MADARA COSMETICS AS
Climate Impact & Sustainability Data (2017, 2020)
Reporting Period: 2017
Environmental Metrics
Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed
ESG Focus Areas
- Not disclosed
Environmental Achievements
- Not disclosed
Social Achievements
- Launch of shareholder benefits programme
Governance Achievements
- Successful initial public offering (IPO) and admission to trading on Nasdaq Riga First North alternative market
Climate Goals & Targets
Long-term Goals:
- Not disclosed
Medium-term Goals:
- Not disclosed
Short-term Goals:
- Not disclosed
Environmental Challenges
- Not disclosed
Mitigation Strategies
- Not disclosed
Supply Chain Management
Supplier Audits: Not disclosed
Responsible Procurement
- Not disclosed
Climate-Related Risks & Opportunities
Physical Risks
- Not disclosed
Transition Risks
- Not disclosed
Opportunities
- Not disclosed
Reporting Standards
Frameworks Used: Null
Certifications: ECOCERT
Third-party Assurance: Not disclosed
UN Sustainable Development Goals
- Not disclosed
Not disclosed
Sustainable Products & Innovation
- SPF 15 and SPF30 sun protection products
Awards & Recognition
- Not disclosed
Reporting Period: 2020
Environmental Metrics
Total Carbon Emissions:82 tCO2e/year
Scope 1 Emissions:120.70 tCO2e/year
Scope 2 Emissions:26.693 tCO2e/year
Renewable Energy Share:40.1% of electricity from renewable sources
Total Energy Consumption:63,533.79 m3 of gas/year
Water Consumption:6,151 m3/year
Waste Generated:81.71 tons/year
Carbon Intensity:0.009kg CO2 per 1 euro of turnover
ESG Focus Areas
- Environmental Sustainability
- Social Responsibility
- Corporate Governance
Environmental Achievements
- Reduced CO2 emissions by 34% (from 125t in 2019 to 82t in 2020)
- Used 27.3% post-consumer recycled plastics and 5.7% sugarcane plastics in packaging
- Used 39.4 tonnes of 100% and 90% recycled transportation packaging and 10.6 tonnes of 60% recycled packaging for online orders
- Reduced GHG emissions per product from 96g in 2019 to 61g in 2020
- Laboratory department switched from single-use plastic to multiple-use glass containers
Social Achievements
- Donated hand sanitizers and hand creams to hospitals
- Donated €8000 to SOS Children’s Villages Latvia and €3000 to Tree of Life
- Sent Velvet Wear lipstick to Belarusian women volunteers and human rights activists
- Employee turnover rate decreased from 15.6% in 2019 to 11.2% in 2020
Governance Achievements
- Revised and reviewed all documents, procedures and practices to improve data privacy standards
- Implemented a Supplier Code of Conduct with requirements for labor, human rights, health & safety, and environmental standards
- Established an anti-bribery policy
Climate Goals & Targets
Environmental Challenges
- Increased CO2 emissions due to rapid production volume growth
- Increased waste from production due to development of new products
- Increased online shopping leading to potential increase in return rates and associated carbon emissions
Mitigation Strategies
- Implemented CO2 neutral deliveries within Latvia
- Offered international clients option for slower shipping to reduce emissions
- Incorporated new scanners in warehouse to reduce paper usage
- Reduced tape used on shipping boxes
- Offered products with minor packaging defects or shorter expiry dates at reduced prices online
Supply Chain Management
Responsible Procurement
- Supplier Code of Conduct
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: ECOCERT/Cosmos
Certifications: ECOCERT/Cosmos, ISO GMP
Third-party Assurance: ECOCERT, Bureau Veritas Latvia SIA, Deloitte Audits Latvia SIA
Sustainable Products & Innovation
- Ocean Love collection
- Derma Collagen range
- Grow & Fix Brow & Lash Booster