed or implied by such forward-looking statements
relating to sustainability. Forward-looking statements relating to
sustainability include all statements that do not relate solely to
historical or current facts and involve a number of known and
unknown risks, uncertainties, and other important factors such as
those described under the heading “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” in Coty’s Annual Report on Form 10-K and other periodic
reports Coty has filed and may file with the SEC from
time-to-time.
These forward-looking statements relating to sustainability are
made only as of the date of this press release, and Coty does not
undertake any obligation, other than as may be required by
applicable law, to update or revise any forward-looking or
cautionary statements to reflect changes in assumptions, the
occurrence of events, unanticipated or otherwise, or changes in
future operating results over time or otherwise. In addition, Coty
assumes no responsibility to update the information contained in
its Beauty That Lasts Sustainability Report or to continue to
report any information.
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version on businesswire.com: https://www.businesswire.com/news/home/20221115005928/en/
Media: Coty Press Team press@cotyinc.com Investor
Relations: Olga Levinzon +1 212 389-7733
Olga_Levinzon@cotyinc.com
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