Innovation at the Intersection
How the Art Market is greening itself while continuing its global outlook.
How the Art Market is greening itself while continuing its global outlook.
The global market is navigating tough terrain. Significant instability over trade tariffs, a cooling market that showed little signs of improving in New York’s recent marquee sales, join mounting regulatory requirements, are converging to threaten, even the best made, plans.
Yet, despite this volatility, global businesses in the trade look to be actively innovating and committing to environmental responsibility. Sustainability is no longer a buzzword; it’s fast becoming a genuine strategic priority.
In a market reliant upon sending artworks and personnel across the globe, the need to shift toward measurable emissions reduction has been well voiced. The Gallery Climate Coalition (GCC), founded in 2020, emerged as a voice for change, even throughout a global pandemic which momentarily offered hope of a new way of working for the sector- a way involving more zoom calls and less country-hopping. While that optimism was short lived and activity across countries swiftly rebounded to pre-pandemic levels, the push for systemic change had gained traction.
Collectors too are demonstrating a shift in priorities. By 2022, the Art Basel and UBS Survey of Global Collecting was already reporting that carbon footprint was one of the top concerns for collectors, with many ‘willing to pay a premium for more sustainable options’ and increasing data on new generations entering the art market highlighting increased concern for the environment when choosing what to buy, from where and from whom.
So, what’s actually changing?
Art logistic firms are certainly making headway. Reusable, sustainably sourced shipping crates are gaining ground, alongside a growing preference for consolidated shipments and lower-emission methods, namely sea freight.
Art fairs are also taking note. Over 40 major fairs signed up to the GCC’s emissions reduction pledge, committing to a 50% reduction by 2030. LED lighting, recycling carpets and the advanced use of biofuels are all in the mix. Peripheral industries are innovating. Marsh’s Specie Balance Fine Art Facility, for example, is now incentivising clients with strong sustainability credentials, offering benefits for greener practices.
Regulations around climate change, including the European Sustainability Reporting Directive, shipping decarbonisation regulations and carbon taxes, will directly or indirectly impact the trade’s development but confidence in how these will be translated to daily operations will likely need a boost.
Another major source of innovation has come through digital transformation; a hangover from the pandemic, which has proved more long-lasting than reduced travel. Virtual viewing rooms, augmented reality previews, and online auctions are now permanent features of the market, enabling galleries to engage collectors globally without racking up the environmental toll.
At the same time, back-end innovations including blockchain-based provenance tracking, online platforms (including Arcarta’s due diligence solutions) and automated valuation platforms gaining traction as a means to enhance trust and transparency across borders.
Sustainable investments - including solar infrastructure, greener packaging, and smarter logistics-must demonstrate long-term returns to gain broad adoption. As political and economic headwinds intensify, the industry's next chapter hinges on scalable solutions that cut both emissions and costs - those who lead on both fronts are likely to be those defining the future of the market.
To ensure you are meeting your obligations and keeping sales moving, use Arcarta. Book your complimentary consultation today.
Arcarta is a Due Diligence platform for the art market and is used by over 400 Art businesses internationally.
To learn more or get in touch please use the Contact page.