Coty Expands Global Parental Leave Policy in FY23 Sustainability Report
Today, Coty Inc. (NYSE: COTY) announces a significant expansion of its global gender-neutral parental leave policy in its 2023 Sustainability Report (reported as July 2022 to June 2023). Grounded in Coty's Beauty That Lasts sustainability framework, the company continues to set new benchmarks, exceeding targets across its three pillars: Product, Planet, and People.
As part of its dedication to its People pillar, Coty expands its gender-neutral parental leave policy, established in 2022. The company sets a global minimum of 14 fully paid weeks for all employees, regardless of gender. This standard will be phased in, with all countries offering the new global minimum by the end of Coty's FY24. Guided by local regulations, Coty's parental leave policy champions gender equality in pay and workplace advancement worldwide.
Coty CEO Sue Nabi shares, "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. It is a point of pride for all of us at Coty."
Additional highlights from Coty's FY23 Sustainability Report include:
- Coty exceeds its SBTi1-approved Scope 1 and 2 emissions reduction targets, achieving an impressive 82% reduction, significantly overachieving the 50% target.
- Coty surpasses its energy reduction target, achieving a 23% energy reduction compared with its target of 20%.
- Coty factories and distribution centers also achieve their goals of zero waste to landfill and an 80% recycling rate ahead of 2030 schedule.
- Looking beyond 2030, Coty has committed to the SBTi to set long-term emissions reduction targets in line with science-based net-zero2.
- Coty drives sustainable actions across its portfolio by integrating innovative biotechnology into product formulas, launching new products crafted with 100% carbon-captured alcohol, and expanding its list of cruelty-free brands with philosophy and Monange achieving Leaping Bunny approval by Cruelty Free International.
- Coty introduces global sustainability training for all associates and restructures its corporate Sustainability Office with new leadership.
Please refer to Coty's Sustainability Report for more on Coty's FY23 sustainability milestones and its ESG Index for a comprehensive overview of Coty's ESG data and policies.
ABOUT COTY
Founded in Paris in 1904, Coty is one of the world's largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care. ?Coty serves consumers around the world, selling prestige and mass-market products in approximately 125 countries and territories. ?Coty and its brands empower people to express themselves freely, creating their own visions of beauty, and is committed to making a positive impact on the planet. For additional information about Coty Inc., please visit www.coty.com.
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1 Science Based Targets initiative.
2 Per the SBTi target setting process, Coty will set net zero-aligned targets by November 2025.
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