• Elizabeth Banks went to the Vanity Fair Oscars party on Sunday in the same red dress that she wore to the event in 2004.
  • The red Badgley Mischka dress looked almost identical to how Banks wore it 16 years ago.
  • “It’s gorgeous and it fits…so why not wear it again!?” the actress wrote on Instagram.
  • Banks said that she wanted to “bring global awareness to the importance of sustainability in fashion.”
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Joaquin Phoenix isn’t the only star recycling his awards season attire.

Elizabeth Banks went to the Vanity Fair Oscars party on Sunday in the same red dress that she wore to the Vanity Fair Oscars party in 2004.

Elizabeth Bankd 2004 Vanity Fair Oscar Party

Foto: Elizabeth Banks during the 2004 Vanity Fair Oscars Party in Beverly Hills, California.sourceJon Kopaloff/FilmMagic

And Banks looked stunning once again as she showed off the red Badgley Mischka number at the Oscars after-party on Sunday.

Elizabeth Banks 2020 Vanity Fair Oscar Party

Foto: Elizabeth Banks attends the 2020 Vanity Fair Oscar Party on February 9, 2020, in Beverly Hills, California.sourceJon Kopaloff/WireImage

"It's gorgeous and it fits...so why not wear it again!?" the actress wrote on Instagram alongside a post with pictures of herself from both nights.

Banks also revealed that she had "re-imagined" the dress with her stylists Wendy and Nicole Ferreira.

The gown looked almost identical to how Banks wore it in 2004, although this time around it did not feature jewel embellishments in the back.

Elizabeth Banks 2004 Vanity Fair Oscars Party

Foto: Elizabeth Banks during 2004 Vanity Fair Oscars Party in Beverly Hills, California.sourceJon Kopaloff/FilmMagic

Banks also switched up her accessories to update her look on Sunday.

Elizabeth Banks 2020 Vanity Fair Oscars party

Foto: Elizabeth Banks at the 2020 Vanity Fair Oscars party on February 9, 2020 in Beverly Hills, California.sourceJohn Shearer/Getty Images

When she first wore the dress, Banks sported chandelier earrings and a sparkling red clutch.

But the "Charlie's Angels" director kept her look more simple on Sunday, letting her diamond-and-pearl necklace steal the spotlight.

Banks wrote on Instagram that she wanted to "bring global awareness to the importance of sustainability in fashion and consumerism as it relates to climate change, production and consumption, ocean pollution, labor and women."

The actress said she partnered with the foundation Red Carpet Advocacy in support of New Standard Institute, which "helps brands draw down their carbon use and achieve measurable sustainability targets."

Elizabeth Bank Oscars

Foto: Elizabeth Banks showed off her 2020 Vanity Fair Oscars party dress on Instagram.sourceElizabeth Banks/Instagram

Sustainability is becoming more and more prevalent on the red carpet.

Phoenix pledged to wear his Stella McCartney tuxedo throughout this year's awards season in an attempt to reduce waste.

McCartney wrote that she was "proud to join forces" with the "Joker" star.

"This man is a winner," she wrote in a post shared to both Twitter and Instagram. "Wearing custom Stella because he chooses to make choices for the future of the planet."