Estee Lauder releases Fiscal Year 2023 Social Impact and Sustainability Report; company also publishes its Climate Transition Plan, outlining a roadmap to achieving its fiscal 2030 climate targets

Also released today is ELC’s second Climate Transition Plan which reflects ELC’s efforts to proactively disclose the company’s efforts to help address climate change and provides a more detailed look at the company’s ambitions to reduce total greenhouse gas (GHG) emissions across its extended value chain.

“I am proud of the collective efforts across our company that drove progress against our environmental and social impact goals and commitments in fiscal 2023—including our continued carbon neutrality in Scope 1 and 2 emissions, our progress in product packaging, and the expansion of our employee giving and volunteerism program. We look forward to continuing to drive innovation and collaboration to build a more sustainable future.” said Nancy Mahon, Chief Sustainability Officer, The Estée Lauder Companies.

"Throughout fiscal 2023, our passionate and engaged global employees continued to act on our values to drive our company and business forward, delivering benefits for our consumers, our communities and partners, and ourselves,” said Fabrizio Freda, President and Chief Executive Officer, The Estée Lauder Companies.

“Over the course of fiscal 2023, our employees have created and nurtured programs that drive our shared commitment to sustainability and social impact,” said William P. Lauder, Executive Chairman, The Estée Lauder Companies. “I’m deeply proud of these achievements.”

Key highlights from the FY23 SI&S Report include:

_____________________________________________________________________________________________________________________________________

CAUTIONARY NOTE
This press release, the Fiscal 2023 Social Impact and Sustainability Report and Climate Transition Plan (collectively, the “SI&S materials”) contain information about our social impact and sustainability goals, targets, initiatives, commitments, and activities. These efforts involve certain risks and uncertainties, such as changes in our business (e.g., acquisitions, divestitures, or new manufacturing or distribution locations), the standards by which achievement is measured, the assumptions underlying a particular goal, and our ability to accurately report particular information. Actual results could differ materially from our stated goals or the results we expect. Changing circumstances, including evolving expectations for social impact and sustainability generally or to specific focus areas, changes in standards or the way progress or achievement is measured, may lead to adjustments in, or the discontinuation of, our pursuit of certain goals, commitments, or initiatives. Moreover, the standards by which social impact and sustainability efforts and related matters are measured are developing and evolving, and certain areas are based on assumptions. The standards and assumptions could change over time. The selection by management of alternative acceptable measurements could have resulted in materially different amounts or metrics reported herein. In addition, statements made about our Company, business, or efforts may not apply to all business units (e.g., ones that were more recently acquired). The SI&S materials may use certain terms that SASB, GRI, or others refer to as “material” in connection with certain social impact and sustainability matters. Used in this context, however, these terms are distinct from, and should not be confused with, the terms “material” and “materiality” as defined by, or construed in accordance with, securities or other laws and regulations. Therefore, matters considered to be material for purposes of this report may not be considered material in the context of our financial statements, reports with the U.S. Securities and Exchange Commission (“SEC”), or our other public statements, and the inclusion of information in this report is not an indication that such information is necessarily material to the Company in those contexts. The SI&S materials include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our social impact and sustainability goals, targets, initiatives, commitments, and activities, as well as our future operations and long-term strategy. Although we believe that our expectations are based on reasonable assumptions within the bounds of our knowledge of our business and operations, we cannot assure that actual results or outcomes will not differ materially from any future results or outcomes expressed or implied by such forward-looking statements. Forward-looking statements include all statements that do not relate solely to historical or current facts and involve a number of known and unknown risks, uncertainties, and other important factors such as those described above and in our recent SEC filings including in “Item 1A. Risk Factors” and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the fiscal year ended June 30, 2023, and in our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We assume no responsibility to update the information contained in the SI&S materials or to continue to report any information.