The drawing room

One of the grandest residences in London has been created out of the former head offices of a British institution. Samantha Welsh takes a look around and imagines a future inspired by the past

You stroll along your 30 metre long, south facing terrace balcony, lined with Ionic columns. Your view extends from the House of Lords to your left, the River Thames in the middle, M15 and Lambeth Palace, the London residence of the Archbishop of Canterbury, across to the right. Directly below spread the waterside gardens of the Palace of Westminster. You sit back and enjoy a glass of champagne and look forward to the grand reception gala you are going to host ‘at home’ next weekend.

Views from the terrace at night

Your home is in the heart of Westminster, London, but it is not created from a dusty terraced house with a view just across the street, and nor is it a unit in a shiny new glass building. Your London base is the former headquarters of Imperial Chemical Industries, the largest manufacturer in UK at the time when Britain had an empire, and the Residence comprises its board room, executive offices and more.

Follow LUX on Instagram: luxthemagazine

Grandeur and power ooze from every centimetre – or should that be every inch – of the 5.5 metre ceilinged, 970 square metre, 4-bedroom 5-bathroom penthouse atop this trophy building, whose colonnaded terrace offers a view of every ship passing down the Thames.

The kitchen

The heritage features of this Grade II listed building have been restored while enhancing volume and light through a palette of contemporary greens and blues. Architect-designers Goddard Littlefair conserved door frames, panelling, plastering, introduced flooring in oak parquet, black and white marble tiling, bespoked light installations, carpeting, rugs, velvet and silk furnishings, and sourced objets.

A bedroom

The double height reception salon, with its grand piano, feels as if it should have David Niven and Cary Grant singing a duet – what a marvellous thought – while Ava Gardner and the young Joan Collins dance tipsily with their coupes de champagne.

Read more: A tasting of Bond, California’s new luxury wine

A secret directors’ bar and games room was discovered under the eaves and reimagined as an inner sanctum, while a subterranean suite of services includes 24/7 golden key-style concierge, gym and fitness, the GL-designed lap pool, spa, cinema, and parking.

The dining room

LUX held a soirée here, celebrating the work of renowned British artist Petroc Sesti, who exhibited at the Royal Academy summer show this year. His work was on display in The Conrad. Our guests didn’t want to leave. And if you don’t want to leave, you don’t have to: the entire site will be delivered in 2023, The Conrad being the only residence that is completed and ready for occupation, fixtures and furnishings optional.

Residences starting from £18 million

Find out more: 9millbank.com

Can we put a price tag on nature? Valuing the carbon services of plants and animals is essential to bridging the gap between finance and conservation, says Professor Connel Fullenkamp, the leading academic working at the intersection of science and economics. Here, Fullenkamp speaks to LUX about the importance of engaging capital markets in biodiversity financing, and why necessity is the mother of invention

Professor Connel Fullenkamp

LUX: You have spoken profoundly about the value of natural assets.
CF: We’re bringing economics, finance, and business into an area where it really hasn’t been brought in before. We start with the approach that says these natural assets have a lot of value, but we don’t necessarily know how to put a price tag on that value. So, we start only with the things that we can find a market price for. This is because we want to speak the same language as investors and policymakers who have to keep their eye on the bottom line all the time.

When we go out and try to put a value on a natural asset, be it an elephant or a mangrove forest, we’re really thinking about this as trying to attach the lowest, believable value. We’re trying to convince people that the value is way more than that. That has got a lot of people’s attention, because it acquaints them with the tremendous value that resides in many natural assets.

LUX: Can there be a system that’s devised for transferring payments? For example, if a company destroys a coastal mangrove plantation, who does it pay for that lost value?
CF: Part of the desire behind this is to prevent the destruction from happening in the first place. But we’re living in a world in which we already have those kinds of swaps going on. So, what we’re trying to do is put an adequate value on that. We are also trying to create the impression that the contributions to things like biodiversity are worth even more. In many cases, of course, it’s the government that owns these assets, so we have to inform them what they are worth.

Follow LUX on Instagram: luxthemagazine

For example, we were approached by the UK Environment Agency to help them value their salt marshes, given that they have diminished by 90% in the last century or so. If we can put a price tag on these things, we can help governments make the argument that, firstly, you shouldn’t destroy these things in the first place, and secondly, if you do harm these assets, there’s going to be a steep price to pay.

LUX: How hard is it to find a valuation when there are so many different factors? For example, with a salt marsh, you have to incorporate the carbon storage or the flood protection, and then the ecosystem’s biodiversity.
CF: It’s difficult to put a total valuation on most of these natural assets because it has proven to be difficult to value something like the contribution to biodiversity. It’s hard to even define what biodiversity is. Biodiversity in a desert is very different to that 1,000 or more kilometres south in rainforests.

LUX: What opportunities are there in terms of constructing a financial pathway for investors?
CF: This is something we’re very keen to create. Ideally, we’d have investors who are interested in investing in natural capital services, such as carbon sequestration, because there’s a fairly well-established market for it. These investors would like to purchase either carbon offsets or have other reasons for wanting to hold carbon credits. They would pay for certificates that would deliver the carbon credits, and then the proceeds would function like a sovereign wealth fund.

Read more: Professor Nathalie Seddon On Biodiversity And Climate Resilience

Hopefully, the main use of that money would be, of course, to establish conservation restoration programmes. This is a long pathway between the financial markets all the way to the people on the ground doing conservation restoration. But unless we create that pathway, I think we’re missing out on a huge opportunity.

