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Climate Action 15: 2024's top global innovators powering green solutions

It’s one thing to read about <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">climate change</keyword> and <keyword id="19951337" type="General" weightage="20" keywordseo="carbon-emissions" source="keywords">carbon emissions</keyword> in an article, and quite another to <em>see </em>the toxic fumes engulfing your entire country — swirling over it like a certain menacing doom.<br /><br /><keyword id="19935155" type="General" weightage="20" keywordseo="NASA" source="keywords" meta.keywordsubtype="org" meta.entityname="NASA" meta.hostid="261" meta.entityid="NASA">NASA</keyword> recently unveiled a groundbreaking visualisation tool that offers an unprecedented look at how carbon dioxide (CO2) moves around our planet. This high-resolution model provides a stunning, animated map of <keyword id="22576003" type="General" weightage="20" keywordseo="global-CO2-concentrations" source="keywords">global CO2 concentrations</keyword>, revealing the complex patterns of this crucial <keyword id="20719964" type="General" weightage="20" keywordseo="greenhouse-gas" source="keywords">greenhouse gas</keyword>.<br />   <div type="Youtube" id="zZ-lMDtiI-k" title="Model Behavior: Visualizing Global Carbon Dioxide" thumbUrl="https://i.ytimg.com/vi/zZ-lMDtiI-k/mqdefault.jpg"><url><![CDATA[https://www.youtube.com/watch?v=zZ-lMDtiI-k]]></url></div>By combining billions of data points from satellites and ground observations, NASA scientists created a dynamic picture of how CO2 is emitted, transported, and absorbed across the globe. This interactive map showcases <keyword id="22576002" type="General" weightage="20" keywordseo="CO2-concentrations" source="keywords">CO2 concentrations</keyword> as they shifted through Earth's atmosphere from January to March 2020, influenced by wind patterns and atmospheric circulation. With its exceptional detail, you can zoom in to pinpoint CO2 emissions rising from power plants, fires, and urban areas, as they spread across continents and oceans.<br /><br />Over India, you can see the greenhouse gas blowing over from neighbouring continents and also originating from the subcontinent. The pulsating oranges indicate CO2 concentrations of 420-460 ppm over India.<br /><h2>The sources of CO2<br /></h2>One of the most striking features of the map is its ability to zoom in on specific regions, allowing viewers to see CO2 emissions rising from individual cities and industrial complexes. This level of detail provides a clear and compelling picture of human activities' impact on the environment.<br /><br />The map highlights distinct emission patterns across different regions. In China, the United States, and South Asia, power plants, industrial facilities, and vehicles were the primary contributors to CO2 emissions. Conversely, in Africa and South America, fires ignited by land management practices, agricultural burning, and deforestation, along with the combustion of oil and coal, were the main sources.<br /><br /><h2>Pulsating gases</h2>The map also highlights the role of natural systems in the carbon cycle. Forests, oceans, and other ecosystems absorb vast amounts of CO2, acting as vital carbon sinks. However, the visualisation also reveals how human activities are overwhelming these natural systems, leading to a buildup of CO2 in the atmosphere.<br /><br />Further, the map exhibits a pulsating appearance. This is because, firstly, fires typically intensify during daylight hours and subside at night, creating a diurnal pattern. Secondly, the absorption and release of CO2 by plants during photosynthesis and respiration contribute to the fluctuations. This pulsing effect is particularly noticeable in regions with abundant vegetation, such as mid- to high-latitude forests and tropical areas.<br />  <div type="Article" hostid="261" msid="112021374" title="Scientists found a groundbreaking new reason to plant more trees" mstype="2" mssubtype="0"></div>“This map is a powerful tool for understanding the scale and complexity of the climate crisis,” said [Quote from NASA scientist]. “It shows us where the biggest problems are and where we need to focus our efforts to reduce emissions.”<br /><br />The data behind the map comes from NASA's <keyword id="22576004" type="General" weightage="20" keywordseo="goddard-earth-observing-system" source="keywords">Goddard Earth Observing System</keyword> (GEOS), a sophisticated model that simulates Earth's atmosphere with incredible detail. By applying this model to CO2, scientists have gained new insights into the gas's behaviour and its impact on the planet.<br /><br />As the world grapples with the challenges of climate change, tools like this are essential for informing policy decisions, tracking progress, and inspiring action. NASA’s CO2 map is a remarkable achievement that offers a glimpse into the urgent need to transition to a low-carbon future.<br />  <div type="Article" hostid="261" msid="111566431" title="June warmest on record; every month since July 2023 breached 1.5 deg C threshold" mstype="2" mssubtype="0"></div>

WATCH: A NASA animation shows gigantic plumes of carbon dioxide emissions swirling over India

