Coty has exceeded its emissions reduction targets for 2023, as revealed in its FY23 Sustainability Report.
The milestone builds on the brand owner’s ‘Beauty That Lasts’ sustainability framework launched in 2020, which is centred around three target pillars: Product, Planet and People.
Under its Planet framework, the business reported an 82% reduction in Scope 1 and 2 emissions, which it said is a “significant” increase on its 50% target for the year.
Scope 1 refers to direct emissions from vehicles and fuel usage, while Scope 2 encompasses indirect emissions created through heat, electricity, cooling or steam.
Sue Nabi, CEO of Coty, said the business is also working on reducing its Scope 3 emissions, generated from the value chain of a company, but stressed this is the “hardest” category to tackle.
“We are putting concerted effort and resources towards this commitment,” she continued.
“In FY24, we will be introducing launch acceptance criteria for product innovation, helping to accelerate Scope 3 reduction.”
The business also surpassed its energy reduction target, achieving a 23% energy reduction compared with its target of 20%.
At least 94% of the business’ electricity was sourced from renewable sources in 2023.
Additionally, Coty has expanded its global gender-neutral parental leave policy, offering 14 weeks of fully paid leave for all global employees regardless of gender.
This policy will be fully phased in by the end of the 2024 financial year.
“Aligned with our broader sustainability goals across Product, Planet, and People, our expanded gender-neutral parental leave policy underscores our holistic approach to sustainability for long-term success,” said Nabi.
Coty’s first fragrance manufactured using 100% carbon-captured alcohol was also released this year.
The Where My Heart Beats edp forms part of Gucci’s The Alchemist’s Garden collection.
The Covergirl-owner said its next goal is to reduce the amount of virgin plastic it uses.
“We have been working to remove plastic from our gift sets and have now replaced most plastic vacuum formed trays and dust lids with board and paper materials,” the company said in a statement.
In June 2023, the business said it also switched from a plastic blister pack to a new paperboard outer pack for all its Bourjois make-up collections in France.
“My vision for Coty is a purpose-driven company that reflects the communities we are part of, celebrating all the expressions of beauty that exist and that will exist,” added Nabi.