LUX: Which opportunities should investors be looking towards, in terms of creating the new financial system to support this?
CF: There are two things that should create excitement. They’d be investing on the idea that these are natural resources will continue to deliver these different environmental services, like carbon sequestration. We’re betting on the recovery of those things. Also, they’re betting on the plus in which carbon will help us understand what the biodiversity benefits are, that can also then be priced. If we get good at establishing these carbon markets, we kind of wrap in these biodiversity services as a plus.

LUX: What are the main hurdles to be overcome?
CF: Governments are very reluctant to think about selling their natural assets to the private sector. And so, our first hurdle is to convince them that, no, you’re not selling the assets. We’re trying to get you to sell the services of the natural assets; in fact, governments need to retain ownership of these assets.

We have to establish a conduit that will help governments protect these assets so that they can continue to generate services and support: mainly the beauty and culture of their countries. Governments are naturally reluctant because this is a brand new thing that they’ve never seen before. The markets are sceptical for similar reasons, and because there are some less-savoury actors out there who’ve already been trying and failing with certain initiatives.

Also, there is, especially in the case of wild animals, scientific uncertainty. So many of these species are facing near extinction across the board. We don’t have time. We need people to say, okay, the science is good enough. We’re willing to believe in it and bet on it.

LUX: Are these outcomes possible?
CF: I’m optimistic. The reaction we get when we talk to people has been overwhelmingly positive. When you get the capital markets involved, you can unleash a tremendous amount of financing that can do a lot of good, hopefully for conservation and restoration.

It is hard to imagine being able to cover that biodiversity financing gap without the participation of the financial markets. So, one of the things that drives my optimism is the fact that necessity is the mother of invention. For addressing climate change, this is one of our best chances. The trick is to put everybody together and get them to work together toward this common goal.

LUX: Will there be developments in attaching more specific prices, in terms of the science around biodiversity and nature-based capital?
CF: Absolutely. I think there’s a lot of excitement in that research. In particular, for example, one of the leading seagrass researchers is very excited about our work and is writing a paper for us. Seagrass is again one of these unsung heroes of blue carbon that sequesters a tremendous amount of carbon. We still don’t know what the full extent of seagrass coverage is anywhere, because nobody’s really had the money or the gumption to go look for it. So just finding out where the seagrass is, how much it covered it can sequester and where it can be restored: those kinds of issues are the type of research that we see coming out of this in the short term.

LUX: Are there accessible ways of investing in natural capital in the way that you’ve outlined?
CF: What we’ve got in mind is a bit different from, say, the sustainability linked bonds or green bonds that we see out there. There again, I think these are they’re all great and part of the solution here. But really, when you’re investing in something like a sustainability linked or a green bond, you’re basically a bond investor. You’re hoping that the money gets put to a certain type of a purpose. And in some cases, you’re going to get some either yield pick up or yield penalty depending on the performance. But really, you’re not making a direct investment, so to speak, or a direct bet on the actual natural capital itself. You’re really not investing in environmental services. That’s to me, in my mind, that’s a really big difference here, that what we’re what we have in mind and what we’re trying to create is really an asset backed market. And the asset that is being used to back the market is the natural capital services.

Read more: Dimitri Zenghelis on Investing in the Green Transition

LUX: In an optimistic scenario, how do you see this looking in 10 years’ time with the landscape?
CF: This will be just another asset class that people have available to them to invest in and it will have certain properties. Hopefully it will be sufficiently uncorrelated with other types of market returns to make it attractive as a diversification tool, if not for its own sake, and what it represents in terms of investment in the environment. So ideally, that’s what we’d see people would say. Well, I’ve got some of my portfolio in stocks and bonds, real estate alternatives. And one of the alternatives is going to be these natural capital assets.

Connel Fullenkamp is Professor of the Practice and Director of Undergraduate Studies in the Department of Economics at Duke University 

Find out more: duke.edu

The Picture, 2002, by Shishir Bhattacharjee. This painting was sent to the exhibition by the Durjoy Bangladesh Foundation following collection from the artist

For one of the first times in history, the Sharjah Art Foundation has opened a major exhibition displaying pop culture modern and contemporary art from South Asia, titled Pop South Asia: Artistic Explorations in the Popular. Using humour, the works display the difficult issues that individuals and societies face on a daily basis

The exhibition, organised by Sharjah Art Foundation in collaboration with Kiran Nadar Museum of Art (KNMA) has brought together 40 intergenerational artists from Afghanistan, Bangladesh, India, Nepal, Pakistan and the diaspora, creating a show with over 100 artworks.

Could have been the story of a Hero, 1987, by Shishir Bhattacharjee. This painting was loaned by the Durjoy Bangladesh Foundation collection

Whilst there is a wide range of the style of art being spotlighted in the show, from  print, cinematic and digital media to more traditional crafts and folk culture, all the artists, have a common theme running through their works: local capitalism. The works are accompanied by comments on identity, politics and borders.

In the Time of Pregnancy, 1990, by Dhali Al-Mamoon. This painting was sent to the exhibition by the Durjoy Bangladesh Foundation following collection from the artist

Curated by Iftikhar Dadi, artist and John H. Burris, Professor at Cornell University and Roobina Karode, Director and Chief Curator of the KNMA, Pop South Asia: Artistic Explorations in the Popular highlights the results of capitalism and media continuing to modernise and urbanise, not only in South Asia but on an international scale.

