“We want to ensure our business is ready to compete in a more circular economy and to benefit from a more inclusive society,” said Pierre Laubies, Coty, CEO. “We have seen huge interest and momentum from our associates, consumers and customers in these areas. We believe that by confirming targets, we will inspire action; and these goals will allow us to play a role alongside our peers to deliver meaningful impact in our industry.”
This year Coty implemented a newly created product sustainability index which will ensure its brands and designers make informed choices for all new product developments. This approach was piloted with launches such the weDo Professional eco-ethical line of haircare products, and CK Everyone, a gender-free, clean and environmentally conscious fragrance, Coty noted.
Coty said that responsible sourcing of ingredients remains a priority as well. For example, greater traceability of Indian mica is a step to achieve 100% responsible sourced supply. As one of the founding members of the Responsible Mica Initiative, Coty will continue its work to ensure that Mica exports are fully traceable to source mines and processing units.
As of 2020, Coty said it will include sustainability criteria in the conception of all new products and share progress on its high profile ingredient management process.
By 2022, Coty said it will Improve responsible sourcing and transparency in its supply chains, including:
• Aim to purchase 100% mass balance certified palm oil for our production sites
• 100% responsibly sourced Indian mica.
By 2025, Coty said 100% of the packaging for new products will include recycled material or be recyclable, reusable or compostable.
Coty also plans to further protect and conserve natural resources to achieve a healthy, clean and safe environment. Against a 2017 baseline, the company has already reduced the combined scope of emissions from offices, factories and distribution centers by 21%, and reduced total building energy consumption by 19%.
By 2030, it plans to:
• Reduce absolute CO2 emission across the entire value chain by 30%
• Continue energy reduction by 25% and switch to 100% renewable energy
• Further reduce, reuse of recycle, sending zero waste to landfill and recycling 80% waste generated.
Coty’s plan also addresses diversity and inclusion. The company has continued its partnership with the international advocacy group Global Citizen since 2017 to fight prejudice and discrimination. As of December 31, 2019, over 200,000 actions have been taken in support of Coty sponsored campaigns.
By 2025, the company plans to accelerate the inclusive training of its teams and maximize its diversity; commit to gender balance in our leadership positions; broaden the measurement and reduction of gender pay gaps; continue to support Charter for Change; ensure 95% of associates complete compliance training annually; mobilize 500,000 Global Citizen Actions behind Coty campaigns.
The company plans to report progress annually.