Sustainability Challenges In The Beauty and Cosmetics Industry
Pressures around sustainability risks are intensifying on a global scale for the cosmetics industry. From raw materials such as mica and palm oil, to animal testing, and consumers’ use and disposal of packaging, the cosmetics supply chain has an impact across multiple stakeholders. Procurement and supply chain managers are facing urgent challenges to protect their brands and create new value for their organizations.
Customer health and safety
(use of chemical ingredients)
Human Rights (e.g. Mica mining)
Biodiversity/Animal welfare
Waste management & recycling
Retail customer transparency demands
Beauty/Cosmetics Industry Leaders Using EcoVadis Ratings
A Collaborative Initiative
Four of these industry leaders - Clarins, Coty, Groupe Rocher and L’Oréal - and EcoVadis have created the Responsible Beauty Initiative which aims to strengthen ethical, social and environmental performance and progress throughout the beauty supply chain.
Example Of Categories Assessed In The Cosmetics Industry
Solving A Challenging Problem
CSR surveys are a complex and time-consuming job. Suppliers are getting overwhelmed with questionnaire/audit fatigue, and often the data produced is not actionable by buyers, nor integrated into processes, and misses the value creation opportunity. This is the challenge EcoVadis is solving.
Buyers get: reliable indicators, turnkey program support, supplier onboarding, and a platform that scales globally. Suppliers get: globally recognized ratings, benchmarks & motivation to improve, and a scorecard they can share everywhere (and avoid redundant surveys!)
How EcoVadis Accelerates Procurement Value Creation
Reduce costs, scale quickly
-Cover 190+ spend categories and 150+ countries
-Save 80% in responsible sourcing program costs with mutualized platform
-Consolidate portfolios and reduce category management costs
Engage suppliers with mutual ROI
-Benchmarks & recognition medals motivate engagement
-Scorecard gives guidance on improvements
-Break through limitations of site audits and self-assessments
Drive performance, innovation revenue
-Leverage CSR ratings to:
-Select the best and most innovative suppliers
-Drive performance improvements
-Boost competitiveness in new categories
How do your sustainable supply chain practices compare? Benchmark now available:
Sustainable Procurement News for Beauty
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