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> requires an investment support of USD 1.4 trillion — an average of USD 28 billion per year — to become a net-zero economy by 2070 and raising <keyword id="20260327" type="General" weightage="20" keywordseo="financial-resources" source="keywords">financial resources</keyword> for adaptation and mitigation action of this scale is an "unprecedented challenge", according to the <keyword id="20613906" type="General" weightage="20" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> 2023-24 tabled in Parliament on Monday. Reaching net zero means achieving a balance between greenhouse gas emissions and the amount of these gases removed from the atmosphere by either natural processes, such as photosynthesis, or by other methods of carbon capture and storage. <br /><br />The consolidated report on the state of the economy in the previous year said India's climate action has been largely financed through domestic resources and the flow of international finance has been "very limited". <br /><br />Citing the Reserve Bank of India's (RBI) data, the report said bridging the "substantial funding gap" necessitates allocating 2.5 per cent of India's annual Gross Domestic Product (GDP) to <keyword id="20018880" type="General" weightage="20" keywordseo="green-finance" source="keywords">green finance</keyword>. <br /><br />"Preliminary estimates indicate that the aggregate investment support required by India to achieve its 2070 net-zero target will be USD 1.4 trillion at an average of USD 28 billion per year. Raising financial resources for <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">climate change</keyword> adaptation and mitigation actions of this scale is an unprecedented challenge," the document read. <br /><br />A 2022 report by the Climate Policy Initiative found that domestic sources accounted for the majority of green finance in India, at 87 per cent and 83 per cent in financial years 2019 and 2020 respectively. <br /><br />While international sources are increasing (from 13 per cent in FY 2019 to 17 per cent in FY 2020), the economic survey said they are still insufficient to meet India's net-zero target. <br /><br />"Mobilising substantial capital from traditional sources presents multifaceted challenges in emerging economies like India. The perceived sovereign risks associated with emerging market and developing economies (EMDEs) and the capital-intensive nature of such projects, coupled with lengthy gestation periods and evolving regulatory frameworks, can create misalignment between investor expectations and project timelines," the government said. <br /><br />The economic survey also noted that the flows of global capital to <keyword id="20200084" type="General" weightage="20" keywordseo="developing-countries" source="keywords">developing countries</keyword> have been impeded by high costs of capital. <br /><br />Despite securing a good rating on its green-bond framework, Indian sovereign <keyword id="20177085" type="General" weightage="20" keywordseo="green-bonds" source="keywords">green bonds</keyword> have hardly received any "greenium" from private investors. It is more a "wall of capital" than a "flood of capital" that is waiting to fund energy transition in EMDEs. It is just not mobile. All of these together have severely hampered the flow of finance for green-transition projects, the survey said. <br /><br />"Greenium" or green premium refers to the savings an issuer of a green bond realises on the associated coupon payment because the bond is green. <br /><br />Financial support to help middle-income and poor countries fight climate change will be at the centre of this year's UN climate conference in Baku, Azerbaijan, where the world will reach the deadline to agree on the New Collective Quantified Goal (NCQG) -- the new amount developed nations must mobilise every year starting 2025 to support climate action in developing countries. <br /><br />But achieving consensus will not be easy, given the disappointing progress made on major conflict points at the mid-year UN climate talks in Bonn, Germany. <br /><br />At the 2009 UN climate conference in Copenhagen, rich nations pledged to provide USD 100 billion annually from 2020 to help developing countries mitigate and adapt to climate change. However, delays in achieving this goal have eroded trust between developed and developing nations and have been a continual source of contention during annual climate negotiations. <br /><br />In May, the Organisation for Economic Cooperation and Development (OECD) claimed that developed countries had met the long-standing USD 100 billion-a-year promise by providing nearly USD 116 billion in <keyword id="20000757" type="General" weightage="20" keywordseo="climate-finance" source="keywords">climate finance</keyword> to developing countries in 2022, with nearly 70 per cent of the money given in the form of loans. <br /><br />However, international non-profit organisation Oxfam last week said climate finance provided by rich countries in 2022 totalled no more than USD 35 billion. <br /><br />Developing nations argue that they cannot be expected to reduce carbon dioxide (CO2) emissions faster if developed countries -- historically responsible for climate change -- do not provide enhanced financial support. Rich countries are now expected to raise more than USD 100 billion, with developing countries, including India, demanding trillions of dollars to tackle climate change.

