We’d like to be a leader for sustainability in the beauty retail sector. So we have set ourselves ambitious goals. And we have developed a strategy to be able to reach these goals together.
Our ESG strategy is based on three focus areas: People, Planet and Product. In each focus area, the company has defined clear ambitions and identified relevant domains that are filled with well-defined objectives and concrete actions, flanked by clear responsibilities. The three focus areas are supported by our practice of good corporate governance throughout the entire DOUGLAS Group organization. Our ESG strategy addresses our material topics and is mapped to tie back to the UN Sustainable Development Goals (SDGs), with focus on the five SDGs most relevant to the DOUGLAS Group’s business.
Our strategy draws on the United Nations’ globally recognised SDGs (Sustainable Development Goals). They’re a call to the world community to end poverty, protect the planet and improve quality of life worldwide.
Our sustainability strategy is organised around five central SDGs most relevant to our business:
We also support the UN Global Compact, which encourages businesses across the whole world to operate sustainably and fulfil their social responsibility. The more businesses acknowledge their responsibilities, the greater the progress that we can all achieve together. The Compact stipulates that businesses publish an annual progress report.
The DOUGLAS Group signed the UN Global Compact in 2023.
A strategy is only as good as its implementation. So we’ve determined clear areas of responsibility for DOUGLAS Group Management, to ensure that ESG and sustainability take centre stage in our business activities.
At the DOUGLAS Group, management compensation is directly related to their success in making sure our ESG goals are achieved. We’ve implemented a highly modern and up-to-date Compliance Management System, which aims to ensure our commitment to the Code of Conduct through regular communications and obligatory training. This also promotes knowledge and understanding of our rules and core principles.
MORE ABOUT COMPLIANCE AT THE DOUGLAS GROUP
Following its transposition into German law, the Corporate Sustainability Reporting Directive (CSRD) will require the DOUGLAS Group to publicise information about the risks and opportunities that we observe regarding social and environmental issues, as well as the effects that our business operations have on humankind and the environment. Our ESG reporting has to comply with the European Sustainability Reporting Standards (ESRS). The EU has published these standards to help investors, civil organisations, consumers and other stakeholders assess businesses’ sustainability efforts with regard to the European Green Deal.
Of course, we aim to fulfil these reporting requirements to the full extent. We are building an internal reporting system for annual ESG reporting to assist in this. As part of this, we implemented a carbon accounting process and enlarged the audit department to ensure our capacities for ESG reporting. It’s our goal to be CSRD compliant by the end of 2024.
