Coty Announces New Near-Term Reduction Targets for GHG, Carbon Foot Print

Coty Inc. has released its sustainability report for the 2022 fiscal year. It outlines the progress made in advancing Coty’s corporate sustainability strategy, Beauty That Lasts, from July 2021 to June 2022.

“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,” said Coty CEO Sue Y. Nabi.

Coty has new near-term reduction targets for greenhouse gas emissions (GHG), approved by the Science Based Targets initiative. The Happi Top 50 company says it 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

More Milestones

In FY22 Coty reached its goal of sending zero waste to landfill from its factories and distribution centers. The company said it is ahead of schedule to meet its recycling goal, achieving 79.8% against its 80% by 2030 target.

In addition, Coty said it has achieved its goal to pay equitably for similar roles and performance, regardless of gender, by 2022. Coty has also launched a new global gender-neutral parental leave policy, providing access to fully paid leave for all associates starting or growing their families.