We recognize that urgent action is needed from all sectors to address global climate change.
In 2022, Coty set Science Based Targets initiative (SBTi)-approved short-term emissions reduction targets for our Scopes 1, 2 and 3. Our focus now is on implementing transition plans across three key hotspots: our product impact, our transportation, and the impact of our own operations. We are continuously looking to better our scope 3 reporting and governance, working with our partners across the value chain to do so.
We are committed to participating in initiatives to improve transparency around our business response to climate change, including climate governance and business resilience. We publicly report on our climate strategy and our response to climate change annually through the CDP. This reporting includes physical and transitional climate-related risks and opportunities. These are also acknowledged as key risk factors in our annual financial reporting and are part of our company-wide risk process.