Cotopaxi Releases 2023 Impact Report

BCorp Purpose-Driven Brand Continues Commitment to Social and Environmental Responsibility

SALT LAKE CITY, April 18, 2024 /PRNewswire/ -- Certified B Corporationtm and impact-driven adventure brand, Cotopaxi, today releases its annual impact report, sharing outlooks and reporting on their progress in sustainability, circularity, philanthropic giving, diversity equity and inclusion, as well as supply chain and human rights data from the 2023 calendar year.

Cotopaxi was founded in 2014 in Salt Lake City, UT, as a vehicle to fight extreme poverty by selling sustainably designed outdoor products. To date, Cotopaxi has given over $3.3 million to the Cotopaxi Foundation, which directly supports vetted nonprofit organizations working to increase access to universal education, housing, health care, climate solutions, and meaningful employment in impoverished communities. Cotopaxi also recognizes its responsibility to mitigate its own negative impacts on the planet and society.

In this report, Cotopaxi scrutinizes its impact across its value chain to account for environmental, social, and governance (ESG) risks. As Cotopaxi continues to grow, they are determined to demonstrate that growth can be decoupled from negative social and environmental impacts.

Key highlights from the 2023 report include:

• Transition to a more circular business; launching Mas Vida recommerce platform and expanding Guarantee for Good repair/warranty program
  • Offsetting 9.9k lbs of landfill waste, and 1.2k gallons of water in just 2 months of the program
• Fighting Poverty; aiding over 4.25M people impacted through Cotopaxi Foundation to date
• Volunteering within the Community; contributing over 1,100 paid volunteer hours through employee volunteerism
• Reducing Waste; expanding deadstock program, keeping over 2.7M yards of fabric to date out of landfills
• Maintaining B Corp and 1% for the Planet status; with a charitable giving of over $1.4M in 2023, Cotopaxi remains certified and supports the movement of businesses Doing Good in the world

"This year was the year of collaboration for good at Cotopaxi," says Annie Agle, VP of Sustainability and Impact. "Between relaunching a scaled re-commerce program and working alongside numerous outdoor brands and the Outdoor Industry Association to assist our shared suppliers in lowering their environmental impacts, we feel passionately that through humility and proactive relationships with like-minded organizations, Cotopaxi can continue to punch above our weight in terms of sustainability and philanthropy. We continue to strive to reduce our negative impacts and drive as much positive benefit to shared society as possible. We are deeply grateful to all of those who have supported not just our brand, but what we stand for at Cotopaxi."

Looking ahead, Cotopaxi has lofty climate and social targets; supporting over 5 million people in poverty by 2028, becoming net-zero by 2045, and increasing their circularity through materials. Knowing they cannot achieve these goals alone, Cotopaxi plans to continue to lean into the power of collaboration and cooperation.

Upcoming partnerships and programs launching in 2024 and beyond include:

• Portland Garment Factory: launching an upcycled collection with the women owned US based upcycled fabric company
• Queen of Raw: integrating Queen of Raw's science-based technology that solves excess inventory into sourcing and production processes, amplifying the deadstock program and reducing material sourcing impact
• Outdoor Industry Association "Co-Labs": advancing research and feasibility studies for emissions reduction interventions within the Cotopaxi supply chain
• Reimag.in: collaborating for transparent and transformative holistic sustainability reporting

To view Cotopaxi's 2023 Impact Report, please visit cotopaxi.com/impact.

Media Contact: [email protected]

About Cotopaxi
Cotopaxi is a B Corporation that makes adventure travel gear to empower people to see the world and make it better. Our Gear for Good? promise is to make our products as ethically, sustainably, and durably as possible, while having a positive social, environmental, and economic impact. We dedicate 1% of revenue to the Cotopaxi Foundation, which supports nonprofit partners with proven track records of alleviating poverty. Through our Foundation to date, we have helped more than 4.25 million individuals experiencing extreme poverty. For more information, visit www.cotopaxi.com.

SOURCE Cotopaxi