Voyant Beauty Sustainable and Social Economic Sourcing Policy

Last updated August 09, 2022

1. Purpose
   1. The purpose of this policy is to define the responsibilities, principles, and quantative goals for which Voyant Beauty Corporate Procurement will strive to create and improve sustainable sourcing.
   2. Such responsibilities, principles, and guidelines within this policy shall apply to 100% of the acquisitions for which Voyant Beauty has sourcing ownership decision-making for.
      1. In some circumstances Voyant Beauty may not have sourcing ownership decision making authority or responsibility, for those acquisitions this policy may not apply.
      2. In some circumstances quantitative goals associated with this policy may only pertain to direct materials purchased in the products we manufacturer.
   3. This policy shall be made available to all Voyant employees, Suppliers, Customers, and public in full context.
   4. Feedback and inquiries are welcome from both internal and external sources and can be made to [email protected].
2. Policy Objectives
   1. This policy and context within has been established through the collaboration of internal stakeholder input, external business feedback, and the approval from Executive Leadership within Voyant Beauty.
   2. Portions of this policy shall receive modifications from time to time based on the feedback of internal stakeholders, external businesses or individuals, or Voyant Beauty Leadership.
   3. Further information related the Voyant Beauty Supply Chain and Procurement Policy may be made or found at the Voyant Beauty’s website – Supplier Network.
   4. Voyant Beauty’s Sustainable Sourcing Policy Objectives are;
      1. Compliance of Voyant Beauty’s Corporate policies and procedures, as well as federal, state, local laws, and regulations.
      2. To identify and actively pursue practices that promote supplier selection and advancements related to environmentally friendly and sustainable materials.
      3. To motivate others within Voyant Beauty to align and support objectives.
      4. To ensure special consideration is made and applied to sustainable materials and/or Suppliers demonstrating exceptional advancements of sustainability and/or Social Economic status during source determination.
      5. To aid the company with the visibility and access to innovations and technologies to foster its strategies.
3. Sustainable Sourcing
   1. Overview
      1. At Voyant Beauty we emphasize providing sustainable alternatives where and when we can be a hallmark of a true sustainable stewardship mindset.
      2. Our customers look to us to understand sustainability changes in consumer trends, as well as be a true partner in creating more sustainable products, which is why we are building our capabilities to offer ingredients with a lower environmental or social impact without compromising efficacy and consider the sustainability of an ingredient in products we custom design.
      3. When it comes to sustainable packaging, we know many of our customers have set goals to reduce the use of virgin plastic in favor of more sustainable alternatives. Leveraging new technologies and our technical know-how, we can offer packaging to customers that is 100 percent sustainable and reusable.
      4. Voyant Procurement is dedicated to working with and through its Supplier Network to create innovation and solutions that emphasize world class sustainable sourcing.
      5. We strive to make good choices and intentions based on being a good neighbor with both our communities and the earth. Our sustainable sourcing initiatives and desire for continuous improvement apply across our entire network, while we our sustainable sourcing goals may only apply to the direct materials we are purchasing.
   2. People
      1. At Voyant we understand that people make the difference. This holds true for all aspects of our business, including our Procurement Team. The following outlines our commitment and investment of human resources to sustainable procurement.
         1. Training: Voyant Procurement will ensure that 100% of The Procurement Team members directly involved in sourcing and making sourcing decisions understands, has access too, and receives sustainable sourcing training. It is further expected that Team members will leverage and utilize the expertise of our Supplier Network to understand and access innovation and sustainable technologies that will help further our sustainable Procurement objectives and customer solution offerings.
         2. Goals and Desire: The Procurement Team will create and maintain quantitative goals for Team members around sustainable materials sourced. Specifically defining various sustainable context type(s) and quantative goals based on percentage of spend under Voyant source ownership from a category level. Such goals will be built into our Department objectives and individual Team performance objectives.