The show will be on display at Al Mureijah Art Spaces in Sharjah until 11th December 2022 after which it will be moved to the KNMA

This article was published in association with the Durjoy Bangladesh Foundation

Portrait photograph by Melanie Dunea

Marina Abramović has been tortured and almost killed, by her own audiences, for the sake of her art. She has also redefined the genre and democratised it. The world’s most celebrated performance artist, whose works span five decades, speaks to Darius Sanai ahead of a major retrospective at London’s Royal Academy

In The Marina Abramović Method, a board game-style card set recently issued by the world’s most celebrated performance artist, you are told to spend an hour writing your first name, without pen leaving paper; walk backwards with a mirror for up to three hours; open and close a door repeatedly for three hours; and explore a space, blindfolded and wearing noise-cancelling headphones, for an hour. Some of the instructions, given on large, Monopoly-style cards, are more onerous: swim in a freezing body of water; move in slow motion for two hours. But none of them come anywhere close to asking users to inflict on themselves the suffering and danger Abramović has put herself under over five decades of pushing the boundaries of art.

As she explains below, the Method was intended to take its users away from their phones, and put people in contact with themselves, inspired by her own journey, over 50 years, to understand her own body and mind. Purchasers of the card set can be grateful that Abramović does not suggest they train to become her. The New York-based artist has been lacerated, tortured, cut, stabbed, asphyxiated, rendered unconscious, and more, in the name of her art. She first came to public consciousness in the 1970s with performances like ‘Rhythm0’, in Naples, when she stood in a studio for six hours, provided the audience with implements including a scalpel, scissors, a whip and a loaded gun, absolved them of responsibility, and told them to do what they wished. She did not flinch as she was assaulted, cut, and manipulated.

Marina Abramović in a scene from her performance ‘7 Deaths of Maria Callas’, in 2019

Other performances in the same era saw her render herself unconscious; in 1997 she spent four days scrubbing bloody, rotten cow bones in a performance of protest against the war in former Yugoslavia. Possibly her most celebrated performance, ‘The Artist is Present’, which remains the most significant performance artwork in the history of New York’s MoMA, she spent a total of 736 hours sitting static in the museum’s atrium while visitors lined up to take it in turns to sit opposite her (among those who did: Lou Reed, Björk and James Franco).

So, what would Marina Abramović the person, rather than the silent artist, be like? Catching up with her ahead of a major exhibition spanning her life’s work at London’s Royal Academy of Arts (dates to be announced), I was prepared to interact with someone as brutal and scarred as she has a right to be, but was surprised to find a pleasant, highly articulate, methodical, thoughtful, quick-witted and humble interlocutor. Her thoughts on cancel culture and the effects of social media on creativity are as sharp as the scalpels she once offered the public to cut her with. Her answers are art in themselves.

Follow LUX on Instagram: luxthemagazine

LUX: I have been playing around with The Marina Abramović Method: Instruction Cards to Reboot your Life.
Marina Abramović: The Abramović method came from my long search for how to train myself as a performance artist to be able to really understand my body and mind. For that, I went to different cultures, I went to deserts, to Tibet, to shamans – lots of places to work in different retreats and to try different techniques. This is really dedicated not so much to artists or performance artists, but to everybody. Everyone – farmers, soldiers, politicians, factory workers, young children – can do this method. The exercises are very simple, which I think is beneficial, and it puts you in contact with yourself. I also liked the idea of creating cards, so they’re playful. You have that playfulness, like in a game: you close your eyes and pick a card up and do the method. This exercise is my effort to go back to simplicity, away from technology and video games, away from all this presumption that takes you away from your own intuition.

Marina Abramović cutting crystals whilst exploring Brazil in 1992

LUX: Your performance over the years has involved a lot of danger, personal suffering, and challenges to yourself.
Marina Abramović: In my cards, there is no suffering, no bleeding, none of this stuff. I am not responsible for anyone else, only myself. To me, one of the biggest human fears is the fear of pain. It’s interesting to me that if I stage painful experiences in front of an audience, when I go through this experience to get rid of the fear of pain, and I show that it’s possible, I can be inspirational for anybody else. It doesn’t mean people have to cut themselves or do dangerous stuff, but to understand at the same time that pain does not have to be an obstacle. You have to understand what it is and how to deal with it in your own life. If you look at rituals in different cultures, every initiation conquers the moment of pain, and it really strengthens the body and mind. If you’re afraid of something, don’t sit there and do nothing about it, go through it and have this experience. That is the only way you can be transformed, getting out of your comfort zone.

LUX: Are you trying to change the audience through your performances?
Marina Abramović: The only way that I can get all this attention and understand what I’m doing is to show courage and ability at the same time – that I’m vulnerable, but I also have the guts to do it. Two things. An artist should be inspirational to other people. They have to have a message, to ask questions, not always to have an answer. The pain, the suffering, the fear of dying: these are all elements not just of contemporary and classic art, but the history of humanity.