Raising massive financial resources for net-zero goal unprecedented challenge: Economic Survey

A day ahead of the final Budget presentation, India released the <keyword id="20613906" type="General" weightage="100" keywordseo="economic-survey" source="keywords">Economic Survey</keyword> 2023-2024, outlining a plethora of optimistic — and some bittersweet — indicators of the health of the nation’s economy. When you consider the climate-related aspects of the report, there’s a ton of good news: we have achieved massive strides in clean power generation, while cutting out a ton of dirty emissions from our products.<br /><br />However, scroll down to the bottom of the report, and you find a scathing criticism of the “western” approach to climate change. Here's a closer look at why, and what clues do such narratives hold about India's <keyword id="22513472" type="General" weightage="20" keywordseo="environmental-strategy" source="keywords">environmental strategy</keyword> in coming years.<br /><h2>Problems with the “Western way”</h2>The major criticism, as per the survey, is that the Western approach to climate change is far too alarmist. They argue that this “one-size-fits-all” attitude often fails to account for the diverse needs of countries like India. To that end, it also points out that the Intergovernmental Panel on Climate Change (IPCC) promotes "accelerated and equitable mitigation pathways" that don't always align with the developmental priorities of <keyword id="20353838" type="General" weightage="20" keywordseo="developing-nations" source="keywords">developing nations</keyword>.<br /><br />Additionally, the report notes that Western solutions often prioritise market-based strategies to sustain high consumption levels rather than addressing the root issue of overconsumption. The survey emphasises that <keyword id="20224417" type="General" weightage="20" keywordseo="sustainable-living" source="keywords">sustainable living</keyword> is deeply ingrained in <keyword id="19983840" type="General" weightage="20" keywordseo="Indian-culture" source="keywords">Indian culture</keyword>, which contrasts sharply with the consumption-driven lifestyle prevalent in the West. This focus on high consumption misses the mark, as it doesn't consider the environmental impact of such lifestyles.<br /><br />And for the most part, this bit is true; Indian history is enriched with traditions that emphasise the conservation of nature. As <a href="https://onlinelibrary.wiley.com/doi/10.1155/2017/3828609">per estimates</a>, religious practices have preserved an estimated 1.5 lakh sacred groves across India, and natural conservation efforts can be traced back to the time of Ashoka.<br />    <div type="Article" hostid="261" msid="111925936" title="Economic Survey 2023-24: Where does India stand on the employment, and what&amp;#39;s next?" mstype="2" mssubtype="0"></div>Therefore, it may not be entirely inaccurate to say that in India, sustainability isn't a new concept; it's a way of life. Traditional Indian practices like using reusable materials, upcycling, and embracing minimalism have always promoted sustainability. The survey highlights that these practices are now threatened by Western capitalist ideals that equate consumption with progress. By returning to these roots, India can offer a model of sustainability that's both practical and culturally relevant.<br /><h2>Fixation on technical solutions</h2>The Economic Survey also critiques the Western obsession with high-tech solutions, such as solar-powered buildings and electric vehicles. These solutions require substantial financial and infrastructural resources that many developing countries simply don't have. Moreover, they often overlook the broader environmental impact and lifecycle costs associated with urban sprawl and high-density living. Instead, the survey suggests that simpler, more holistic solutions might be more effective and sustainable.<br />    <div type="Article" hostid="261" msid="111774972" title="Economic Survey shows India&amp;#39;s energy needs to grow 2.5x, healthy growth in formal employment" mstype="2" mssubtype="0"></div>However, this does not mean that India refuses to embrace greener tech. Not only has the country launched various initiatives to promote energy efficiency and reduce carbon emissions, it also aims to to generate 40% of its energy from non-fossil fuel sources by 2030. As per the report, India is the only G20 country on track to meet the 2°C warming commitment under the Paris Agreement, with significant investments in <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword>, particularly solar power.<br /><h2><keyword id="20269618" type="General" weightage="20" keywordseo="Mission-LiFE" source="keywords" meta.keywordsubtype="org" meta.entityname="Mission LiFE" meta.hostid="261" meta.entityid="Mission LiFE">Mission LiFE</keyword>: A sustainable initiative</h2>In order to help reinforce and rejuvenate the Indian way, the survey highlights Prime Minister Modi's Lifestyle for Environment initiative, or Mission LiFE. This initiative underscores individual responsibility in combating climate change, drawing from ancient Indian philosophy that advocates for a naturally sustainable lifestyle. By focusing on small, individual actions that collectively lead to significant environmental benefits, Mission LiFE contrasts sharply with the Western top-down policy approach. This grassroots strategy could be key to achieving real, lasting change, the report asserts.<br />    <div type="Article" hostid="261" msid="111927198" title="On the right track — Economic Survey 2023-24 outlines India’s commendable climate action" mstype="2" mssubtype="0"></div>All in all, the report challenges the dominance of Western policies and offers a pathway that could be more adaptable and relevant for other developing nations facing similar challenges. With its ongoing progress towards climate goals, India is well-placed to lead by example, showcasing a sustainable and culturally attuned approach to environmental stewardship.<br />

Why did the latest Economic Survey of India heavily shun the ‘Western ways’ of climate action?

