The Executive Director of the Centre for Social Innovation at Cambridge Judge, Dr Neil Stott, wrote a foreword for a publication that stresses the importance of sustainability for the luxury goods industry.
The report issued by the group Positive Luxury “highlights the importance of leadership for social change which aims to have a positive social impact whilst creating sustainable, social and economic value,” Neil wrote.
“This report provides the luxury industry with an insight into the tools available to them which will enable the industry to be at the forefront of change, whilst highlighting the value of communicating the positive steps that they are taking towards a sustainable future.”
The report entitled “2016 Predictions for the luxury industry: sustainability & innovation” looks at how businesses in the luxury goods sector can invest in social good and environmental responsibility.
“Raw material quality is critical in the creation of premium products, and many of these materials derive from ecological processes that can be easily disrupted by climate change,” says the report’s Executive Summary.
“For years, investors have focused on a company’s financial performance and determined whether purchasing stock was worth it based on the company’s profitability,” wrote Diana Verde Nieto, CEO of Positive Luxury. “Now, sustainable investing strategies are growing, as investors are realising that performance is intertwined with future social and environmental impact.”