GlobalData offers a comprehensive analysis of Ulta Beauty, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Ulta Beauty‘s ESG performance. GlobalData’s company profile on Ulta Beauty offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Ulta Beauty, a leading beauty retailer, is committed to reducing its carbon emissions. In 2022, Ulta Beauty expanded its footprint with 47 new store openings, challenging the company to balance growth and minimize environmental impact. Despite Scope 3 emissions being a significant part of the footprint, Ulta Beauty has actively managed Scope 1 and 2 emissions through investments in renewable energy. Collaboration with brand partners has also been extended to address Scope 3 emissions. The company reported its absolute emission data for 2022, indicating Scope 1 emissions of 8,940 MTCO2E, Scope 2 emissions of 204,498 MTCO2E, and Scope 3 emissions of 2,355,263 MTCO2E. Scope 1 and 2 emissions account for 5% and 4% respectively, while scope 3 emissions make up the majority at 95%.
Ulta Beauty has identified various categories within scope 3 emissions, including purchased goods and services, fuel and energy-related emissions, upstream transportation and distribution, waste generated in operations, business travel, employee commuting, use of sold products, and end-of-life treatment of sold products. The company aims to reduce emissions in these categories to lower its carbon footprint.
To achieve emission reduction, Ulta Beauty has already taken steps such as diverting waste for recycling, diverting hazardous waste from landfills, and reducing waste sent to landfills. The company is also investing in energy efficiency and renewable energy to decrease its overall energy demand and lower scope 1 and 2 emissions.
Furthermore, Ulta Beauty collaborates with brand partners to tackle scope 3 emissions. In 2022, the company partnered with a major brand to transition shipping from trucks to rail, reducing emissions. Ulta Beauty is also committed to sustainable packaging, targeting 50% of consumer-level packaging to be recyclable, refillable, or made from recycled or bio-sourced materials by 2025.
In conclusion, Ulta Beauty is committed to reducing its carbon emissions through initiatives such as waste diversion, energy efficiency, renewable energy investments, and sustainable packaging. The company's efforts showcase a dedication to environmental sustainability in the beauty industry, emphasizing responsible practices and emission reduction strategies.