Page 26 - EM - Export Magazine Perfumery Edition

What to know as We Enter

the Age of Restoration

As environmental and social governance continues to establish by the United Nations as part of their 2030 Agenda for
itself as a priority for companies, the need for proactivity instead Sustainable Development. Now inclusive of five P’s – People,
of reactivity has never been more real. The alarming effects of Planet, Prosperity, Peace, and Partnership – the pillars reflect
climate change on the environment as well as the economic cost areas of critical importance for humanity and the planet. As
that comes with it are finally pushing humanity and industries it pertains to the beauty industry, the AGE OF RESTORATION
to act. Beyond reaching sustainable means of doing business, will incite consumers to be increasingly mindful of where and
one of the greatest challenges posed today is finding ways to how they buy, and will require beauty companies to answer to
take restorative actions and maintain economic growth without key expectations, notably circularity, transparency, traceability,
compromising the health and safety of populations. energy use, community, and collaboration.
With companies putting ESG at the heart of their strategies, “Business as usual is no longer an option today. The acceleration of
pivoting corporate strategies to do business responsibly requires worldwide climate emergencies in the last several years is pushing
a holistic, integrated approach. As part of BEAUTYSTREAMS’ industries, nations, and individuals to act now. Both developing
Trend Funnel Methodology, forecasting global, societal nations and developed regions understand that ecological actions
movements gives a broader view of upcoming consumer trends are not abstract and ideological concepts, but a necessity, thus
and their implications on the beauty industry. BEAUTYSTREAMS’ companies are expected to follow suit,” explains Michael Nolte,
Future Collective, composed of leading experts in biotechnology, SVP Creative Director of BEAUTYSTREAMS.
art, design, technology, beauty, sustainability, and medical In recent industry news demonstrating the breadth of this
science, has defined the AGE OF RESTORATION as one of the movement, L’Oréal announced the launch of its Climate
next four years’ Macro Movements, or societal movements set Emergency Fund, to proactively support low-income and
to affect all industries. minority communities by developing resiliency in the face of
The AGE OF RESTORATION movement is the concept that a climate disasters through preparedness and environment repair
responsible balance between people, planet, and profit is programs. As one of the first of its kind by a consumer products
required to set realistic goals. Established in the mid-1990’s as a company, the fund promises to support communities in the
business model that places value on social and environmental most exposed areas by enabling expert partner organizations
responsibility as well as a company’s bottom line, the three P’s to help them prepare for and recover from climate disasters.
– or the triple bottom line – have recently been re-evaluated Meanwhile, LVMH announced this summer that three of their

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