The FINANCIAL — The Estée Lauder Companies (ELC) has been recognized by global environmental non-profit CDP as a leader on corporate climate action by achieving the highest score of A for its climate change disclosure. ELC’s placement on the prestigious CDP A List is a notable improvement of its A- score in 2019. This achievement is a testament to rapid progress made this year against the company’s 2020 climate goals, including achieving Net Zero carbon emissions and 100% renewable electricity globally for its direct operations, and setting science-based targets for its value chain.
“Climate change is one of the most important issues facing our communities around the world. The Estée Lauder Companies is committed to partnering with our employees, consumers and business partners to accelerate the transition to a low-carbon economy by reducing our carbon footprint and investing in green energy solutions,” said Fabrizio Freda, President and Chief Executive Officer, The Estée Lauder Companies. “Our continued focus on environmental disclosure and transparency, as well as our setting of new science-based targets, will deepen the impact of our efforts to combat climate change in this critical decade for the planet. As a global corporate citizen committed to climate action, The Estée Lauder Companies is incredibly honored to see its efforts recognized in CDP’s Climate A List.”
ELC was scored alongside 5,800+ other companies who disclosed their environmental impact, joining the top 5% of high-performing companies on the A List. This milestone can be attributed in part to ELC’s new climate targets, which build on its history of managing with a lens for the long-term while focusing on the needs of future generations. These targets address Scopes 1, 2, and 3 emissions and have been independently validated and approved by the Science Based Target initiative (SBTi). As ELC progresses toward these ambitious targets, it will continue its efforts to deliver sustainable innovation and joint value creation, solidifying its standing as a leader in corporate transparency and climate action.
Paul Simpson, CEO of CDP, said: “We extend our congratulations to all the companies on this year’s A List. Taking the lead on environmental transparency and action is one of the most important steps businesses can make and is even more impressive in this challenging year marked by COVID-19. The scale of the risk to businesses from climate change, deforestation and water insecurity is enormous, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector will create an ‘ambition loop’ for greater government action and ensure that global ambitions for a net zero sustainable economy become a reality. Our A List celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today.”
CDP is a leading framework for disclosing climate-related information to the public. ELC has submitted written responses to the CDP Climate Change questionnaire for over ten years, providing information about the company’s impact on climate change.
For more information on ELC’s commitments and targets on climate, visit the company’s fiscal year 2020 Citizenship & Sustainability Report.
To view the full list of companies that made this year’s CDP A List, along with all other public company scores, visit the CDP’s website.
About The Estée Lauder Companies Inc.
The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, M·A·C, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone London, Bumble and bumble, Michael Kors, Darphin, Tom Ford, Smashbox, Ermenegildo Zegna, AERIN, RODIN olio lusso, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, BECCA, Too Faced and Dr. Jart+.
About CDP
CDP is a global non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with institutional investors with assets of US$106 trillion, CDP leverages investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 9,600 companies with over 50% of global market capitalization disclosed environmental data through CDP in 2020. This is in addition to the hundreds of cities, states and regions who have disclosed, making CDP’s platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP is a founding member of the We Mean Business Coalition. Visit https://cdp.net/en or follow @CDP to find out more.
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