On Monday, July 22, Finance Minister <keyword id="22504403" type="General" weightage="20" keywordseo="nirmal-sitharaman" source="keywords">Nirmal Sitharaman</keyword> tabled the <keyword id="20613906" type="General" weightage="100" keywordseo="economic-survey" source="keywords">Economic Survey</keyword> 2023-24 in the parliament ahead of the much-awaited budget 2024 tomorrow. In addition to a socio-economic stock take, the comprehensive report also outlines the strides India has made on the environment and climate fronts last year.<br /><br />India is in a weird grey area when the climate blame-game is concerned. We continue to average some of the lowest per capita CO2 emissions in the world. But, being the most-populous country in the world, these small bits add up to make India the third-largest emitter of CO2 in the world, after China and the United States.<br /><div type="Article" hostid="261" msid="111923746" title="Economic Survey 2023-2024 highlights emerging job trends in AI, Cybersecurity, 3D Printing and Web Development" mstype="2" mssubtype="0"></div>However, this is not to say that the country has been sitting the green transition out either. As highlighted in the Economic Survey, India has been making notable strides in tackling climate change and promoting <keyword id="19895783" type="General" weightage="20" keywordseo="sustainability" source="keywords">sustainability</keyword> — efforts that will be crucial to protect billions in the coming years and decades. Let's take a look at these efforts and compare them with findings from other recent environmental reports to see the full picture.<br /><h2><keyword id="21818512" type="General" weightage="20" keywordseo="emission-intensity" source="keywords">Emission intensity</keyword> reduction</h2>The economic survey proudly states that India has reduced the emission intensity of its GDP by 33% from 2005 levels by 2019. This means the country is producing less greenhouse gas for every unit of economic activity.<br /><br />This is a commendable achievement because India’s original climate change target — or Nationally Determined Contribution — was set to precisely 33% reduction of emission intensity by 2030, before being revised to 45% in 2022. While the jump from 33% to 45% is still a significant one with barely half a decade to go, this progress is a clear sign that India’s climate policies are having a real impact.<br /><h2><keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">Renewable energy</keyword> capacity</h2>According to the economic survey, 45.4% of India’s installed electricity generation capacity — which includes solar, wind, and hydropower — now comes from non-fossil sources, as of May 31, 2024. <br /><div type="Article" hostid="261" msid="111774972" title="Economic Survey shows India&amp;#39;s energy needs to grow 2.5x, healthy growth in formal employment" mstype="2" mssubtype="0"></div>As per reports by the Ministry of New &amp; Renewable Energy, India added a record renewable energy capacity of 18.48 GW in 2023-2024, with solar installations amounting to 12.78 GW, followed by 2.27 GW of wind energy. However, industry experts have also noted that India Inc. cannot afford to run out of steam now, and must continue to add at least 50 GW for the next six years to meet the target of 500 GW of renewables by 2030.<br /><h2>Indian energy needs</h2>India's energy needs are expected to grow 2 to 2.5 times by 2047, as per the latest economic survey. This necessitates a balanced approach to <keyword id="19951336" type="General" weightage="20" keywordseo="energy-transition" source="keywords">energy transition</keyword> that considers resource limitations and the need for resilience to climate change.<br /><br />India has suffered from an overdependence on coal and fossil fuels in the past, accounting for around 75% of total energy generation in 2021, as per the Energy Information Administration. However, this number has been quickly falling, even dropping below a historic 50% in Q1 2024.<br /><h2>Sovereign <keyword id="20177085" type="General" weightage="20" keywordseo="green-bonds" source="keywords">green bonds</keyword></h2>To fund green projects, India issued Rs 16,000 Crore in sovereign green bonds — financial instruments that support green projects at lower capital costs — in early 2023 and another Rs 20,000 Crore later in the year, the economic survey reports. As per the government, these proceeds were utilised in many eco-friendly projects, such as New and Renewable Energy, Environment, Forests and Climate Change, Housing and Urban Affairs, Railways. To widen the investor base, the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI) also recently permitted eligible foreign investors to invest in such bonds.