TARGETS:
Improve responsible sourcing and transparency in our supply chains by:
- Purchasing 100% mass balance-certified palm oil for our production sites by 2022 and our third-party manufacturers by 2025
- Ensuring 100% of Indian Mica is responsibly sourced by 2030*
* In 2021, in reflection of the impacts of Covid-19, the political climate, and a change of project scope, the Responsible Mica Initiative (RMI) has updated its 2022 target and aligned behind a new set of new ambitions for 2030. As a member of the RMI, Coty has correspondingly aligned our efforts towards these new 2030 ambitions.
Our products are made with ingredients sourced all over the world, so we recognize that our impact extends beyond our own operations. For Coty, responsible sourcing means actively sourcing products and services in an ethical, sustainable and socially conscious way. Our Responsible Sourcing Framework establishes key indicators to monitor progress in the management of our sourcing activities.
We require suppliers to adhere to our Code of Conduct for Business Partners (CoC), which sets out our expectations for anti-corruption, data privacy and human and labor rights, among other practices. Compliance with the CoC or agreed equivalent is a requirement of working with us, and we use several tools to audit and manage the risk of supplier non-compliance.
We pay particular attention to those raw materials which present the greatest potential risk for harmful impacts. We have been a member of the Roundtable for Sustainable Palm Oil (RSPO) since 2017, and are working towards purchasing 100% mass balance-certified palm oil for our production sites and third-party manufacturers. As part of our commitment to improve transparency in our supply chains, we also
publish the list of business partners supplying Coty materials containing palm oil derivatives. This list represents the majority of our business partners and will evolve over time as we continue to engage with suppliers on this topic. We are a founding and Board member of the Responsible Mica Initiative: a multi-stakeholder action group aiming to establish a 100% sustainable Indian mica supply chain, free from child labor.
We also work collaboratively with organizations including: AIM-Progress, a network of businesses dedicated to promoting responsible sourcing practices; and we are a founding member of the Responsible Beauty Initiative (RBI), a beauty industry effort to improve sustainability across supply chains by sharing best practices and processes.
To find out more about our responsible sourcing practices,
see here.
✓ Limited assurance provided by KPMG