Coty Announces its Sustainability Strategy
Coty Inc.
Coty has revealed its sustainability strategy, Beauty That Lasts, outlining its commitment to becoming a leader in sustainability and inclusivity.
Launched in February 2020, the strategy is based on the United Nations' Sustainable Development Goals and focuses on three pillars: People, Product, and Planet.
Sue Y. Nabi, CEO of Coty, expressed her vision of a purpose-driven company that embraces diverse beauty expressions. The Beauty That Lasts initiative will drive Coty's Environmental, Social, and Governance (ESG) agenda, positioning the company as a frontrunner in sustainability.
Under the pillar of Product, Coty emphasises product innovation with sustainability and the circular economy in mind. The company integrates sustainability into its product creation, from design and development to material sourcing, aiming to address social and environmental challenges effectively.
Coty is committed to innovation that promotes sustainability. It is revolutionising its design, formulation, and manufacturing processes to develop innovative products while improving its sustainability performance.
Responsible Sourcing is another important aspect of Coty's sustainability strategy. The company strives to create long-term environmental, social, and economic value by sourcing ingredients globally and minimising negative impacts along the supply chain.
The Beauty of our planet is a crucial consideration for Coty. The company acknowledges the urgency of taking climate action and actively works to reduce its environmental footprint. Waste management and disposal are handled responsibly, and efforts are made to minimise water consumption and protect biodiversity.
Creating a more inclusive business and society is a key focus of the Beauty That Lasts strategy. Coty aims to foster an inclusive culture where associates can be their authentic selves, strengthening the company as a whole. Its brands play a role in challenging stereotypes, championing individuality, and promoting self-expression.
It celebrates diversity through its People & Culture initiatives, striving for inclusivity in all aspects of the business. The company is committed to ensuring the safety, well-being, and development of its associates both at work and in their personal lives.
The company recognises the importance of its brands' impact on communities. By empowering people to express themselves and redefining beauty standards, Coty adds value to the communities it serves. Its Responsible Marketing Policy and diversity guidelines guide brand marketing efforts and product creation.
To drive progress, it has established time-bound targets within each pillar of its sustainability strategy. The company continuously reviews and reinforces its corporate strategy to adapt to changing social and environmental landscapes and meet stakeholder expectations. The annual Sustainability Report tracks Coty's progress in achieving its goals.
Source: DEFNI Online
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