<br /><h2>Mission LiFE and Green Credit Programme</h2>The survey also talks extensively about Mission LiFE (Lifestyle for Environment), which promotes sustainable living, and the Green Credit Programme (GCP), which incentivises eco-friendly actions by offering “green credits”.<br /><br />In the past few months, Madhya Pradesh, Telangana and a few other states have reportedly approved thousands of hectares of degraded forest land for greening exercises as part of the GCP.<br /><h2>International initiatives</h2>India has spearheaded several international initiatives such as the International Solar Alliance (ISA), One World, One Sun, One Grid (OSOWOG), the Coalition for Disaster Resilient Infrastructure (CDRI), the Infrastructure for Resilient Island States’ (IRIS) and the Leadership Group for Industry Transition (LeadIT). Hundreds of nations are signed up for these climate coalitions and our participation will help reflect India's commitment to advancing global <keyword id="20000756" type="General" weightage="20" keywordseo="climate-action" source="keywords">climate action</keyword> and fostering international cooperation in sustainable development.<br /><div type="Article" hostid="261" msid="111923191" title="Economic Survey 2024 – industries grow by 9.5%, fueling economic growth to 8.2%" mstype="2" mssubtype="0"></div>The report even notes that India is currently the only G20 nation who is set not to cross the 2°C warming threshold. All in all, India’s economic survey and environmental reports together show a nation making impressive progress in combating climate change and advancing sustainability. These achievements will hopefully set a strong example for other countries to follow.<br />

On the right track — Economic Survey 2023-24 outlines India’s commendable climate action

The effects of poisonous gases that leaked from the <keyword id="23933468" type="General" weightage="20" keywordseo="Union-Carbide" source="keywords">Union Carbide</keyword> factory in Madhya Pradesh's Bhopal 40 years ago were seen in the next generations of those who survived the tragedy, a former government forensic doctor has said. At least 3,787 people were killed, and more than five lakh were affected after a toxic gas leaked from the pesticide factory in the city on the intervening nights of December 2 and 3, 1984. <br /><br />Speaking at an event held by organisations of gas tragedy survivors on Saturday, Dr. D. K Satpathy, former head of the forensics department of Bhopal's Gandhi Medical College, said he performed 875 post-mortems on the first day of the disaster and witnessed 18,000 autopsies the next five years. <br /><br />Sathpathy claimed Union Carbide had denied questions about the effects of poisonous gases on unborn children of women survivors and said effects would not cross the placental barrier in the womb in any condition. <br /><br />He said blood samples of pregnant women who died in the tragedy were examined, and it was found that 50% of the poisonous substances found in the mother were also found in the child in her womb. <br /><br />Children born to surviving mothers had the poisonous substances in their system, and this affected the health of the next generation, Sathpathy claimed and questioned why research on this was stopped. <br /><br />Such effects will continue for generations, he said. <br /><br />Satpathy said it was said that MIC gas leaked from the Union Carbide plant, and when it came in contact with water, thousands of gases were formed, and some of these caused cancer, blood pressure, and liver damage. <br /><br />Rachna Dhingra of <keyword id="24137747" type="General" weightage="20" keywordseo="Bhopal-Group-for-Information-and-Action" source="keywords" meta.keywordsubtype="org" meta.entityname="Bhopal Group for Information and Action" meta.hostid="83" meta.entityid="Bhopal Group for Information and Action">Bhopal Group for Information and Action</keyword> said Satpathy, who carried out most autopsies, and other first responders in the 1984 disaster, including the senior doctors in the emergency ward and persons involved in mass burials, narrated their experiences during the event. <br /><br />Rashida Bee, president of the Bhopal Gas Peedit Mahila Stationery Karmchari Sangh, said a poster exhibition covering every aspect of the disaster will be held till December 4 to mark the 40th anniversary of the tragedy. <br /><br />An anniversary rally will be organised, with a focus on global corporate crimes such as <keyword id="20335495" type="General" weightage="20" keywordseo="industrial-pollution" source="keywords">industrial pollution</keyword> and climate change, she said.