LUX: Were you always very brave as a child?
Marina Abramović: I was. It was not an easy childhood, to start with. I had a very strict, military upbringing. I was also very sick as a child. I suffered from a condition that caused long durational bleeding, a bit like haemophilia but different, so if I had a tooth taken out, for example, I would have to be in bed for three months sleeping so as not to choke from the blood, because it wouldn’t stop. I had lots of obstacles. Being raised under Communism contributed as well – Communism is all about being a warrior, not caring about your personal life, and sacrificing your life for something. When I came to the West, everybody looked so spoilt to me.

Marina Abramović in a scene from her performance ‘7 Deaths of Maria Callas’, in 2019

LUX: Does it affect the depth of what modern Western artists can create if they haven’t suffered or seen difficulty?
Marina Abramović: The young generation has a whole different set of problems than I had. Their problem is a feeling of being kind of lost and melancholy, of apathy and a lack of belief. You can’t generalise, and of course there will always be one Mozart in every generation, someone who starts creating art at the age of seven. But the others have a lethargic way of life. Everything is available to them. They don’t need to fight for anything. Computer, video games, ice cream: whatever they want, they have it. When I was growing up, I was allowed ice cream once a month if I was good, and mostly I was not. All of this is different. So, I always see them as spoilt, but at the same time it doesn’t come from them, but rather their parents. It’s complicated. I think it’s important now, the idea of the Forest School learning model. They have it in England. Kids can come to the forest and make their own fires, to find food, to learn simple survival techniques. I think it’s a way of going back to simplicity. Simplicity is the way to survive.

Read more: Sophie Neuendorf’s Inside Guide To The Venice Biennale

LUX: Before, in the 1980s and 1990s, people were either creators and artists or they were audience. Now, everyone is a creator. Does that devalue real art?
Marina Abramović: Some years ago, I was invited to go to Silicon Valley to talk to tech people about art, and to my incredible surprise, I found out that they seriously believed that Instagram is art. That was so surprising to me. Instagram is, to me, a very personal way of seeing the world and sharing it with other people. It’s a tool for communication. It’s so far away from art. Art is so different. Also, now, with NFTs and all this new technology, all anyone is talking about is how much it costs and the amount of money that can be made. It has quickly become a commodity. But I really don’t see content, real profound ideas that can move me and bring me emotions, and I think that’s what art is about. [Digital media] unifies people and breaks the borders between countries and individuals, but this is not art. I’m sorry, but it’s not art.

LUX: Has there been a fundamental change in art since the 1970s or 1980s?
Marina Abramović: It is so different. The needs of society are different. In the 1970s, there was so much experimentation. There was incredible freedom in the art scene. Now, we are facing political correctness and diminished creativity in so many ways. So much art that we were doing in the 1970s would never be possible now, because it would be so scrutinised and criticised that galleries and museums would not show it. This is something that, unfortunately, does not help creativity right now.

Portrait photograph by Melanie Dunea

LUX: Are people stopping themselves from creating because of political correctness?
Marina Abramović: The true artist does not care about this shit. They don’t care. They will always find a way to do things, if not publicly then it could be underground. Historically, that has always happened. Artists cannot stop creating. It’s an urge, like breathing. You can’t question it. You wake up with ideas and have to realise them. This is your oxygen.

LUX: Do you think the West – what we used to call the ‘free world’ – is going to have a movement of underground artists because they can’t express themselves publicly?
Marina Abramović: I really think so, yes.

LUX: You are taking over the Royal Academy in London. What will we see there?
Marina Abramović: The Royal Academy is, for me, a very big obligation – an honour. I care so much about this show right now, because it’s showing what makes my 50-year career. There will be some really important major artworks from each part of my career of 50 years, but also there will be a big amount of new work, which nobody will have ever seen before. There will be a reperformance element, with young artists reperforming my early works, which I introduced some years ago. Some of my contemporaries say a performance cannot be reperformed – I disagree. And then I am also preparing my new work, which I can’t talk about because I’m superstitious, but I’m definitely doing a personal performance. The show is called ‘Afterlife’. I like this very ironical title, because I’m still alive. I have waited a longtime for this show, because it was supposed to be in 2020 but then Covid came, so it was postponed for three years. You know, at my age, three years is a long time, so I’m really looking forward to the fact that finally it will happen.

Marina Abramović in a cave whilst exploring Brazil in 1992

LUX: If you had been brought up now, in America, compared to when you were brought up in what was then Yugoslavia, would you still be the same artist?
Marina Abramović: I don’t know. I was very happy where I was brought up. At that time, I read all the books that Americans don’t. Not all of them, of course, but generally Americans don’t read. I was very happy with my education. It was so intense. Full of poetry and art and everything.

LUX: Do you still put yourself in as much danger and physical stress as 20 years ago?
Marina Abramović: I have to say, ‘The Artist is Present’ was a hell of a performance and I was 65, my dear. I could never do this when I was 20, or 30. I didn’t have the willpower, wisdom and determination. There was no way. I needed time in order to have the strength. You get strength when you get older and not younger.

Read more: LUX Art Diary: Exhibitions to see in May

LUX: Do you fear getting older?
Marina Abramović: Not so much now – sometimes, when I wake up on a rainy day with pain in my ankles and shoulders, but not generally.

LUX: Do you fear anything?
Marina Abramović: Of course, I fear. Everyone fears things. I have a childhood fear, that if I go to the deep sea, a shark will come and eat me. Even if I go to the ocean and they tell me there aren’t sharks there, I know that the shark knows I’m there and is going to come for me. But that is an old fear from childhood. Like everybody else, when I go on a plane and there is turbulence, I’m immediately writing my testament. I fear. But I think it’s natural, it’s living, you’re living, you’re alive. You’re not immune to fear. Nobody is.

