Climate Leadership in the Beauty and Personal Care Industry
EVP, Public Affairs & Communications, Personal Care Products Council
This week, CDP (formerly known as the Carbon Disclosure Project), one of the most comprehensive and globally respected sustainability reporting platforms, released the 2020 scores for disclosures on climate change management. More than 9,600 companies – a record number – disclosed their performance and progress, a 17% increase over last year and a 70% increase since the signing of the Paris Accord in 2015.
With the publication of CDP’s annual scores, stakeholders can learn more about how companies are incorporating sustainability into their business strategy and practices, as well as how they are addressing climate change. Scores are awarded from A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks. The scores also consider best practices associated with environmental leadership, such as setting ambitious and meaningful targets. CDP measures performance on climate change, forests and water security.
Of the companies reporting to CDP this year, 270 achieved CDP’s climate change “A” list, compared to 179 in 2019. Several members of the Personal Care Products Council (PCPC) – Beiersdorf, Colgate-Palmolive Company, The Estée Lauder Companies, Firmenich, Givaudan, International Flavors & Fragrances, Johnson & Johnson, Kao Corporation, Kering, L’Oréal, Symrise and Unilever – were among the companies with the highest scores.
CDP, the gold standard in environmental reporting, presents several benefits to companies disclosing their environmental impact. Companies can build stakeholder trust through greater transparency and enhance their reputation by responding to public concerns about the environment. The process of reporting also helps companies identify emerging environmental risks and opportunities and stay ahead of regulatory reporting requirements. Action on environmental management is desperately needed.
In September, a new multi-agency report from leading science organizations, United in Science 2020, was released and indicated that although emission saw a temporary decline attributed to the pandemic lockdown, greenhouse gas concentrations in the atmosphere are at record levels and continue to rise. The report also acknowledges that the world has seen its warmest five years on record and is not on track to meet agreed targets to keep global temperature increase well below 2 °C, or at 1.5 °C above pre-industrial levels as deemed critical in the Paris Accord. Climate change is impacting all eco-systems, from mountains to oceans, accelerating sea-level rise and posing a significant threat to human life.
We cannot wait for government to lead the way on climate change. The private sector has a fundamental role to play in reducing GHG emissions, and I am proud to be part of an industry that is leading the way.