Bhopal gas tragedy: Effects of leak seen in next generation of survivors, says ex-forensic doctor

<ul class="summary-list"><li>The climate crisis is affecting business across industries, and the art market is no exception.</li><li>Art investors, collectors, and curators can take steps to build more sustainable portfolios.</li></ul><p>In an era when the climate crisis is <a target="_blank" class="" href="https://www.businessinsider.com/extreme-weather-biggest-concern-business-leaders-politicians-world-economic-forum-2024-1">redefining</a> business across industries worldwide, the art market is also faced with the need to adapt to the effects of <a target="_blank" class="" href="https://www.businessinsider.com/worlds-largest-carbon-removal-plant-iceland-climeworks-2024-5">rising emissions</a>.</p><p><a target="_blank" class="" href="https://www.businessinsider.com/climate-change-migration-where-moved-escape-natural-disasters-extreme-weather">Extreme weather events</a>, <a target="_blank" class="" href="https://www.businessinsider.com/more-expensive-cool-home-this-summer-extreme-heat-energy-bills-2024-6">temperature fluctuations</a>, and pollution are no longer abstract concerns but tangible threats to the longevity of art collections. Pollutants such as sulfur dioxide and nitrogen oxides, produced from fossil fuel combustion, can <a target="_blank" href="https://www.jstor.org/stable/1506270">cause pigments to degrade more rapidly</a> than in controlled environments. This could reduce both the lifespan and the <a target="_blank" href="https://www.theeditgallery.com/blog/7-factors-that-determine-the-commercial-value-of-art/">value</a> of artworks.</p><p>As a result, some investors, collectors, and gallery curators in the art market are placing emphasis on environmental responsibility when assembling their portfolios — part of a practice called "<a target="_blank" class="" href="https://www.businessinsider.com/companies-still-doing-esg-work-despite-politics-criticism-2023-11">impact investing</a>."</p><p>Hauser &amp; Wirth, a gallery at the forefront of this movement, has set a new precedent for major galleries by <a target="_blank" href="https://www.hauserwirth.com/sustainability/">committing to reduce at least 50%</a> of its greenhouse-gas emissions by 2030 by adopting <a target="_blank" class="" href="https://www.businessinsider.com/us-renewable-energy-transition-solar-electric-vehicles-hit-records-2024-2">renewable energy</a>, reducing freight travel, and <a target="_blank" href="https://www.hauserwirth.com/resources/36036-industry-collaboration/">collaborating</a> with climate-conscious artists who promote sustainable practices in the industry. The gallery's approach exemplifies how investors in the art world can adapt to and mitigate the effects of the climate crisis when curating their collections.</p><p>From investing in artists who also prioritize environmental awareness to adopting renewable energy in art facilities, here are four green strategies for building a low-carbon art portfolio.</p><h2 id="eb55b99a-543e-4bfe-98c5-a5aa201f34dd"><strong>Invest in artists who promote environmental awareness</strong></h2><p>Some artworks that tackle environmental themes have been <a target="_blank" href="https://www.christies.com/about-us/press-archive/details?PressReleaseID=10156">rising in market value</a>, as more collectors and galleries recognize the growing importance of backing artists whose work resonates with the <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-climate-jobs-skills-gap-linkedin-2024-6">climate priorities</a> of younger generations.</p><p>The value of art is often linked with its cultural relevance — aligning a portfolio with social-impact initiatives can elevate its worth by tackling current issues.</p><p>For instance, <a target="_blank" href="https://www.bohnettfoundation.org/david-bohnett-bio/">David Bohnett</a>, a philanthropist and tech entrepreneur, is known for his contemporary art collection focused on social justice and sustainable art. His collection features notable figures like <a target="_blank" href="https://www.haring.com">Keith Haring</a>, an artist who championed LGBTQ+ rights, and <a target="_blank" href="https://www.instagram.com/robbieconal/?hl=en">Robbie Conal</a>, known for his street art critiquing societal and environmental injustices. Bohnett's portfolio, estimated to be worth <a target="_blank" href="https://labusinessjournal.com/news/weekly-news/former-internet-executive-social-causes-technology/">$300 million,</a> reflects a broader trend in which a growing demand for civic art, especially in niche markets, can drive value appreciation.</p><h2 id="c0c53a51-5816-44cd-a0ba-94f9de2cf87b"><strong>Reduce carbon emissions in transportation</strong></h2><p>From public exhibits to private collections, the global transportation of art can significantly increase the carbon footprints of galleries, collectors, and investors — especially when air travel is involved.</p><p>Our World in Data found that air travel is one of the <a target="_blank" href="https://ourworldindata.org/global-aviation-emissions">most carbon-intensive shipping methods.