This article appears in the Summer 2022 issue of LUX

The latest Porsche Panamera, a comfortable, high-performance SUV, is less lumbering than other fast SUVs and provides genuine driver satisfaction

In the fourth part of our supercar review series, LUX gets behind the wheel of the Porsche Panamera 4S E-Hybrid

Mitteleuropa (middle Europe) is a semi-mythical territory that has always fascinated us. It is, decisively not the same as central Europe, the web of countries to the east of Switzerland and to the west of Romania. Its German name suggests it incorporates a part of Germany, but it cannot include the brisk North Sea coast or the Hanseatic ports, which belong to the Baltic. And we felt we were entering Mitteleuropa when a sign on the motorway in eastern France (that’s right, France) declared that we were in Lorraine. The signs on the motorway exit boards changed tone, as did the scenery. The place names became Germanic, and the flat fields of the Champagne region gave way to forested hills and ridges.

Follow LUX on Instagram: luxthemagazine

Here, the Porsche Panamera felt in its element, as it headed back to its homeland. The straight-line motorway that had been a feature of the route to date turned into long, beautifully engineered curves, taken at high speed in this long wheelbase, semi-electric, large sports sedan. It was enormously satisfying, with subtle growls from the V8 engine upfront and the steeliness of the car’s sporting suspension making you feel like a pilot more than a chauffeur.

This is the aim of the Panamera: a comfortable, high-performance vehicle intended to be genuinely satisfying for the driver, without the compromises of a high-sided SUV. As we drove past one mini mountain, the clouds burst open in a Götterdämmerung of rain, which rapidly flooded the road. The four-wheel-drive of the Panamera felt as if it was vacuuming up the water and spitting it out the back, wanting still to go faster, as if on a wet race track, when it would have been irresponsible to do so.

We spent the night in Phalsbourg, eating at a French restaurant on a terrace on its wide central square while being served beer brewed in the Black Forest, in neighbouring Germany, by staff who spoke French and German, as if the two territories were one.

Between Phalsbourg and the Black Forest lie the Vosges mountains. The roads here were narrow, tight, still damp and the car clung to them through the gears, the electric and petrol engines working in unison to propel us forward. The Panamera is not a sports car by any traditional definition, it is too wide, too heavy. But if you’re used to driving a fast SUV and hanker after something less lumbering, while still having a lot of space, this is for you.

Read More: Style And Substance: Bentley Bentayga Hybrid

In the Black Forest the autobahn between Stuttgart and Lake Constance has no speed limit in many places, and its trail snakes through the mountains. At normal speed, the curves are gentle, barely noticeable, and you have the ability to admire villages pinned into the surrounding woods. But when you go much faster, on an empty road, each corner feels like a racetrack, and the car on its limit is muscular, secure, reassuring but sharp, made to maximise its capabilities on these roads not so far from its birth town of Stuttgart. At 160mph (257km/h), there is no time to admire the scenery.
We finished the day with a glass of the same local beer offered to us hundreds of miles away in Phalsbourg, while sitting in a little café on Lake Constance, Switzerland, a series of green bumps across the lake in front of us, Austria a couple of grey spikes in the distance to the left. Middle Europe, and the ideal car to conquer it.

LUX Rating: 18/20

Find out more: porsche.com

Attribution science explores the link between climate and extreme weather

Flooding in South Africa, wildfires in California, heatwaves in India: each new extreme weather event seems the inevitable conclusion of ecological breakdown. But how exactly are climate and weather linked? Leading attribution scientist Dr Friederike Otto explains to LUX why we need to nuance our understanding of climate change

Dr Otto is co-lead of World Weather Attribution, an international organisation analysing the possible influence of climate change on extreme weather events. Named one of TIME’s 100 Most Influential People in 2021, Otto has identified an information gap in the public’s understanding of climate, which, she argues, is hindering the creation of reliable and resilient systems in the face of extreme weather. She tells LUX why everything depends on the decisions we make in the next decade

LUX: How sophisticated is the public’s understanding of what effect climate change is having on weather?

Friederike Otto: There is still quite a big lack of understanding about how climate change affects weather. There are lots of people who assume that everything bad that is happening now in the world and in the weather is because of climate change. That is a misconception. There is a huge difference between how climate change affects heatwaves versus how it affects extreme rainfall or droughts, and that is something we need to get much better in communicating.

LUX: So, how are climate and weather linked?

FO: Climate change can affect the weather in two ways. One is the thermodynamic effect: we have more greenhouse gases in the atmosphere, so the atmosphere gets warmer overall. This means that there is a higher likelihood of heatwaves which are hotter, and a lower likelihood of cold waves, which are warmer than what they would have been. Likewise, because a warmer atmosphere can hold more water vapour that needs to get out of the atmosphere as rain, you have an increase in heavy rainfall.

If that was the only effect, we wouldn’t need to do attribution studies. The second effect is weather, because we have changed the atmosphere’s composition and temperature differences. This second effect can go in the same direction as the warming effect – but the effects can also counteract each other. If you don’t get any weather systems that bring rain, it won’t rain. So here we need attribution studies.

