Mavi is being recognized for its efforts to reduce its climate change impact. The Turkish denim brand has been named to the CDP’s 2022 Climate Change A List.
CDP runs a global disclosure system for investors, companies, cities, states and regions to manage their environmental impact. The CDP A List covers three categories: Climate Change, Forests and Water Security Program, listing companies who scored an A based on comprehensiveness of disclosure, awareness and management of environmental risks and best practices associated with environmental leadership.
As part of its All Blue sustainability strategy encompassing people, planet and products, the company has disclosed its environmental data in Turkey for the past three years. It received a score of A in climate change and a B score for Forests and Water Security Programs.
Mavi is committed to becoming a climate-positive company by 2050. It aims to reduce Scope 1 and Scope 2 greenhouse gas (GHG) emissions 50 percent by 2030 and become a carbon neutral company 2040.
Mavi CEO Cüneyt Yavuz said the recognition is a reward for the “significant strides toward integrating sustainability into our corporate culture, vision, business practices, products, and growth targets” in the past three years.
“Earning an A score for our reporting from the world’s largest environmental disclosure platform and being recognized among global climate leaders is an immense source of happiness and pride for us,” he said.
Only 283 of the 20,000 companies worldwide that responded to the CDP made the Climate Change A List in 2022. Mavi is the first and only apparel brand from Turkey to make the list. Lenizng, LVMH, Inditex and VF Corp. also earned a score of A for Climate Change.
Mavi was also recently named to BIST Sustainability 25 Index, an index of companies whose shares are traded on Borsa Istanbul and whose corporate sustainability performance is at a high level.
Consumers are responding to Mavi’s sustainability efforts. Yavuz said revenue for the All Blue collection, which centers on garments made with organic, recycled or BCI-certified cotton, cottonized hemp and other sustainable ingredients, increased 9.7 percent year-over-year.