About sustainability

Policy statement

It is Icewear's policy to work with integrity with regard to sustainability issues and, in addition, to have a positive impact on stakeholders by taking care of both direct and indirect environmental and social impacts in its operations. Furthermore, the company looks at the United Nations' global goals and takes four of them into consideration in its sustainability goals.

Icewear has set the goal of being an exemplary company in its operations, not only with financial goals related to efficiency and profitability, but also in accordance with UFS criteria (environmental issues, social aspects and governance).

Icewear publishes an annual sustainability report built around the UFS guidelines of the Icelandic Chamber of Commerce and Nasdaq. Icewear's goal is to steadily increase achievements/results in sustainability matters, and the annual sustainability report is part of that journey. By defining and measuring the goals that are most relevant to the operation and production of outdoor clothing, Icewear focuses on accountability as well as increasing the knowledge of manufacturers, suppliers, staff, customers, and other stakeholders about the journey to a sustainable future.

Roles and responsibilities

• The board sets a sustainability policy and ensures its implementation.
• The CEO and the board are responsible for the implementation of the policy and that it is followed.
• Management is responsible for ensuring that employees are informed about the sustainability policy and sustainability goals, and that all Icewear's activities reflect this.
• Icewear also requires suppliers and manufacturers to consider their sustainable operations.

Environmental issues

Icewear focuses on having as little negative environmental impact as possible from its operations, and it encourages environmental considerations always be taken into account in connection with operational decision-making. For this purpose, it is important that Icewear knows what effects its operation could have on environmental and climate issues, and know how to reduce those effects as much as possible. In addition, manufacturers are required to carry out an environmental assessment and have an independent party assess it.

The Icelandic government has committed to fulfilling the requirements of the Paris Climate Accords, and Icewear looks to those commitments, too, in relation to its own operations. The goal is to reduce carbon dioxide emissions and become net zero in 2030, and that each year's emissions become carbon neutral.

The annual sustainability report publishes information on measurements of both direct and indirect effects in the emission of greenhouse effects. Icewear will thus manage the aspects of operations related to climate change and its impact on the value chain and basic operations. Icewear will group the company's sub-goals in environmental matters into phases that will be implemented steadily until the year 2030 in order to achieve net zero goals.

Social factors

Icewear holds certain social considerations as a guiding principle in all its activities, and human rights are considered above all else. To that end, the United Nations Declaration of Human Rights must be respected in all of Icewear's work. Icewear's internal and external stakeholders are required to respect human rights, and the selection of manufacturers abroad takes this policy into account.

Icewear does not accept child slavery or forced labor and closely monitors the conditions of its manufacturers abroad. Should such issues arise, Icewear reserves the right to terminate the relevant business relationship.

Icewear's ambitious human resources strategy supports the goal of cultivating human resources. A communication agreement written by the employees themselves, an equal pay policy, and an equal rights policy create a constructive environment, foster job satisfaction and well-being, and create a safe working environment and a family-friendly company where flexibility and coordination of work and private life are considered.

Icewear emphasizes diversity and equality in all jobs and works under an equality policy, a policy on bullying, and a policy on violence and sexual violence. The equality policy is intended to guarantee the rights of equal terms for equally valuable and comparable jobs, and equal status and rights of employees within the company regardless of age, gender, color, religion, opinion, nationality, sexuality or disability, and to ensure that each employee is evaluated on his own merits.

Icewear has historically emphasized social participation in its local environment and will continue those projects as well.

Governance

Icewear's board and management emphasize good governance and continuously develop and strengthen it. Icewear's management practices comply with all the laws and regulations that apply to the business. Good governance lays the foundation for responsible management and careful decision-making, which promotes solid communication between internal and external stakeholders and thus reduces the likelihood of conflicts of interest.

Icewear is committed to:

• Follow best practices, laws and regulations for good governance.
• Always take care of governance and internal organization so that it contributes to efficient management and sustainability in decision-making.
• Follow the company's privacy policy and ensure that personal information is protected.
• Work to reduce risk and deliver long-term sustainable returns.

The world goals

United Nations Sustainable Development Goals

The United Nations' global goals for sustainable development were approved by the representatives of all member states of the United Nations in September 2015. The global goals are multifaceted and ambitious and require the participation and cooperation of different stakeholders. They are integrated, inseparable and form a balance between the three pillars of sustainable development: economic, social and environmental. The SDGs also include five main themes which are humanity, the earth, prosperity, peace and cooperation.

Policy review

Sustainability issues are, by their very nature, issues that develop over time, and the policy will be reviewed annually. The policy must be adapted if necessary to do better and meet the changing demands of society in sustainability matters.

Icewear supports all the global goals, but mainly focuses on the following goals, as they are particularly related to Icewear's activities:

3 - Health and well-being Icewear emphasizes health and well-being, which is in line with Icewear's core value that outdoor activities are for everyone. Icewear supports global goal number 3 by offering a wide range of high-quality outdoor clothing at affordable prices to make outdoor activities accessible to as many people as possible. When it comes to Icewear's employees, the emphasis is on health and well-being, including physical, social, personal and mental health.

5 - Gender equality Icewear has an equal pay certification and an equality policy and thus has gender equality in the foreground. Work will continue to encourage partners, both domestic and foreign, to emphasize equality.

9 - Innovation and structure By emphasizing innovation in both the production and design of outdoor clothing, Icewear supports this global goal.

13 - Actions in climate matters Icewear is dedicated to working towards its own goals in climate matters and thus supporting the Icelandic government to achieve the goals of the Paris Agreement by 2030.