Otto explains the need for reliable and resilient systems in place to respond to extreme weather

LUX: What do you say to those who think ‘what’s the big deal?’ about the atmosphere getting one degree warmer?

FO: One degree in a heatwave is thousands of people dead or alive. People have pointed out that one degree is lower than the global mean temperature change and that is true. But the year-to-year variation in weather and in temperatures is quite small. If you had one degree added to a heatwave in Antarctica, it would indeed be much less of a big deal, because there is a huge variability in temperatures.

Follow LUX on Instagram: luxthemagazine

The heatwave in India is, in today’s climate, a one in 100-year event. With this, you can look at the intensity change: how frequent would this event have been in a world without climate change? What is now a one in a hundred year event used to be a one in 3000 year event without climate change. In other words: a one degree change in intensity corresponds to a 30 times increase in the likelihood.

LUX: So the differences, though seemingly marginal to the casual onlooker, can radically change the climate system?

FO: The climate system will be fine, it will just get hotter. But people and ecosystems have adapted over centuries to a certain type of climate. All of our ecosystems and social systems are very much designed for this narrow range of possible weather that we used to get, so, if you push that back even a little bit, it is much harder to deal with.

Climate change has increased dramatically over the last two decades

LUX: What has allowed the field of attributional climate science to thrive in recent years?

FO: Firstly, we are now able to run climate models so that you can actually look at extreme events. Before, you would run a climate model maybe once or twice — and this only gives you one possible realisation of climate and weather. It wouldn’t allow you to look at extreme events.

The second thing is that climate change has increased dramatically over the last couple decades. We see the trends and changes even in weather observations, so we can detect changes without having even touched a climate model. People have really started to develop and design methodologies to use new data and tools to answer these questions.

LUX: How do day-to-day meteorologists react to your discipline, which is still emerging?

FO: Grumblingly, I think – at least at first, because there have been huge divides between meteorologists who have dealt with day-to-day weather forecasts and those working on climate change. Attribution ultimately forces the two together.

Read more: Professor Nathalie Seddon On Biodiversity And Climate Resilience

Attribution has led to a huge recognition now that it is necessary to make meteorology more relevant for the world we live in. Meteorologists have, for a long time, been extremely conservative when it comes to climate science.

LUX: With the rise of quantum computing, do you think there is the possibility that meteorology will also revolutionise?

FO: A lot of new science could be unlocked through that in meteorology. We would have a lot more higher resolution models to look at what is still not very well understood, for example, cloud interaction with aerosols (and so on). It will not mean that we suddenly have an uncertainty-free science. It’s something that people still have a hard time to live with — that there will always be uncertainty when you do scientific studies, and that this is actually nothing special in climate science.

Otto emphasises the need for greater collaboration between scientific disciplines

LUX: Do you think that there is the possibility of more joined-up thinking between climate science, sustainability, science, biodiversity science?

FO: You can’t try and solve one in isolation from the other. It’s still not easy to do that, because most of us are still trained in a very disciplinary way and we speak very different languages, but the upcoming generations of scientists and researchers are better trained in more interdisciplinary research and increasingly funding is being allocated to interdisciplinary research. So it’s happening, but slowly.

LUX: Is there a tendency for governments to use climate change as a scapegoat to avoid accountability?

FO: Definitely. That’s why it’s important to nuance our climate change understanding. With heatwaves, what used to be a 100 year event is now really just ordinary summer in many places. But for many other extremes, the changes are relatively small. For droughts, there are many parts of the world where they are not yet changing because of climate change.

Read more: Melissa Garvey On Saving The Oceans

The drought in Madagascar is a good example: that has led to quite a lot of food insecurity for the population. That was a rare event, and the population was vulnerable, helped only by NGOs. But these NGOs have always come in when there’s a crisis and then gone away again. There has never been a reliable or resilient system to respond to extreme weather. That is a big problem. There is also an element of colonialism, so it’s not something that the global north can completely wash their hands of. But even if we were to immediately stop greenhouse gas emissions, that wouldn’t solve the problem that southern Madagascar has with respect to drought.

Attribution science has led to a huge recognition that it is necessary to make meteorology more relevant for the world we live in

LUX: Personally, do you feel worried about where things are going?

FO: I’m not worried per se; I’m more frustrated. I feel immensely privileged for who I am, that I’m able to live in a world now where I am able to do whatever I want and be whoever I want. Climate change is one result of this societal system that only benefits a few, but it’s not the only one.

LUX: Do you think it’s your role to point out what is happening and let others judge what to do?

FO: It’s my role as a scientist to say ‘this’ is happening because of ‘that’. It’s my role as a human being to say that it is affecting people who are least responsible for the causes. To pretend that climate scientists are not humans: it’s just not useful.

LUX: What will the world and the weather look like in a hundred years?

FO: Everything depends very strongly on the decisions we make in the next decade. Weather changes are very fast with emissions. We still absolutely have the power in our hands to shape the future we want to live in.

Dr Friederike Otto is a Senior Lecturer in Climate Science at the Grantham Institute for Climate Change at Imperial College London, and Co-Lead of World Weather Attribution (WWA)

Find out more: worldweatherattribution.org

One of Australia’s most well-known photographer’s Sean Scott is best known for his underwater, sea-life and ocean photography. Here he tells LUX about his draw to the oceans and his new collection of work, titled FLOW. The images are an abstract collection of photographs that showcase Scott’s fascination with water and the movement of water.

