Color forecasting firm Pantone has declared Emerald green as the defining shade for 2013, in a report released December 6.

Color forecasting firm Pantone has declared Emerald green as the defining shade for 2013, in a report released December 6.

For more than a decade, Pantone has selected its Color of the Year, influencing product development and purchasing decisions in multiple industries including fashion, home, and beauty.

2013's shade, PANTONE® 17-5641 Emerald is in stark contrast to last year's "Tangerine Tango". A reddish-pink shade called Honeysuckle (2011) and turquoise blue (2010) are other recent Pantone picks. The color looks set to play a key role in fashion and beauty trends for next year; being favored by designers on the runway.

"As it has throughout history, multifaceted Emerald continues to sparkle and fascinate. Symbolically, Emerald brings a sense of clarity, renewal and rejuvenation, which is so important in today's complex world. This powerful and universally appealing tone translates easily to both fashion and home interiors," said Leatrice Eiseman, executive director of Pantone's research arm known as the Pantone Color Institute.

Emerald tones were noticed at Spring/Summer 2013 ready-to-wear collections from Akris, Acne, Richard Nicoll, Vera Wang and Kenzo among others.

The rich and vibrant tone, evoking refinement and luxury, is often associated with gemstones and will also be incorporated into makeup palettes, enhancing green, blue and hazel eyes.

We're all pretty excited about this colour of the year and can't wait for 2013 to come! Click next to take a look at some of the stars wearing this beautiful colour on the red carpet!