</a> Exploring transportation alternatives offers collectors an opportunity to make a substantial impact.</p><p>The art collector <a target="_blank" href="https://affiliate.insider.com?h=92e88559d49ece5eda2f8562277f4b94f913cc23f9e8a016a985b0ef95f48097&amp;postID=66e3163c78044123bec3af96&amp;postSlug=art-investors-collectors-gallery-curators-build-sustainable-climate-portfolio-2024-9&amp;site=bi&amp;u=https%3A%2F%2Fwww.sothebys.com%2Fen%2Farticles%2Feco-revolution">Sibylle Rochat</a> opts for consolidated land transport that combines multiple shipments into one vehicle and sea freights that use fuel-efficient ships for long distances, both of which can significantly <a target="_blank" href="https://www.freightos.com/freight-resources/air-sea-freight-co2-emissions-calculator/#:~:text=How%20Much%20CO%E2%82%82%20Does%20A,ton%20per%20kilometer%20of%20transportation.">reduce</a> carbon emissions.</p><h2 id="474b1606-7596-45e5-9875-3a6bdb4ce3e9"><strong>Transition to renewable energy for art facilities</strong></h2><p>Art storage facilities are designed to maintain optimal conditions for artworks, ensuring appropriate temperature, humidity, and lighting to prevent deterioration or damage.</p><p>These sites traditionally rely on energy-intensive climate-control systems powered by fossil fuels. By transitioning to renewable energy sources like <a target="_blank" class="" href="https://www.businessinsider.com/fastest-growing-career-wind-technicians-job-salary-us-2024-6">wind</a> and <a target="_blank" class="" href="https://www.businessinsider.com/solar-careers-in-demand-workforce-shortage-2024-7">solar</a>, upgrading climate-control systems for greater energy efficiency, and adopting LED lighting that can cut energy <a target="_blank" href="https://www.energy.gov/energysaver/led-lighting">consumption by up to 75%</a>, collectors and gallery curators can reduce the environmental impact of their art storage.</p><p>The art collector <a target="_blank" href="https://www.theartnewspaper.com/2020/05/29/the-green-debate-how-can-the-international-art-market-recover-sustainably">Patrizia Sandretto Re Rebaudengo</a> is known for her philanthropic work in the arts and sustainability. She plans to transform the small Italian island of San Giacomo into an art center with galleries, performances, and educational programming. The island is set to open to the public in 2026 and will be <a target="_blank" class="" href="https://affiliate.insider.com?h=2076c8cb19f6cc35f23092635f451d8381d45772c637e5fbd05ed2e083ce1cfd&amp;postID=66e3163c78044123bec3af96&amp;postSlug=art-investors-collectors-gallery-curators-build-sustainable-climate-portfolio-2024-9&amp;site=bi&amp;u=https%3A%2F%2Fwww.sothebys.com%2Fen%2Farticles%2Fgulls-gunpowder-and-avant-garde-art-patrizia-sandretto-re-rebaudengos-venetian-dream">fully powered by green energy</a>, Sandretto Re Rebaudengo said.</p><div type="image" title="Patrizia Sandretto Re Rebaudengo standing in front of a red tree sculpture with ornaments hanging from the branches." height="683" width="1024" msid="113607066" hostid="261" sizebytes="42906"></div><h2 id="974da666-4871-4b46-9045-bbd114022b5f"><strong>Go digital</strong></h2><p>The international art circuit consists of global <a target="_blank" class="" href="https://www.businessinsider.com/art-basel-unlimited-switzerland-curator-shares-how-exhibit-comes-together-2024-6">exhibitions</a>, events, and art auctions. It has long relied on extensive travel and foot traffic that can increase the industry's carbon footprint.</p><p>As digital platforms gain widespread adoption, online exhibits present a cost-effective way to diversify investments while reducing transportation and storage needs.</p><p>The COVID-19 pandemic prompted galleries like <a target="_blank" href="https://deitch.com/archive/deitch-projects">Deitch Projects</a> to adopt digital showcases and <a target="_blank" href="https://www.nytimes.com/2020/04/23/arts/design/los-angeles-galleries-coronavirus.html">online viewing rooms</a>, reducing international travel and reshaping art acquisition practices. The <a target="_blank" href="https://www.stephenfriedman.com/viewing-room/">Stephen Friedman Gallery</a> is hosting five online viewing room showcases throughout 2024, bringing in-person exhibitions directly to screens at home.</p><p>Collectors, gallery curators, and investors play a crucial role in shaping a sustainable future. The assembly of portfolios that prioritize environmental responsibility actively contributes to a greener legacy that will inspire future generations to take action and stand as a testament to art's power to shape a better world.</p><p>From supporting artists who promote environmental awareness to reducing carbon footprints in operations and embracing digital platforms, collectors, gallery curators, and investors are preserving art and its legacy in their fight to curb the climate crisis.</p>

I'm an artist calling for change in the climate-crisis fight. Here are 4 ways art investors can build greener portfolios.

