Published: 2021-08-26 16:17:26 CEST
MADARA Cosmetics
Company Announcement

AS MADARA Cosmetics publishes its ESG report

Inside information, 2021-08-26 16:17 CEST --

AS MADARA Cosmetics publishes its ESG (environmental, social and governance) report for 2020. This report is a voluntary disclosure of the company's performance based on three aspects: environmental, social and governmental. Environmental criteria examine the environmental sustainability of the company's practices, social criteria examine the relationship between the company and its stakeholders (employees, customers, suppliers), governance examines the corporate governance, financial reporting and shareholder rights. The report may help to evaluate the prosperity and sustainability of the company in the long run.

A few key facts from the ESG report of AS MADARA Cosmetics:

  • MÁDARA ranked as the 2nd greenest brand in Latvia in 2020;
  • Waste generated decreased by 34% compared to the previous year;
  • GHG emissions per unit produced decreased in comparison to the previous year;
  • A majority of the company’s employees (including Board and Supervisory Board members) are women;
  • In 2020, AS MADARA Cosmetics supported Latvian hospitals by donating hand disinfectants, hand creams and soaps;
  • In 2020, AS MADARA Cosmetics financially supported several associations – MARTA Centre, SOS Children’s Villages, the oncological patient support association Tree of Life.

The full ESG report is available in the attachment.


Management Board of AS “MADARA Cosmetics”


The shares of Madara Cosmetics are admitted to trading on Nasdaq Baltic First North Market.

The Certified Adviser for AS Madara Cosmetics is AS LHV Pank.

MADARA Cosmetics was founded in 2006 and has become one of the leading manufacturers of cosmetics in Northern Europe and the leader in Latvia. The cosmetics brand MÁDARA represented by the company is a pioneer in the segment of natural beauty care and make-up cosmetics in Latvia. In 2016 and in 2017, the company ranked in the Top 10 of the Most Reputable Companies of Latvia. At the beginning of 2017, the limited liability company was transformed to a joint-stock company. Since November 2017, the company’s shares have been listed on the “Nasdaq Baltic” alternative market “First North”. The company has been awarded the European “Role Model” award of the “SME Star Awards 2018” organised by the European Parliament in Brussels for small and medium companies. In 2019, the company received the Excellence Award at Nasdaq Baltic Award 2019 and is one of the companies that rings the bell of the trading session on the Nasdaq Stock Exchange in New York. At the end of 2020, the idea of AS MADARA Cosmetics gained worldwide recognition and won the World Intellectual Property Organization (WIPO) award WIPO IP Enterprise Trophy. For more information, visit

         Contact information:
         Address: 131 Zeltiņu Street, Mārupe district, Mārupe, LV 2167, Latvia
         Contact person: Uldis Iltners, member of the Management Board
         Phone: +371 67 470 243
         Certified advisor:
         AS “LHV Pank”
         Contact person: Ivars Bergmanis
         Phone: +372 680 2720

MADARA Cosmetics 2021 ESG report.pdf