11.28.23
Coty Inc. has announced a significant expansion of its global gender-neutral parental leave policy in its 2023 Sustainability Report.
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.
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.
"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,” said Coty CEO Sue Nabi.
Highlights from Coty’s FY23 Sustainability Report
Coty said it exceeds its SBTi1-approved Scope 1 and 2 emissions reduction targets, achieving an impressive 82% reduction, significantly overachieving the 50% target. The company surpasses its energy reduction target, achieving a 23% energy reduction compared with its target of 20%.
Company factories and distribution centers also achieve its 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-zero. With that, Coty is driving 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, achieving Leaping Bunny approval by Cruelty Free International.
Coty has also introduced global sustainability training for all associates and restructures its corporate sustainability office with new leadership.