The Beauty Industry’s Role in Corporate Sustainability
From the rise of metal straws to state-wide banning of plastic bags, sustainability is a topic that seems to be on everybody's lips nowadays. More than just a mere buzzword, this ideal has become not only important for Mother Nature herself, but for consumers as well. In fact, GlobeNewswire reports that the 2019 Consumer Sustainability Survey found that nearly half (47%) of all US consumers are willing to spend more for sustainable products.
In response, many in the energy, tech, and fashion sectors have made known that they are gearing towards sustainable practices. But how is the ever-expanding beauty industry responding to this call for environmental action?
The Environmental Price Tag of Beauty Products
While the beauty industry has always been a key factor in the global economy, it's becoming more popular today thanks to ever-evolving technology and marketing communications. The surge of sales is so great that the retail analytics firm Edited reveals that the industry was valued at $532 billion in 2019 — a number that is only set to keep rising.
Although the revenue increase of beauty products is good news for beauty brands and enthusiasts alike, the same cannot be said for the environment and sustainability. VICE reports that the beauty industry accounts for more than 120 billion units of packages produced every year, with most of them being non-recyclable or plastic products. This means that the growing demand for beauty products leaves a greater chance for plastic to end up polluting landfills and oceans.
More alarmingly, did you know that by the year 2025, 1.8 billion people will be living in places with absolute water scarcity given today's water use? Apart from packaging, another way that the beauty industry harms the environment is its excessive use of water, as it is the most used ingredient in makeup production.
With all this in mind, it is crucial for the booming beauty industry to turn to more sustainable practices — not just because of consumer trends, but for the existence of consumers, and the earth they inhabit, in the first place. The consequences of not doing so include both harm to the environment and the loss of customers who want to lead a more sustainable lifestyle.
Transformations Made by Beauty Brands
Fortunately, companies are increasingly adopting corporate sustainability, often guided by expert sustainability consultants. As highlighted in our previous discussion on 'How Sustainability is Driving Business Value',' this approach offers a dual advantage. It not only enhances environmental stewardship but also provides a competitive edge. For beauty brands, it's a win-win: safeguarding both the planet and their market position.
Let's delve into five beauty brands excelling in corporate sustainability, either through innovative practices or eco-conscious products.
Love Beauty and Planet
Thanks to Unilever's massive global reach, the consumer goods company can help promote sustainability with its latest brand, Love Beauty and Planet. What makes this brand a follower of corporate sustainability is that their products are created from ethically sourced ingredients and packaged in post-consumer recycled plastic. Moreover, the company is committed to lessening carbon emissions — they're even transparent about how much goes into their Carbon Tax Fund.
L'Oréal
L'Oréal is arguably one of the biggest beauty brands in the world, and they're using their massive platform for good with their own sustainability program entitled 'Sharing Beauty With All'. Launched in 2013, this initiative is meant to help the company shift to a low carbon business model — something that the program has thus far been able to do, as it has reduced carbon dioxide emissions of their factories by 77% between 2005 and 2018. Not to mention, L'Oréal is also focusing on conserving natural resources, making their ingredients more biodegradable, and having reusable and compostable plastic packaging.
Beautycounter
Beautycounter is already a known game-changer in the beauty industry, thanks to its 'The Never List' — a catalog of over 1,800 questionable or harmful chemicals that the company won't use for their products. And now, the beauty brand is making more strides in sustainable development, as it has created the 'Never List: Packaging Edition', which prohibits materials that could contaminate the environment in their packaging. This involves using glass instead of plastic for some products, and encouraging their customers to recycle by providing instructions on the package.
The Lip Bar
When Melissa Butler appeared on Shark Tank in 2015, her beauty brand was rejected by the judges. However, thanks to her determination, The Lip Bar has now evolved into a successful beauty brand that contributes to sustainability by producing non-toxic and vegan makeup products. This is greatly beneficial for the environment, as non-toxic products don't contain dangerous chemicals that pollute the air, while its cruelty-free nature means it doesn't go through a harmful production process.
LOLI
Relaunched in 2018, the skincare brand LOLI is practicing corporate sustainability powerfully and creatively: by going waterless. Not only do waterless beauty brands help conserve the world's available water supply, but they also help reduce carbon emissions. Moreover, the brand uses glass yogurt jars, instead of standard plastic for their products.
Article written by: Beth Anne Dawson
Exclusively for sustridge.com