<ul><li>In recent years, Bhumi has stepped onto a bigger stage – one where the spotlight shines on environmental and climate awareness. </li><li>Acknowledging her efforts, the <keyword id="19984049" type="General" weightage="20" keywordseo="UNDP" source="keywords">UNDP</keyword> named her as India's first National Advocate for <keyword id="19950641" type="General" weightage="20" keywordseo="sustainable-development-goals" source="keywords">Sustainable Development Goals</keyword> (SDGs).</li><li>In an exclusive interview with <keyword id="21390875" type="General" weightage="20" keywordseo="Business-Insider-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Business Insider India" meta.hostid="261" meta.entityid="Business Insider India">Business Insider India</keyword>, <keyword id="19939209" type="General" weightage="100" keywordseo="Bhumi-Pednekar" source="keywords">Bhumi Pednekar</keyword> spoke about her struggles with eco-anxiety and her take on the <keyword id="20000756" type="General" weightage="20" keywordseo="climate-action" source="keywords">climate action</keyword>.</li></ul><br />Lights, camera, Earth!<br /><br /><br />When we first saw Bhumi Pednekar in <em>Dum Laga Ke Haisha </em>in 2015, we witnessed her impressive acting skills and her ability to connect with the audience. With time, she grew into a formidable presence on the Indian cinema landscape, paving the way for socially-aware, yet entertaining filmography.<br /><br /><br />In recent years, this Bollywood superstar has stepped onto a bigger stage – one where the spotlight shines on environmental and climate awareness. In a world where the spotlight often blinds stars to the sufferings of the planet and its people, Bhumi reminds us that every person on this planet needs to keep that spark for eco-consciousness alive.<br /><br /><br />In an exclusive interview with Business Insider India, Bhumi Pednekar spoke about her struggles with eco-anxiety during her early years, her efforts to strike a balance between her professional career and environmental responsibilities, her advice for the younger audience, and her take on the climate action across the globe.<br /><br /><br /><a href="https://www.youtube.com/watch?v=QDxplE0_Os4" data-type="tilCustomLink">Catch the full interview here!</a><br /><br />                <div type="image" title="Actress Bhumi Pednekar" agency="Business Insider India" msid="109502773" hostid="261" caption="&amp;lt;p&amp;gt;Actress Bhumi Pednekar&amp;lt;/p&amp;gt;"></div><br /><br />“When I started my climate journey, it was a very lonely path for me, Every time I spoke about it, people made fun of me. Eventually, through the years, I met like-minded people, and I realised that this is a real problem. Even today, I get really worried, I have bouts of anxiety and go into a spiral that you know, what will happen now and so on. In such times, what truly helps me is to actually do something towards dealing with the problem,” says Bhumi.<br /><br /><br />Acknowledging her efforts to spread awareness on these critical topics, the United Nations Development Programme (UNDP) named her as India's first National Advocate for Sustainable Development Goals (SDGs). Just last month, the World Economic Forum (WEF) recognised her as a Young Global Leader (YGL). On <keyword id="21293562" type="General" weightage="20" keywordseo="Earth-Day" source="keywords">Earth Day</keyword> 2024, she also joined UNDP’s global initiative called the ‘The Weather Kids’ — a global campaign to raise awareness about climate change and drive the world towards taking meaningful climate action.<br /><br /><br />Talking about the campaign Bhumi Pednekar stated, "I’m deeply disturbed by Climate Change and the impact that it is having the world over. I have dedicated my life to working on this and helping raise awareness… I have always been committed to using my platform to raise awareness about the urgency of climate action and to empower individuals and communities to adopt sustainable practices. Together, we can make a difference and create a more sustainable and resilient world for future generations.”<br /><br /><br />Further, Bhumi’s role as a <keyword id="21390874" type="General" weightage="20" keywordseo="climate-warrior" source="keywords">climate warrior</keyword> has also seen her collaborating with activists and institutions nationwide, amplifying their voices and supporting initiatives focused on environmental preservation and climate action. As an ardent advocate for environmental and climate action, she has effectively utilised her fame to champion causes like waste segregation, rainwater harvesting, recycling, and conscious fashion choices.<br /><br />                <div type="image" title="Actress Bhumi Pednekar" agency="Business Insider India" msid="109503174" hostid="261" caption="&amp;lt;p&amp;gt;Actress Bhumi Pednekar&amp;lt;/p&amp;gt;"></div><br />  <br />“Climate Warrior, which is our nonprofit, is an advocacy platform I started in 2019. The idea was to bring all the work of creating awareness under one umbrella. And then we started the Bhumi Foundation, through which we are again just trying to streamline everything that we do, we have not opened it up for others to come in and work,” said Bhumi, encouraging younger generations to also find their own tribe to influence and drive change.<br /><br /><br />The theme for today’s World Earth Day 2024 is Planet Vs Plastic, and it is time for all of us to gauge our individual and collective impact on our environment and try to reduce it. “One big thing that we can do is to look for and support businesses that are trying to go green and create a positive impact on our planet. If investors support such businesses, and consumers pick such products, our carbon footprint can be lesser,” explains Bhumi.<br /><br /><br />“Every day is Earth Day. This is our only home, there is no alternative, and there is no plan B! The way we show empathy and sympathy towards our loved ones, we should show empathy towards everybody else that we share this planet with. It really breaks my heart when you see on the news that a major city like Bangalore is still witnessing a water crisis and our capital city Delhi has winter days where schools are canceled because of the pollution. We are all in this together, we all are a part of the problem. And we all need to be a part of the solution as well,” concludes Bhumi.<br /><br /><br /><em>Disclaimer: The opinions expressed are of the interviewee and do not necessarily reflect the views of Business Insider India. The excerpts has been partly edited for length and clarity.</em><br />

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