Page 28 - EM - Export Magazine Perfumery Edition

The platforms, which can be searched by both scanning Act (IRA), a landmark climate bill that purportedly puts the US on
products’ barcodes or searching a product or ingredient, can also the path to cutting global warming 40% by 2030. This legislation
demonstrate how product claims are backed by both experts represents an aggressive investment in the transition to clean
and independent verifications, and often highlight brands and energy, with commitments to creating jobs, lowering costs, and
products with a proven positive impact on people and the planet. includes a US $60 billion commitment to frontline communities
hit hardest by fossil fuel pollution in an effort to rebalance the
BIO-BASED SOLuTIONS BuILD MOMENTuM scales of years of environmental injustice.
As bio-based solutions rapidly develop
in many industries, this category
continues to reveal endless possibilities
for innovation and remains one of the
keys to a sustainable future. Material
innovation is an important growth
category in the bio revolution, from
new uses of fermentation processes to
novel materials that are biodegradable,
or have unique qualities or capabilities.
Solvay, a leading supplier of cosmetics
ingredients, estimates that by the end
of 2030, synthetic biology will account for more than a third COMMuNITY & COLLABORATION
of global output in manufacturing industries. Biotechnology As consumers expect environmental and social responsibility
is expected to have an estimated economic impact of more from the brands they support, companies are coming under
than US $2 trillion annually by 2040. The company recently pressure to provide greater transparency of their supply chains,
unveiled Mirasoft SL L60 and Mirasoft SL A60 – two new high- and to source sustainable and ethical ingredients. Responsible
®
®
performance biosurfactants. Based on rapeseed oil and sugar, sourcing is becoming paramount in the beauty industry. As the
these 100% bio-based surfactants manufactured through a global ethical beauty industry is set to reach US $54.5 billion in
fermentation process can be used for a wide range of sustainable 2027, according to research from Future Market Insights, more
beauty care products. Meanwhile, in the textile and leather goods brands are guaranteeing that their sourcing is sustainable, ethical,
industry, the fight for the best alternative to leather is giving way and socially aware. With ESG and CSR principles taking center
to mycelium made from fungi, which has emerged as a leading stage, brands are committing to work with only those suppliers
contender in textiles, with several companies, including biotech that adhere to social and environmental compliances and
firm MycoWorks leading the way. Its most recent collaboration responsible sourcing processes. In the aim of guaranteeing better
with Hermès led to the creation of Sylvania, a mycelium-derived transparency, brands are opting for suppliers who can provide
hybrid material used for travel bags. traceability and the monitoring of their ingredients’ sourcing.

THE CLEAN ENERGY REVOLuTION
Renewable or clean energy is rapidly replacing energy derived
from fossil fuels as innovation drives down costs and makes
it more accessible, creating new business opportunities –
although not all renewable options are created equal, with some
not benefiting the environment. The growth of renewables is
happening at both large and small scales globally, from offshore
wind farms to solar panels on homes, and in urban to rural
communities. Last year, the US passed the Inflation Reduction

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