e.l.f. Beauty (NYSE: ELF) is proud to release its second annual
Impact Report, detailing its environmental, social, and governance
(ESG) initiatives and accomplishments in the last fiscal year (FY
2023). The 2023 Impact Report shows e.l.f. Beauty’s deep, ongoing
commitment to create a culture internally – and in the world around
us – where all individuals are encouraged to express their truest
selves, are empowered to succeed, and where we strive to do the
right thing for the people, the planet and our furry friends.
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the full release here:
https://www.businesswire.com/news/home/20230921687599/en/
“Our latest Impact Report demonstrates how we are creating a
different kind of beauty company—one that is both purpose-led and
results-driven” said Tarang Amin, e.l.f. Beauty's Chairman and
Chief Executive Officer. “In FY 2023, we acted with purpose and
took action to empower our communities and employees, further our
sustainability initiatives and reduce our environmental footprint.
At the same time, we delivered exceptional business results,
reaching over $500 million in net sales and producing 219% total
shareholder return (TSR) this past fiscal year. I am proud of the
e.l.f. Beauty team for the milestones we’ve achieved and look
forward to continuing to share our progress as we strive to make
the best of beauty accessible for all.”
Driving Positive Change
Positivity, inclusivity and accessibility guide our actions at
e.l.f. Beauty. Through a system of shared values and a deep
commitment to diversity and inclusion, e.l.f. Beauty celebrates the
beauty of every eye, lip and face. The 2023 Impact Report details
e.l.f. Beauty’s purpose-driven actions across three pillars:
Encouraging Self Expression, Empowering our Communities and
Embodying our Ethics.
The results of these actions over the last fiscal year
include:
- Ranking as 1 of only 4 U.S. public companies with a Board of
Directors that is at least 2/3 women and at least 1/3 diverse (out
of nearly 4,200 public companies)
- Scoring in the top 10% of ESG Ratings for Personal Products
companies, according to Sustainalytics (as #7 out of 75)
- Reporting 91% overall employee engagement—19ppts above the
industry benchmark and 2ppts above last year’s survey
- Donating 3% of our prior year profits to drive positive impact
in our communities
- Reformulating an additional 300 SKUs to meet our standards of
“e.l.f. clean” to exclude several additional ingredients beyond the
Food and Drug Administration (FDA) and European Union Cosmetic
Regulation (EUCR) restrictions
- Producing more than 75% of our products in Fair Trade
CertifiedTM facilities
- Eliminating 2.5 million pounds of excess packaging since
2019
- Sourcing 75% of our paper product cartons using
Forest-Stewardship CouncilTM (FSC)-certified paper
- Reducing our Scope 1 and 2 greenhouse gas (GHG) emissions by
94% vs. a FY 2022 baseline—meeting our science-based target of at
least a 42% reduction by 2030
Growing the Mission for Greater Ongoing Impact
e.l.f. Beauty strives to create a better world for people, the
planet and our furry friends. Looking ahead, we have announced new
commitments that reflect our ambitions to continue to drive
positive impact, including:
- Broadening our leadership team to further reflect the
diverse communities we serve. We are proud to have a Board of
Directors that is 2/3 women—putting us in the top 0.3% of U.S.
public companies in Board gender diversity—and aspire to continue
to rank in the top 1%. We currently have an employee base that is
over 70% women and over 40% diverse. Our leadership team is 68%
women and 29% diverse and we aspire to have a leadership team
(director level and above) that is in line with our broader
employee demographics.
- Providing resources that directly empower our communities
and employees. We aspire to donate 2% of our profits each year
to drive positive impact in our communities. We also aspire to keep
our employees committed to our vision, mission and values—aiming to
continue to have our overall employee engagement score at least 10
percentage points above the industry benchmark.
- Expanding our commitment to responsibly source materials and
ingredients. Building on last year’s commitment to have 100% of
our paper product cartons be Forest-Stewardship Council
(FSC)-certified by FY 2025, we plan to have 100% of our wood brush
handles become FSC-certified by FY 2025. In addition, we aim to
achieve 100% Roundtable for Sustainable Palm Oil Sourcing
(RSPO)-certified palm oil procurement by FY 2027.
- Increasing partnerships with sustainable suppliers. We
are the first beauty company to be Fair Trade CertifiedTM and plan
to continue to have over 75% of our products produced in Fair Trade
CertifiedTM facilities. Additionally, our suppliers’ average
EcoVadis sustainability score is 19 percentage points above the
overall EcoVadis average (across its network of ~100,000 global
measured suppliers), and we aspire to continue to maintain a well
above average score.
