- Coty to offer 14-week global minimum parental leave for all
employees, regardless of gender
- Exceeds goals set for 2030 on emissions from own operations
(Scope 1 and 2), energy reduction, and recycling rate
- Commits to setting emissions reduction targets in line with
science-based net-zero
Today, Coty Inc. (NYSE: COTY) announces a significant expansion
of its global gender-neutral parental leave policy in its 2023
Sustainability Report (reported as July 2022 to June 2023).
Grounded in Coty’s Beauty That Lasts sustainability framework, the
company continues to set new benchmarks, exceeding targets across
its three pillars: Product, Planet, and People.
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the full release here:
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Beauty That Lasts, Coty's sustainability
framework (Photo: Business Wire)
As part of its dedication to its People pillar, Coty expands its
gender-neutral parental leave policy, established in 2022. The
company sets a global minimum of 14 fully paid weeks for all
employees, regardless of gender. This standard will be phased in,
with all countries offering the new global minimum by the end of
Coty’s FY24. Guided by local regulations, Coty’s parental leave
policy champions gender equality in pay and workplace advancement
worldwide.
Coty CEO Sue Nabi shares, "Aligned with our broader
sustainability goals across Product, Planet, and People, our
expanded gender-neutral parental leave policy underscores our
holistic approach to sustainability for long-term success. It is a
point of pride for all of us at Coty."
Additional highlights from Coty’s FY23 Sustainability Report
include:
- Coty exceeds its SBTi1-approved Scope 1 and 2 emissions
reduction targets, achieving an impressive 82% reduction,
significantly overachieving the 50% target.
- Coty surpasses its energy reduction target, achieving a 23%
energy reduction compared with its target of 20%.
- Coty factories and distribution centers also achieve their
goals of zero waste to landfill and an 80% recycling rate ahead of
2030 schedule.
- Looking beyond 2030, Coty has committed to the SBTi to set
long-term emissions reduction targets in line with science-based
net-zero2.
- Coty drives sustainable actions across its portfolio by
integrating innovative biotechnology into product formulas,
launching new products crafted with 100% carbon-captured alcohol,
and expanding its list of cruelty-free brands with philosophy and
Monange achieving Leaping Bunny approval by Cruelty Free
International.
- Coty introduces global sustainability training for all
associates and restructures its corporate Sustainability Office
with new leadership.
Please refer to Coty’s Sustainability Report for more on Coty’s
FY23 sustainability milestones and its ESG Index for a
comprehensive overview of Coty’s ESG data and policies.
ABOUT COTY
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 REGARDING DIVERSITY AND SUSTAINABILITY
INFORMATION
This Beauty That Lasts Sustainability Report, ESG Index, and our
website “Coty.com” contain information about our social impact and
sustainability goals, targets, initiatives, commitments, and
activities. These efforts involve certain risks and uncertainties,
such as changes in our 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, our 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 the Company. 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.
Our disclosure concerning these matters, including this Beauty
That Lasts Sustainability Report and other disclosures on these
topics, may use certain terms that third parties refer to as
“material” in connection with certain social impact and
sustainability matters. Used in the context of our disclosure and
our Beauty That Lasts Sustainability Report, however, these terms
are distinct from, and should not be confused with, the terms
“material” and “materiality” as defined by, or construed in
accordance with, securities or other laws and regulations.
Therefore, matters considered to be material for purposes of our
Beauty That Lasts Sustainability Report may not be considered
material in the context of our financial statements, reports with
the U.S. Securities and Exchange Commission (“SEC”), or our other
public statements, and the inclusion of information on our website
or in our Beauty That Lasts Sustainability Report is not an
indication that such information is necessarily material to the
Company in those contexts.
Our disclosure concerning these matters, including our Beauty
That Lasts Sustainability Report, includes forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements regarding our social
impact and sustainability goals, targets, initiatives, commitments,
and activities, as well as our future operations and long-term
strategy.
Although we believe that our expectations are based on
reasonable assumptions within the bounds of our knowledge of our
business and operations, we 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 our Annual Report on Form 10-K and other periodic
reports we have 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 document, and we do 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, we assume no responsibility to
update the information contained on our website or in our Beauty
That Lasts Sustainability Report or to continue to report any
information.
AVAILABILITY OF INFORMATION
We use our website as a channel for routine distribution of
important information, including news releases, presentations, and
financial information. We have also posted on our website our: (i)
Principles of Corporate Governance; (ii) Code of Conduct (and any
amendments or waivers); (iii) Code of Conduct for Business
Partners; (iv) Charters for the Audit and Finance Committee and
Remuneration and Nomination Committee; and (v) sustainability
information, including information on our sustainability strategy,
Beauty That Lasts, our diversity, equity and inclusion strategy,
and certain Company policies. The information on our website is
not, and will not be deemed to be, a part of or incorporated into
this Beauty That Lasts Sustainability Report.
1 Science Based Targets initiative. 2 Per the SBTi target
setting process, Coty will set net zero-aligned targets by November
2025.
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version on businesswire.com: https://www.businesswire.com/news/home/20231127974163/en/
MEDIA INQUIRIES: Coty Press Team press@cotyinc.com
INVESTOR RELATIONS: Olga Levinzon Olga_Levinzon@cotyinc.com
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