MADARA Cosmetics AS publishes its Sustainability and Corporate Governance (ESG) Report for 2025. This report is a voluntary disclosure of the Company's performance across environmental, social responsibility, and corporate governance dimensions, reflecting the Company's longstanding commitment to combining science-based natural cosmetics innovation with the highest standards of social responsibility, environmental sustainability, and ethical governance.
Key 2025 ESG achievements and performance indicators:
- In the first half of 2025, MADARA Cosmetics AS became the second company in Latvia to be awarded the prestigious international Certified B Corporation™ status. This certification serves as a rigorous, independent validation that the Company's governance practices, employee well-being and workplace quality, and impact on society and the environment meet the highest global standards.
- Proactively aligning with international best practice, the Company conducted its first comprehensive double materiality assessment in collaboration with KPMG Baltics SIA. The results clearly affirm the sustainability foundations that MADARA has built over the years and will serve as a strategic roadmap for the Company's future development.
- Since 2022, 100% certified renewable electricity has been used across all manufacturing operations, enabling the Company to reduce its total greenhouse gas (GHG) emissions to 130.5 tonnes of CO₂ equivalent in 2025 - a 20.9% decrease year-on-year. This represents the lowest emissions level recorded since 2017, achieved with exceptional production efficiency at an intensity of just 21.54 g CO₂ equivalent per unit produced (Scope 1 and Scope 2 combined).
- The Company maintains strong gender equality and diversity metrics, with women comprising 70% of the total workforce. Internal analysis confirms equitable remuneration practices free from gender-based pay disparities. In the area of employee well-being and safety, MADARA Cosmetics signed the "Mission Zero" charter, implementing preventive occupational health and safety infrastructure.
- MADARA Cosmetics retains full autonomy over product development - all products are formulated in-house within the Company's dedicated laboratory and R&D department. This science-driven approach ensures strict compliance with the international COSMOS standard, guaranteeing that 93% of plant-based raw materials used in formulations are sourced from certified organic farming operations.
The full ESG report is available in the attachment.
Management Board of AS "MADARA Cosmetics"
The shares of AS Madara Cosmetics are admitted to trading on Nasdaq Baltic First North Market.
The Certified Adviser for AS Madara Cosmetics is ZAB Eversheds Sutherland Bitāns SIA.
About AS MADARA Cosmetics
Founded in 2006, AS MADARA Cosmetics is the largest cosmetics manufacturer in Latvia. The Company develops and produces natural skincare and decorative cosmetics, certified by ECOCERT/COSMOS, and exports to more than 35 countries. Since 2017, MADARA shares have been listed on Nasdaq Baltic's alternative market First North. The Company and the MÁDARA brand have received multiple awards for innovation, sustainability, design, and product excellence, both in Latvia and internationally.
In 2025, AS MADARA Cosmetics reported a consolidated turnover of EUR 23.22 million, marking an 12% like-for-like year-over-year increase.