Not only has award winner Sandra Bullock looked stunning on the red carpet this year, it seems she's been looking good for a cause.

Celebrity and First Lady-favored jeweler Bochic has launched a charitable initiative in conjunction with the 2010 awards season. Any of the brand's pieces worn by a star on one of the famed red carpets will be auctioned off this spring, with 100% of the proceeds going to Charity: Water to support clean drinking solutions in Haiti.

After hearing this plan, Bullock donned a diamond-adorned Bochic bangle -- with an Alexander McQueen dress -- for her victorious night at the 2010 SAG Awards and now the $5,250 black Bakelite dazzler, with 18kt white gold and diamond detailing, will go to the highest bidder in April.

"We love Sandra, we have worked with her in the past," Bochic founder David Joseph told StyleList. "She is a very caring individual and we are beyond thrilled to have her support in this charitable initiative."

While Bochic anticipates more celebrities signing on for the cause, our eyes will be glued on Bullock's wrists, neck and ears on Mar. 7, when she walks the Oscars red carpet as a Best Leading Actress nominee, to see what might be up for grabs next.

See what additional efforts the fashion industry is making to assist Haitian relief efforts and which other actress is using accessories to help the country.

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