Estée Lauder announces Environmental, Social and Governance goals for 2025
Estée Lauder, the luxury cosmetics giant with a reputation for doing the right thing, is looking to advance its legacy of ethical action. In a recent announcement, the company has detailed additional Environmental, Social and Governance (ESG) goals, which it will seek to deliver by 2025. These goals concern its sourcing of raw materials, and are designed to make its already famously sustainable operations even more-so.
Estée Lauder’s share price has appreciated by 23% year to date
Source: Yahoo Finance
The actions Estée Lauder has promised to target include responsible sourcing of ingredients. The company is aiming to have 90% of its palm-based ingredients certified as sustainable by 2025. This will build on its net-zero carbon emissions promise, and its commitment to make between 75% and 100% of packaging “recyclable, refillable, reusable, recycled or recoverable,” – both of which are also deliverable by 2025. Alongside these goals, Estée Lauder said it was going to focus on ingredient transparency, employee safety, and “social investments”.
In a statement to the press, the company’s CEO, Fabrizio Freda, said: “Consumers and employees are increasingly drawn to purpose-driven brands and companies. We have a long history of giving back and improving the places where we live and work. We are proud of our many achievements in this area. We are taking our mission to a higher level and accelerating our ESG efforts by announcing new goals, which will be integrated into our strategy and our business operations.”
The company’s senior vice president of global corporate citizenship and sustainability, Nancy Mahon, added: “Our brands such as Aveda, M∙A∙C and Origins have historically been leaders in sustainability and citizenship and have a strong record of delivering meaningful impact to our consumers, employees and the communities in which we source and make our products. Our Company-wide ESG goals are part of our mission to create a more sustainable and beautiful world and underscore our deep commitment to innovate and embed sustainable principles and social purpose across every aspect of our business—for the long term.”
Dominion holds Estée Lauder in its Global Trends Luxury Fund.
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