As environmental and social governance continues to establish itself as a priority for companies, the need for proactivity instead of reactivity has never been more real. The alarming effects of climate change on the environment as well as the economic cost that comes with it, are finally pushing humanity and industries to act.
We’ve seen in recent industry news companies demonstrating the breadth of this movement, with L’Oréal announcing during last month’s Climate Week the launch of its Climate Emergency Fund, to proactively support low-income and minority communities by developing resiliency in the face of climate disasters through preparedness and environment repair programs. Meanwhile, LVMH announced this summer that three of their prestige fragrance Maisons, Parfums Christian Dior, Givenchy Parfums and Kenzo Parfums, have launched a strategic collaboration with Cristal Union, with the objective to improve the agricultural practices in the beetroot sector, from which the alcohol in its perfumes is sourced.
With companies putting ESG at the heart of their strategies, pivoting corporate strategies to do business responsibly requires a holistic, integrated approach. BEAUTYSTREAMS’ Future Collective, composed of leading experts in biotechnology, art, design, technology, beauty, sustainability, and medical science, has defined the AGE OF RESTORATION as one of the next four years’ Macro Movements, or societal movements set to affect all industries.
The AGE OF RESTORATION movement is the concept that a responsible balance between people, planet, and profit is required to set realistic goals. As part of the AGE OF RESTORATION movement, BEAUTYSTREAMS has identified six areas for companies to lean on when establishing restorative and proactive ESG goals: A Nature Positive Approach, Circular Economy Solutions, Transparency and Traceability, Bio-Based Solutions, the Clean Energy Revolution, and Community and Collaboration.