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JSC “Latvia's State Forests” Receives the Greenest Brand Award

On 22 September, the Baltic Brand Forum was held in Tallinn, during which the most loved, greenest, most humane, most wanted, fastest growing and boldest brands in the Baltics were announced. For the sixth year in a row, JSC “Latvia's State Forests” (LVM) has managed to maintain its leading position as the greenest brand in Latvia, where people value the brand's “greenliness” or environmental friendliness.

“Madara Cosmetics” was recognized as the greenest brand in the Baltics, “Vinted” in Lithuania, and “Puhas Loodus” in Estonia.

LVM ranked fourth in the category “the most humane brand”. In Latvia, the first place in this category was awarded to the Road Safety Directorate of the Republic of Latvia, in Lithuania – to the brand named “Vinted”; in Estonia – “Coop Pank”, and in the Baltics as a whole – to “Swedbank”.

“We are grateful that society continues to appreciate us as the greenest brand in Latvia. We strengthen this every day in our operations and development – we promote not only the development of the national economy and employment in the regions, but also balance economic interests with ensuring the quality of the environment, mitigating the risks of climate change, and adapting to these changes. This recognition demonstrates our responsibility towards society,” says Tomass Kotovičs, Head of LVM Communication Unit.

This year, courage was the main theme of the forum, highlighting brands with a new perspective on regular norms and the implementation of bold ideas.

The results are determined with the help of the “Norstat Baltic” team by surveying more than 3 000 people in the Baltic countries. The survey is based on the “Brand Capital” research, which is the most comprehensive brand and lifestyle research in the Baltics, collecting data on more than 600 brands and 300 lifestyle questions.

Since its foundation back in 1999, LVM through implementing sustainable forest management, has been paying dividends for the use of State capital to the State and local government budgets every year. From LVM's 2022 profit, EUR 203.1 million were paid to the State, including EUR 162.5 million in dividends for the use of State capital and EUR 40.6 million in corporate income tax. LVM's economic activities are carried out by maintaining and recovering forests, taking care of nature conservation, recreation opportunities and increasing timber volumes, as well as investing in expanding the forestland and developing forest infrastructure – renovation of drainage systems and forest road construction.