1. What initially drew you to ocean photography?

I have always loved sharing and showing people things and found photography the best way to do this. As a kid I would sit out in the surf when the sun was setting and be amazed at how beautiful it all looked. I wanted to share that with people who didn’t get out into the water.

Follow LUX on Instagram: luxthemagazine

As the saying goes.  “Only a surfer knows the feeling”. I wanted to share that with people and photography has been the perfect tool to achieve this.

2. What message do you think this new style of photography that you have done in this body of work sends in comparison to your more traditional photography style?

3. What’s your favourite time of day to be out with your camera and why?

I love being out at first and last light.  I love to shoot contrast and this is the best time of the day to capture the incredible colours and patterns of mother nature.

4. Do you think AI art, such as MidJourney, can be as valuable as traditional art or photography produced by humans?

5. Where in the world has surprised you the most with its scenery?

6. How, if at all, has your photography changed over the years?

EY’s Global Vice Chair on Sustainability, Steve Varley, speaks to LUX’s Leaders and Philanthropists Editor, Samantha Welsh, about EY’s approach to sustainable investing, the future of sustainability and the steps that need to be taken to fight the climate crisis

LUX: What do you consider to be the principal drivers behind the EY approach to sustainable investment?
Steve Varley: Sustainability is right at the top of the agenda at EY. We announced in October last year that EY has become carbon negative, which means we have reached our target to reduce our absolute emissions, and then offset or remove more than the remaining amount of our emissions, every year. It’s a crucial step forward in our sustainability journey and a key milestone as we work towards reaching net zero in 2025.

Follow LUX on Instagram: luxthemagazine

Steve Varley

EY people share our commitment to the environment and to driving long-term, sustainable growth. We want to not only transform EY to become more sustainable, but also help EY clients do the same. This means reframing how business approaches sustainability and putting it right at the centre of how value is created and protected.

Creating a sustainable future requires all of us to be at the table. It demands involvement across borders, services, and teams, across all business functions. It requires alliances between governments, enterprises, and industries. As we like to say: It’s everybody’s business.

LUX: How does a sustainable approach foster growth and add value?
SV: EY clients are increasingly seeking ways to drive value from sustainability. Our Value-Led Sustainability approach focuses on helping clients capitalise on the commercial opportunities presented by sustainability and decarbonisation, but it is motivated by much more than just financial gain. It is central to how we will safeguard and generate new sources of value for everyone on the planet – our people, the society we serve, and the world in which we live.

This means leading a wide range of projects, from helping consumer goods companies drive more growth by developing new business models for greener products to collaborating with financial institutions to calculate carbon emissions from the companies they finance, and from this develop new financing solutions to help these companies decarbonise. We want to keep building on this kind of work and continue to develop services that help our clients find value in becoming more sustainable.

LUX: What is the role of the next generation/Gen Z – what are they looking for when it comes to ESG?
SV: The next generation is driven by purpose and expects more from ESG. This is hardly surprising given that both generations Y and Z have lived through a variety of systemic crises, including the 2008 global financial crisis, climate change, and the COVID-19 pandemic. While previous generations may have seen comparable crises, members of these new cohorts are more sceptical of traditional financial services than older generations and they have higher expectations of authentic and ethical behaviour from the organisations for which they work, buy from, and invest.

Gen Z is emerging as the sustainability generation. They want to work for companies that have a positive impact on society and the environment, and they want to see increased transparency and greater corporate accountability for ESG ratings. At EY, a large percentage of our workforce come from this generation, and we are really encouraged by their high standards and expectations. They are certainly holding us accountable, as well as holding clients accountable, and we are all the better for it. We need the next generation’s innovation and solutions if we are to solve the climate crisis and deliver future growth that’s truly sustainable.

LUX: Which leaders are the winning in the time of the climate crisis?
SV: Denmark, in my opinion, is a world leader in wind and solar power generation. Most of its energy is presently derived from renewable sources, with the goal of reaching 100% renewable power by 2030 and becoming carbon neutral by 2050. Similarly, the United States has a sizable venture capital ecosystem that funds renewable energy and electric vehicles, and the United Kingdom has enshrined its 2050 net zero aim in law, placing us second in the world in terms of influence.

While this is extremely encouraging, there is a ‘Green Power Gap’ that has been emerging, with only a small group of developed markets leading the way in terms of climate research, innovation, and public funding, and not enough ‘green money’ flowing to the emerging markets, where the effects of climate change are felt most acutely. EY’s Green Money Report outlines clear recommendations for action to help accelerate a green transition that is truly global and where all countries can take part. I really can’t stress the importance of this enough – the opportunity to avert climate catastrophe must be seized by everyone now, not just by a small handful of countries.

LUX: Can you tell me about the S30 forum?
SV: The S30 is part of the Sustainable Markets Initiative (SMI) led by HRH The Prince of Wales and it comprises Chief Sustainability Officers from some of the world’s most influential companies, all with the joint aim of accelerating business action on sustainability. The forum was launched in 2020 and I proudly serve as co-chair of the group, alongside the CEO of freuds, Arlo Brady.

Members have been drawn from the most influential businesses in the world covering a wide range of sectors, including consumer and industrial products, energy, financial services, life sciences and technology. At its core, the S30 is a space for members to come together, share learnings and best practices, and explore the successes and challenges they are experiencing in their roles. Most importantly, we are focused on outputs and driving collective action that will benefit not only the business community but protect the world at large.

