Our sustainability strategy, Beauty That Lasts, is structured around three pillars: The Beauty of our Product, Planet, and People. Through Beauty of our Product, we are driving sustainable innovation; through Beauty of our Planet, we are working to protect and conserve natural resources; and through Beauty of our People, we are working to create a more inclusive business and society.
At Coty, our Beauty That Lasts sustainability strategy is a critical driver of our ambition to make over the world of beauty. As a leader in beauty, we know we must continue to push the boundaries of what’s comfortable and expected, finding new ways to operate. That includes being bolder in our sustainability ambitions, and collaborating to move our entire industry to do the same through initiatives like Commit for Our Planet.
Shimei Fan, Chief Scientific Officer
Commitment: Reduce greenhouse gas emissions
Coty recalculated its corporate footprint in 2021, following its separation with the Wella Company. This was the first step to be able to work on internal action plans and external, science-based carbon reduction targets.
Our GHG reduction targets have been approved by The Science Based Targets initiative. Coty commits to reduce absolute scope 1 and 2 GHG emissions 50% by 2030 from a 2019 base year*. Coty also commits to increase annual sourcing of renewable electricity from 5% in 2019 to 100% by 2030. Coty further commits to reduce absolute scope 3 GHG emissions 28% within the same timeframe.
We measure and report all our scope 1 and 2 emissions in our sustainability report, with limited scope 3 reporting. We share our full scope in our CDP reporting on a yearly basis.
*The target boundary includes biogenic emissions and removals from bioenergy feedstocks
Packaging plays an important role in protecting our products and informing our consumers, but it is also a significant hotspot of our environmental footprint. To minimize this footprint, we aim to use less and better packaging, focusing on four ‘Rs’: Reduce, Recycled, Recyclable, Reuse/Refill. In 2022, we put in place new packaging targets committing Coty to reducing our packaging and increasing our use of recycled content.
Through our responsible sourcing program, we aim to ensure we minimize the impact of our ingredients sourcing on people and planet. We pay particular attention to those raw materials which present the greatest potential risk for harmful impacts.
In addition, we recognize that water is both a critical input for our operations and an important planetary resource. We have a responsibility to reduce our water consumption wherever possible and are continuously working towards enhanced water efficiency. Through actions like on-site water recycling, equipment upgrades and internal engagement with our associates, we are reducing our water consumption and are becoming more efficient in our water use.