- Further reducing our packaging footprint and carbon
footprint. We aspire to reduce our packaging intensity by 20%
by FY 2030. In FY 2023, we met our science-based target for
reducing our Scope 1 and 2 emissions, and plan to set science-based
targets for our Scope 3 emissions through the Science Based Targets
initiative.
“Our new commitments signal a step change in our sustainability
ambitions and our intent to continue to drive positive impact in
the world around us,” said Ellen Leung, e.l.f. Beauty's Vice
President of Sustainability. “By continuing to be intentional in
how we live our purpose and values, we hope to inspire our
employees, communities and partners to join our journey to create a
more inclusive and accessible beauty industry.”
For more information and to view e.l.f. Beauty’s FY 2023 Impact
Report, visit https://www.elfbeauty.com/social-impact/.
Virtual Fireside Chat on ESG, Purpose & Impact, Hosted by
Raymond James – September 29 at 11:00AM ET
e.l.f. Beauty will participate in a virtual fireside chat on
Friday, September 29 at 11:00am Eastern Time, to provide additional
insight on the Company’s ESG initiatives and discuss how e.l.f.
Beauty is establishing itself as a leader in both purpose and
impact. The fireside chat will be hosted by Olivia Tong, Managing
Director at Raymond James.
To register for the live webcast of the fireside chat, please
visit https://investor.elfbeauty.com/news-and-events/events.
About e.l.f. Beauty
e.l.f. Beauty, Inc. builds brands designed to disrupt industry
norms, shape culture and connect communities through positivity,
inclusivity and accessibility. Our deep commitment to clean,
cruelty-free beauty at an incredible value has fueled the success
of our flagship brand e.l.f. Cosmetics since 2004 and driven our
portfolio expansion. Today, our multi-brand portfolio includes
e.l.f. Cosmetics, e.l.f. SKIN, pioneering clean-beauty brand Well
People and Keys Soulcare, a groundbreaking lifestyle beauty brand
created with Alicia Keys. Our family of brands is available online
and across leading beauty, mass market and specialty retailers in
the U.S., and has a growing international presence.
Learn more by visiting https://investor.elfbeauty.com.
Note
This press release, the 2023 Impact Report, and the Company’s
corporate responsibility/sustainability portions of its website
contain forward-looking statements within the meaning of the
federal securities laws, including those statements relating to the
Company’s future ESG commitments, initiatives and goals. Although
the Company believes that the expectations reflected in the
forward-looking statements are reasonable, actual results and the
timing of selected events may differ materially from those
expectations. Factors that could cause actual results to differ
materially from those in the forward-looking statements include,
among other things, the risks and uncertainties that are described
in the Company's most recent Annual Report on Form 10-K, as updated
from time to time in the Company's reports filed with the
Securities and Exchange Commission (the “SEC”).
Additionally, the Company’s approach to the disclosures included
in this press release, the 2023 Impact Report, and the Company’s
corporate responsibility/sustainability portions of its website may
differ from the Company’s approach to the disclosures included in
mandatory regulatory reports, including filings with the SEC. This
press release, the 2023 Impact Report, and the Company’s corporate
responsibility/sustainability portions of its website are intended
to provide information from a different perspective and, in certain
cases, in more detail than that required to be included in the
Company’s filings with the SEC. Climate related science, data and
methodologies are rapidly evolving; those underlying the Company’s
climate-related analysis and strategy remain subject to evolution
over time. As a result of improvements to the quality and
completeness of the Company’s data and updates to the Company’s
methodology over time, the Company may include information in
future disclosures that differ from those contained in this press
release, the 2023 Impact Report, and the Company’s corporate
responsibility/sustainability portions of its website.
This press release, the 2023 Impact Report, and the Company’s
corporate responsibility/sustainability portions of its website
contain third-party data. The Company has not independently
verified this third-party data.
Potential investors are urged to consider these factors
carefully in evaluating the information included in this press
release, the 2023 Impact Report, and the Company’s corporate
responsibility/sustainability portions of its website (including
forward-looking statements). Unless otherwise specified, all
information included in this press release, the 2023 Impact Report,
and the Company’s corporate responsibility/sustainability portions
of its website (including forward-looking statements) speaks only
as of the date hereof. Except as required by law, the Company
assumes no obligation to update or revise any information
(including forward-looking statements) contained in this press
release, the 2023 Impact Report, and the Company’s corporate
responsibility/sustainability portions of its website for any
reason, even if new information becomes available in the
future.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230921687599/en/
Investors: KC Katten VP, Corporate Development & Investor
Relations, e.l.f. Beauty kkatten@elfbeauty.com
Media: Melinda Fried Head of Corporate Communications, e.l.f.
Beauty mfried@elfbeauty.com
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