LUX: What can public policymakers learn from business when it comes to sustainability?
SV: Governments cannot address the climate crisis alone; business must play an important role, and public-private partnerships are crucial. Businesses can help the world accomplish its climate change targets by doing three things: mobilising resources to finance the green transition, leveraging clean technology and innovation, and effectively measuring and reporting on sustainability.

In particular, the financial services sector, in collaboration with governments and regulators, can identify legislative and regulatory adjustments to facilitate financial product and service innovation, simplify rules, standardise taxonomies, and track green money flows to guarantee that transition needs are fulfilled globally.

Governments are providing much-needed policy momentum as we approach COP27, but business will play an incredibly important role in the green transition. The private sector can play an even bigger role at COP and companies across different sectors will need to continue to work hard to help achieve the world’s climate goals. In doing so, they will position themselves for green growth in the years to come.

Read more: Coming Together To Save Our Coral

LUX: How optimistic are you about the progress made at COP?
SV: I’m an optimist, but an optimist that seems to worry a lot. Sustainability has gone mainstream, and after COP26 it really does feel like everybody’s business. We are seeing a lot of CEOs now putting the planet at the heart of their business strategy and looking for ways to create value from becoming more sustainable. What is exciting to see is business applying its skills at innovation, embracing disruption and problem-solving to tackle the biggest issues we face, and doing so while creating value for their stakeholders.

The COP26 debates raised the issue of keeping companies accountable to the climate pledges they make, and the current frameworks in place not being subject to the same level of rigour as financial reporting. It was fantastic to see this topic on the agenda, and the establishment of the International Sustainability Standards Board was widely welcomed. We all know it will be a challenging road ahead, but leading organisations are already reaping the benefits of implementing clear and transparent sustainability targets into their corporate strategies.

The COP27 climate summit is fast approaching in November and it’s clear that major changes must happen quickly right across business and society. We’re ready to help lead the charge.

Find out more: ey.com

Galleria Vittorio Emanuele II mall in Milan: The city has long been a magnet for the world’s wealthy

LUX speaks with Alan Hooks, Managing Director, Head of Private Clients UK at Julius Baer, about the Swiss private bank’s 2022 report on the changing consumption and spending habits of the wealthy around the world

Alan Hooks

LUX: Are we seeing a generational change in the way high net worths (HNIs) and ultra high net worths (UHNIs) spend and invest, taking into account sustainability considerations?
Alan Hooks: Certainly we have seen that shift in approach from a next generation perspective, and that’s where the acceleration of these conversations are coming from. So when you talk about investment habits, the majority of those conversations are held with the future custodians of the wealth of the family, so we are seeing that manifesting itself quite considerably in those conversations.

When it comes to consumption habits, the report also shows that high net worths, and ultra high net worths are typically early adopters of new technology, new product design, that will have a positive impact on the environment. With that advocacy comes some responsibility because typically that early adoption will mean others will start to follow. I think that’s an important trend to observe, and we’ve seen that come out of our Global Wealth and Lifestyle Report over the last few years.

Follow LUX on Instagram: luxthemagazine

If you look at the shifting patterns of consumer spending, you’ll see a move from possessions to experience. In particular, that can be seen from the report in terms spending on health, and travel and leisure have been quite significant in the in previous years. During the pandemic were not able to freely travel as much as they would have done, but now it’s over, that is strong. We are certainly seeing from a London perspective the leisure and tourism sector is an area where discretionary spend is high.

Heston Blumenthal’s restauarnt The Fat Duck, outside London. High net worth individuals are spending more on experiences according to the report

LUX: You rank various cities in the world in terms of their cost and desirability. Any place stand out of particular interest?
AH: What’s great about the report is that we highlight cities around the world where there is still great opportunity, Sao Paulo for example, has a significant population, high degree of a younger (wealthy) demographic signifying great opportunity.

LUX: What other elements are important for HNIs and UHNIs?
AH: What recent months have shown us is the focus on security and safety and countries and cities that can offer that level of security and stability, are important. In this demographic that becomes important as a factor in terms of where people are basing themselves or may be relocating. Other considerations such as lifestyle, education and so on are also important. The cosmopolitan nature of cities around the world, certainly for international families, is important.

Expensive but exclusive adventure experiences like Sven Lindblad Expeditions gives guests the opportunity to see sites like this iceberg in Ilulissat, Greenland

LUX: Crystal ball gazing, what do you expect to see in next year’s report?
AH: I think I would expect to see trends continuing in terms of continued focus around health and well-being. I would be interested to see whether the challenges that we’ve observed in the 2022 report will remain in the future, or whether that starts to settle. For example, if we look at some of the findings on London in leisure, we see a significant demand for leisure, tourism, hotels and restaurants. We are also hearing from hoteliers and restauranteurs about the challenge around finding staff.

Read more: Chef Heston Blumenthal: The Culinary Resurrector

It will be interesting to see and hear from respondents over the next 12 months whether this trend is continuing and how things are faring as a result of things settling down after the pandemic. It will also be interesting to observe the levels of creativity we find from businesses in product design and in servicing high net worth and ultra-high net worths. What we have learned in the pandemic is that typically there has been innovation and creativity in these areas.

Find out more: juliusbaer.com