   3. Sustainable material and Supplier Network Compliance Goals
      1. Sustainable and Compliance goals for Voyant Beauty’s Corporate Procurement Team were established through the collaboration of internal stakeholder input, external business feedback, and the approval from Executive Leadership within Voyant Beauty
      2. Goals shall be reviewed and updated from time to time and at least annually. Procurement Team members applicable to these goals shall have direct accountability for their completion and performance to deliver and progress shall be tracked through their individual, group, and department goals. Regular touch points shall be established with each Team member’s Manager to ensure continuous progress, support, and completion.
      3. Chemical materials goals
         1. For 2022 our goal is to quantitatively define (baseline start point) at least 80% (capture rate) of our applicable spend and supplier network relevant to our overall defined objectives.
         2. For 2023 our goal is to achieve each defined sustainable chemical sourcing objective or at minimum improve each >20%. better than our 2022 baseline starting point with a capture rate >80%
         3. For 2024 our goal is to achieve each defined sustainable chemical sourcing objective or at minimum improve each >15%. better than 2023 with a capture rate >85%
         4. For 2025 our goal is to achieve each defined sustainable chemical sourcing objective or at minimum improve each >10%. better than 2024 with a capture rate >87%.
         5. Our overall sustainable chemical sourcing objectives are defined as such;
            1. 100% of purchase palm oil (including palm kernel oil) that originates from a certified source in compliance with the Roundtable on Sustainable Palm Oil (RSPO).
            2. 100% purchase ethanol generated from renewable plant sources via a fermentation process.
      4. Packaging materials goals
         1. For 2022 our goal is to quantitatively define (baseline start point) at least 80% (capture rate) of our applicable spend and supplier network relevant to our overall defined objectives.
         2. For 2023 our goal is to achieve each defined sustainable packaging sourcing objectives or at minimum improve each >20% better than our 2022 baseline starting point with a capture rate >80%.
         3. For 2024 our goal is to achieve each defined sustainable packaging sourcing objectives or at minimum improve each >15% better than 2023 with a capture rate >85%.
         4. For 2025 our goal is to achieve each defined sustainable packaging sourcing objectives or at minimum improve each >10% better than 2024 with a capture rate >87%.
         5. Our overall sustainable packaging sourcing objectives are defined as such;
            1. 100% of pulp-based products from sources that actively maintain Forest Stewardship Council (FSC) and/or Sustainable Forestry Initiatives (SFI) certifications.
            2. 100% of all aluminum aerosol cans contain some portion of Post-Industrial Recycled Material or Post Consumer Scrap Recycled content.
            3. 100% of plastic bottles contain some portion of Post-Industrial Recycled Material or Post Consumer Scrap Recycled content.
      5. Network Compliance
         1. For 2022 our goal is to quantitatively define (baseline start point) at least 80% (capture rate) of our applicable spend and supplier network relevant to our overall defined objectives.
         2. For 2023 our goal is to achieve each defined sustainable packaging sourcing objectives or at minimum improve each >20% better than our 2022 baseline starting point with a capture rate >80%.
         3. For 2024 our goal is to achieve each defined sustainable packaging sourcing objectives or at minimum improve each >15% better than 2023 with a capture rate >85%.
         4. For 2025 our goal is to achieve each defined sustainable packaging sourcing objectives or at minimum improve each >10% better than 2024 with a capture rate >87%.
         5. Our overall Supplier network compliance objectives are defined as such;
            1. 100% of applicable Suppliers participate, respond, and comply to the Voyant Beauty Supplier Conflict Mineral Questionnaire and related regulations noted within.
            2. 100% of applicable Suppliers participate, respond, and comply to the Voyant Beauty Supplier Palm Oil Questionnaire and provide the requested documentation noted within.
            3. 100% of applicable Suppliers participate, respond, and comply to the Voyant Beauty Supplier Code of Conduct and related regulations noted within
            4. 100% of applicable Suppliers have environmental, social, and governance language in their supplier agreements and/or contracts.
            5. 10% of applicable Suppliers having qualified social economic and diversity ownership accreditation as defined by the SBA.