Momentum for the 1.5 degree target of Beauty Player cosnova

cosnova is on a dedicated path to sustainability. Now, the European market leader for decorative cosmetics in terms of volume is taking an important step forward: The company's ambitious climate targets, which are based on the Paris Climate Agreement, were confirmed by the Science Based Targets initiative (SBTi) in December.

In order to further expand its ambitious commitment to climate protection, the international cosmetics company cosnova joined the Science Based Targets initiative (SBTi) about two years ago. This independent initiative supports the private sector in setting emission reduction targets in line with science and the goals of the Paris Agreement. By joining, member companies commit to developing their own science-based climate strategies. SBTi has now scientifically verified and accepted the emission reduction targets developed together with cosnova's long-standing climate protection consultant, ClimatePartner. "We are delighted that our ambitious and scientifically based emission reduction targets have been confirmed by the initiative – and thereby also cosnova's commitment to the 1.5 degree target of the Paris Climate Agreement," emphasises Maximilian Peters, Expert Corporate Responsibility at cosnova.

cosnova commits to ambitious CO2-reduction targets

The decorative cosmetics specialist does not do things by halves: In line with the recommendations of the Greenhouse Gas (GHG) Protocol, cosnova's climate strategy takes into account all three scopes for corporate greenhouse gas emissions (Scope 1-3). Scope 1 covers a company's direct sources of emissions. These include vehicle fleets and energy sources operated by the company's own sites. The other scopes include emission sources over which companies have an indirect influence: Purchased energy such as electricity and district heating (Scope 2) and activities in the upstream and downstream value chain (Scope 3). The latter refers to emissions caused by the purchase and sale of goods and services.

Specifically, the plans adopted by cosnova mean that the company's absolute emissions must be reduced by 55 percent by 2032 compared to 2019 (Scope 1-2). In addition, absolute emissions from inbound and outbound transport, business travel and employee commuting are to be reduced by 33 percent by 2032 (Scope 3). The external supply chains of business partners are also included: 66 percent of goods and service providers and 90 percent of freight forwarders must commit to complying with the SBTi targets defined by cosnova by 2027 (Scope 3).

Now comes the action: cosnova is introducing the next steps to translate the requirements into daily procedures. SBTi will review progress at regular intervals to ensure that the five- and ten-year reduction targets are met.

"The biggest sources of emissions at cosnova are our logistics and packaging," explains Maximilian Peters. "We will now tackle these areas to make all of our company's activities, products and supply chain even more climate-friendly."

"Climate & Environment" as one of our five pillars of sustainability

The independently assessed climate strategy confirms cosnova's extensive climate protection measures. In addition to "Climate & Environment", the corporate responsibility of the global beauty player from Sulzbach near Frankfurt is based on four other pillars: the harmlessness of the products, waste avoidance (zero waste), working conditions and social initiatives. The goals cosnova is striving for in each of these areas and what has already been implemented can be found in the recently published "CR Highlights Report 2021":

A strong alliance for economically sustainable climate protection

By joining the Science Based Targets initiative, cosnova is making it clear that it takes the goals of the Paris Climate Agreement very seriously. SBTi is an alliance of the international organisations Carbon Disclosure Project (CDP), UN Global Compact, World Resources Institute (WRI) and World Wide Fund for Nature (WWF). Since 2015, the alliance has been assessing and certifying science based targets voluntarily set by its member companies. The goal of this independent initiative is for business to help keep global temperature rise well below two degrees.

Together with WWF Germany, cosnova has also been setting an example for marine protection for approximately two years. As a partner in the fight against plastic waste, the beauty player supports the nature conservation organisation in implementing project models for waste management systems in South East Asia. In return, WWF Germany acts as a sparring partner for the company and supports cosnova, for example, in the further development of strategies for the recyclability of its products.