COTY INC.
NEW YORK, NY
- Coty, Inc. (NYSE: COTY) today released its 2021 Sustainability Report [hyperlink to FY 2021 report]. In the report, Coty shares its progress in advancing the company's dedicated sustainability strategy, Beauty That Lasts, during Coty's 2021 financial year ("FY21") from July 2020 to June 2021. Launched in 2020, Coty's Beauty That Lasts efforts are organized into three pillars that aim to enhance: 'The Beauty of our Products', 'The Beauty of our Planet', and 'The Beauty of our People'. "This has been a year of progress at Coty. We have developed products that are cleaner and greener, paving the way towards significant environmental impact reduction, and became a more equitable and desirable place to work," said Coty CEO Sue Y. Nabi. "Across Coty, we are meeting the complex environmental and social challenges before us with a spirit of innovation, which will make us even more relevant to our customers and consumers. Our partnership with LanzaTech to upcycle captured carbon emissions into ethanol for use in perfume, thereby significantly reducing our environmental impact, is a great example of that." Across the three pillars of Beauty That Lasts, Coty's FY21 sustainability highlights included:
- Coty, Inc. (NYSE: COTY) today released its 2021 Sustainability Report [hyperlink to FY 2021 report]. In the report, Coty shares its progress in advancing the company's dedicated sustainability strategy, Beauty That Lasts, during Coty's 2021 financial year ("FY21") from July 2020 to June 2021. Launched in 2020, Coty's Beauty That Lasts efforts are organized into three pillars that aim to enhance: 'The Beauty of our Products', 'The Beauty of our Planet', and 'The Beauty of our People'. "This has been a year of progress at Coty. We have developed products that are cleaner and greener, paving the way towards significant environmental impact reduction, and became a more equitable and desirable place to work," said Coty CEO Sue Y. Nabi. "Across Coty, we are meeting the complex environmental and social challenges before us with a spirit of innovation, which will make us even more relevant to our customers and consumers. Our partnership with LanzaTech to upcycle captured carbon emissions into ethanol for use in perfume, thereby significantly reducing our environmental impact, is a great example of that." Across the three pillars of Beauty That Lasts, Coty's FY21 sustainability highlights included:
The Beauty of Our Products
- Meeting Coty's commitment to incorporate sustainability criteria into the development of all new products through the application of Coty's Beauty That Lasts Index, a qualitative tool for evaluating the social and environmental profile of new products
- Leveraging the best that nature and science have to offer through green science to ensure Coty is at the forefront of sustainable innovation
- Building on CoverGirl's strong heritage as the inventor of clean makeup, Coty has developed an internal clean list that goes beyond regulatory requirements. Clean beauty efforts at Coty are underpinned by specific reformulation roadmaps for each product category
- Implementing a new Responsible Sourcing Framework that formalizes key internal indicators to monitor progress in the management of Coty's sourcing activities
- Partnering with LanzaTech, a leader in the production of next generation green and sustainable ingredients, to introduce sustainable ethanol made from captured-carbon emissions into Coty's fragrance products, significantly reducing their environmental impact. Coty targets having the majority of its fragrance portfolio using ethanol sourced from carbon-capture by 2023
- Completing an elaborate footprint study to determine Coty's baseline environmental impact and to inform the setting of science-based emissions reduction targets, aligned to the Science Based Targets Initiative
- Making progress against its commitment to pay equitably for similar roles and performance, regardless of gender, by 2022. Early internal results show Coty is well on track to reach this ambitious target.
- Strengthening its senior leadership team with new appointments in FY21, with the Executive Committee majority female, the Board of Director evenly gender-split
- Launching a global Diversity, Equity, and Inclusion (DE&I) training curriculum in FY21 to foster inclusion and celebrate diversity, in line with its previously communicated target, and introducing Employee Resource Groups (ERGs) as a platform to drive DE&I action by associates. Coty is committed to the expansion of its ERG network
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Coty Inc. published this content on 16 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2021 17:46:07 UTC.
