Luxury is the state of great comfort and extravagant living, but is it worth it for the planet in the long run? Can we really have our cake and eat it, too?
In these transitional times, people are growing more concerned with the environment. The environment has been negatively impacted by a multitude of things and the toll it has taken on society has prompted many people to be environmentally conscious. When looking at what brands to shop for, people consider how the brand is positively or negatively affecting the environment, what actions the brand has taken as well as what the brand looks to do in the future that benefits the environment.
Can we have luxury items without hurting the environment? Positive Luxury, a company dedicated to integrating sustainability into global luxury brands for over a decade, is working to ensure that this becomes the case.
Recently, the company launched the Connected Butterfly Mark, an app that allows brands to showcase their sustainability ranking. Companies that meet Positive Luxury’s exacting standards for certification are awarded the Butterfly Mark certification, a globally respected trust mark that is independently verified and signals that companies meet the highest standard of sustainability across ESG. The original Butterfly Mark certification was launched in 2011, exclusively for luxury brands, and it provides independently verified evidence to stakeholders of an organization’s ESG (environmental, social and governance) performance.
Luxury brands are often scrutinized by many due to their immense presence and influence on society. Whether it’s consumers suspicious of greenwashing, seeking transparency and evidence-based claims or legislators impacting all companies from large and small to public and private, luxury brands are under increasing pressure to evidence positive impact across their value chain. Employees increasingly choose to work with companies whose values align with their own.
Furthermore, shareholders and investors are seeking strong ESG performance, reducing risk and enhancing corporate value. Despite the pressure for luxury brands to do right by everyone, evidence is growing as exhaustive studies by academics and investor groups demonstrate a strong and growing impact of ESG performance on financial results and equity returns. The fact of the matter is that no matter which lens you view sustainability through, doing better by the environment leads to a lot of positives in the eyes of both the public and private sectors. This is part of Positive Luxury’s goals.
Co-founder and Co-CEO of Positive Luxury, as well as a pioneer in ESG and a globally recognized figure in the sustainability field, Diana Verde Nieto stated, “Consumers, employees and the investment community are demanding transparency and accountability from brands, and our new Connected Butterfly Mark answers to that. From a single source of truth, people can easily access an unparalleled depth of verified ESG verified performance data, including a brand’s sustainability journey, clearly stating their actions and ambition. This level of disclosure raises the bar, for luxury and beyond.”
Positive Luxury helps luxury companies manage their sustainability risk and opportunities, accelerate efforts to improve ESG performance and leverage sustainability as a driver of positive impact and corporate value. The company helps other companies adapt to the fast-emerging climate economy and ensures they are future-proofed against societal and legislative shifts.
The company’s unique four-part methodology is the only ESG certification designed specifically for the luxury industry and incorporates a unique focus on innovation. Rejecting the traditional model of certification based on past performance, Positive Luxury provides clients with clear gap analysis and tools enabling organizations to embed ESG practices throughout their operations. Their diagnostic and communication tools foster trust amongst stakeholders: consumers, customers, employees, shareholders and investors.
Positive Luxury’s Methodology consists of the following:
Stage 1: Assessment
Their ESG framework, with a unique focus on innovation, is the most comprehensive on the market and has been developed to future-proof one’s company rather than simply audit prior performance.
Stage 2: Certification
Butterfly Mark certification is earned through business transformation, providing comprehensive risk management and independently validated measures to meet growing demands for transparency.
Stage 3: Trust-Building
They provide a comprehensive suite of tools to support one throughout their sustainability journey, ensuring they can credibly communicate the positive impact of their efforts and earn the trust of all their stakeholders.
Stage 4: Future-Proofing
Leveraging their reporting and insights, they will help you prioritize your key areas of opportunity for value generation and competitive advantage, and ensure you are always aware of new legislation.
With a growing community of nearly 200 luxury companies, Positive Luxury has created a community of brands, retailers and suppliers taking tangible action – measuring, managing and reporting their ESG impact. Their new digital Connected Mark will enable businesses to demonstrate their sustainability efforts directly to their consumers and stakeholders with transparent data. The tool can be easily embedded and accessed on a company’s website or retailer’s product pages by clicking a widget button, or via hyperlink, QR code or NFC tag directly from the product or retail environment – from packaging to the shop window.
Easy for clients to install via plug-ins and through the tool’s passport office, consumer behavioral data is directly accessible to Butterfly Mark-certified brands via a dashboard. Blockchain-ready, the Connected Butterfly Mark has been designed to provide product-level traceability in phase 2 (available in 2023). Key features of the Connected Butterfly Mark include decoupled ESG performance scores, educational content for consumers, other certifications and accreditations, United Nations SDG targets and achievements, an areas of excellence map, a sustainability journey tracker, positive actions and company information.
Amy Nelson-Bennett, co-CEO of Positive Luxury responsible for the strategic direction of Positive Luxury, brand and commercial strategy and day-to-day business operations, has been championing a new definition of luxury that aligns the core principle of luxury and sustainability. She aims to accelerate the actions of the luxury industry and the collective positive impact it can make on nature and society.
With over 180 certifications and nearly 200 luxury companies ranging from Dior to Tom Ford Beauty, Positive Luxury and the Connected Butterfly Mark have made major strides to incorporate sustainability into luxury. When it comes to luxury living, it turns out that you really can have your cake—and eat it too.
To learn more about Positive Luxury and the Connected Butterfly Mark, go to www.positiveluxury.com and @Positiveluxury across social media platforms.
