In the latest episode of the ESG Talk Climate Week series, Nancy Mahon, the chief sustainability officer of the Estée Lauder Companies, sat down with host Alyssa Zucker to delve into the company’s approach to measuring and reporting Scope 3 emissions. The conversation touched upon the influence of consumer sustainability preferences and the unique hurdles faced when spearheading sustainability initiatives across a diverse range of brands.
Mahon highlighted the importance of taking into account Scope 3 emissions, which encompass indirect emissions that occur in the value chain of the company. These emissions can stem from sources such as purchased goods and services, transportation, and waste generated throughout the lifecycle of a product. By addressing Scope 3 emissions, companies like Estée Lauder can gain a holistic view of their environmental impact and identify areas for improvement.
One key point of discussion was the impact of consumer preferences on sustainability initiatives. As more consumers prioritize eco-friendly practices and products, companies are under increasing pressure to reduce their carbon footprint and operate in a more sustainable manner. Mahon emphasized the need for transparency and accountability in reporting environmental metrics to meet the expectations of environmentally conscious consumers.
Managing sustainability efforts across a diverse portfolio of brands presents its own set of challenges. Each brand may have its own supply chain, production processes, and environmental footprint, requiring tailored approaches to address sustainability goals effectively. Estée Lauder’s commitment to sustainability extends to all its brands, ensuring that each one contributes to the company’s overall environmental objectives.
The ESG Talk podcast, sponsored by Workiva, provides a platform for discussions on environmental, social, and governance topics, offering insights from industry leaders like Nancy Mahon. Workiva, known for its unified platform for financial reporting, ESG, audit, and risk, supports initiatives that promote transparency and accountability in sustainability practices.
For more in-depth discussions on ESG topics, listeners can subscribe to the ESG Talk podcast on popular platforms like Apple, Spotify, and YouTube. The podcast offers a wealth of information on best practices, emerging trends, and industry insights to help organizations navigate the complex landscape of sustainability and corporate responsibility.
In conclusion, the conversation between Nancy Mahon and Alyssa Zucker sheds light on Estée Lauder’s proactive approach to addressing Scope 3 emissions and fostering sustainability across its diverse brand portfolio. By prioritizing transparency, accountability, and consumer preferences, the company sets a precedent for sustainable business practices in the beauty industry and beyond.