NEW YORK-- November 18, 2022 -- Today, Coty Inc. (NYSE: COTY) releases its Sustainability Report for the 2022 fiscal year. The report 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,” shares Coty CEO Sue Y. Nabi.
A complete view of Coty’s sustainability activities in FY22 can be found in the full report. (
https://bit.ly/3tzvQYC) Highlights include:
New environmental commitments
· Coty shares new near-term reduction targets for greenhouse gas emissions (GHG), approved by the Science Based Targets initiative (SBTi). Coty 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
Waste commitments
In FY22 we reached our goal of sending zero waste to landfill from our factories and distribution centers, and are ahead of schedule to meet our recycling goal, achieving 79.8% against our 80% by 2030 target.
Delivering on gender equity
· Coty is pleased to announce it has achieved its goal to pay equitably for similar roles and performance, regardless of gender, by 2022.
· Coty has launched a new global gender-neutral parental leave policy, providing access to fully paid leave for all associates starting or growing their families.
Coty is also proud to have driven sustainable product innovations across its brands. The new Chloé Naturelle Intense is the first re-fillable fragrance in the Coty portfolio. For the launch of the new Adidas Active Skin & Mind range of shower gels, the company prioritized the use of PCR - the bottle is made from 99.8% PCR and the cap is 48% PCR. The range also features Coty’s first refillable body care solutions and more than an 18% packaging weight reduction vs. the brand's original baseline body care range. Coty has also expanded its cruelty free offering with Rimmel, Manhattan and Risqué recently joining COVERGIRL in achieving Leaping Bunny approval by Cruelty Free International.
Chief Scientific Officer Dr. Shimei Fan says, “This has been an exciting year for Coty’s sustainability journey, and I am so proud of our achievements on gender equity and our new carbon and packaging commitments. Coty is disrupting beauty standards and we are taking the same approach to our sustainability ambitions. I truly believe we will be able to lead the way and create meaningful change in our industry.”
[*]The target boundary includes biogenic emissions and removals from bioenergy feedstocks.
[**] Across Coty, an average of a 20% reduction in packaging gram per milliliter of product manufactured. The target is set against Coty’s 2019 calendar year baseline.
