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In the face of an escalating climate crisis, scientists are exploring increasingly unconventional ideas to cool the planet. One of the more intriguing — and surprising — proposals is the use of <keyword id="23626780" type="General" weightage="100" keywordseo="diamond-dust" source="keywords">diamond dust</keyword> injected into the atmosphere to reflect sunlight and reduce global temperatures. A team of climatologists, meteorologists, and <keyword id="19912640" type="General" weightage="20" keywordseo="earth" source="keywords">Earth</keyword> scientists found that injecting synthetic diamond particles might be the most effective way to combat <keyword id="19942740" type="General" weightage="20" keywordseo="global-warming" source="keywords">global warming</keyword>.<br /><h2>Just chill, chill</h2>Global temperatures are rising rapidly, and scientists warn that we may have already reached a tipping point. Simply reducing <keyword id="19951337" type="General" weightage="20" keywordseo="carbon-emissions" source="keywords">carbon emissions</keyword> may no longer be enough. Some experts argue that we need active measures to cool the planet and prevent further catastrophic changes to global weather patterns. One potential solution? <keyword id="23626781" type="General" weightage="20" keywordseo="solar-geoengineering" source="keywords">Solar geoengineering</keyword> — a method that involves injecting <keyword id="23626782" type="General" weightage="20" keywordseo="reflective-particles" source="keywords">reflective particles</keyword>, or aerosols, into the atmosphere to bounce sunlight back into space.<br /><br />Historically, sulphur dioxide has been the leading candidate for this approach. Released naturally by volcanic eruptions, sulphur dioxide is known to have a cooling effect on the Earth by reflecting sunlight. However, the downside of injecting it artificially is significant: it could lead to acid rain, damage the ozone layer, and disrupt weather patterns.<br /><div type="Article" hostid="261" msid="114118159" title="Delhi vs. air pollution: Minister pushes for ‘artificial rains’ in city ahead of Diwali as AQI remains worse than ever" mstype="2" mssubtype="0"></div>The new study aimed to find a better alternative by modelling the impact of seven different materials: calcite, diamond, aluminium, silicon carbide, anatase, rutile, and sulphur dioxide. Their 3D <keyword id="19912529" type="General" weightage="20" keywordseo="climate-models" source="keywords">climate models</keyword> factored in light reflection, how long the particles would stay in the atmosphere, and whether they would clump together — something that could diminish their effectiveness.<br /><h2>Why diamonds?</h2>The surprising result of the research was that diamond dust emerged as the most promising candidate. Tiny synthetic diamond particles proved to be highly effective at reflecting both sunlight and heat, while also remaining suspended in the atmosphere for a sufficient period. Unlike sulphur dioxide, diamonds are chemically inert, meaning they would not react with other atmospheric elements to cause harmful side effects like acid rain.<br /><br />The models suggested that injecting 5 million tons of synthetic diamond dust into the atmosphere annually could reduce global temperatures by 1.6°C over the course of 45 years. This kind of cooling would be enough to counteract some of the most severe effects of <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">climate change</keyword> and potentially buy time for other long-term solutions.<br /><h2>The cost conundrum</h2>Despite the effectiveness of diamond dust in the simulations, the practical challenge of this approach lies in its cost. Producing and distributing the necessary amount of <keyword id="20001023" type="General" weightage="20" keywordseo="synthetic-diamonds" source="keywords">synthetic diamonds</keyword> would come with an astronomical price tag — an estimated $200 trillion. To put that into perspective, that’s roughly double the size of the global economy in 2023. While the benefits of <keyword id="23626783" type="General" weightage="20" keywordseo="cooling-the-planet" source="keywords">cooling the planet</keyword> are clear, such a high cost makes this solution far from feasible in the immediate future.<br /><div type="Article" hostid="261" msid="97766424" title="A new climate solution involves shooting moon dust into space to create a &amp;#39;solar shield&amp;#39; around Earth, but scientists say it&amp;#39;s a risky last resort" mstype="2" mssubtype="0"></div>While the diamond dust concept is still in the research phase, the study underscores the urgency of exploring all possible solutions to cool the planet. As temperatures rise and extreme weather events become more frequent, unconventional ideas like this could play a role in the global effort to mitigate climate change.<br /><br />The findings of this research have been published in <em>Geophysical Research Letters</em> and can be accessed <a href="https://dx.doi.org/10.1029/2024GL110575">here</a>.

Diamonds in the Sky: Scientists want to inject diamonds into our atmosphere to cool the planet!

Climate Change Mitigation

<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

<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.

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Diamonds in the Sky: Scientists want to inject diamonds into our atmosphere to cool the planet!

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

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