Coty Inc. has announced its updated sustainability platform, “Beauty that Lasts,” with goals focusing on three pillars: ‘The Beauty of our People’, ‘The Beauty of our Products’ and ‘The Beauty of our Planet’.
The sustainability platform is part of the company’s plan to build a better business while making a positive contribution towards societal, ethical and environmental change within the beauty industry. This step reinforces Coty’s continued support of the UN Global Compact Ten Principles which was announced five years ago. “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.”
“Beauty that Lasts” Sustainability Platform - The Beauty of our PRODUCTS
Coty’s goal is to drive product innovation with sustainability in mind. This year the company implemented a newly created product sustainability index which will ensure its brands and designers make informed choices for all new product developments. The approach was piloted with launches such as the weDo Professional, an eco-ethical line of haircare products, and CK Everyone, a gender-free, clean and environmentally conscious fragrance.
Responsible sourcing of ingredients remains a priority. 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.
The Beauty of our PLANET
The company’s goal is to do our part to protect and conserve natural resources to achieve a healthy, clean and safe environment. Against a 2017 baseline, Coty has already reduced the combined scope of emissions from offices, factories and distribution centres by 21%, and reduced total building energy consumption by 19%.
The Beauty of our PEOPLE
Coty is committed to diversity, inclusion and belonging. 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. The company plans to report progress annually which can be found here: UNGC Report.
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