Gstaad Palace

Maarten Ten Holder, Managing Director of Bonhams Motoring, tells LUX his top picks for The Gstaad Sale in Switzerland ahead of the sale on 3rd July 2022. The sale features cars being sold up to £1,900,000

When you handle some of the world’s rarest, most exotic and most valuable collector cars, it makes sense to sell them in the most beautiful locations. Bonhams is fortunate to have salerooms at the Grand Palais in Paris, overlooking the Grand Prix circuit in Monaco and on the lawns of the world-famous Monterey Car Week. To this glittering roster, we have added the chic Alpine resort of Gstaad where we will be hosting our eponymous sale on Sunday 3 July.

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The venue for this boutique sale is the Gstaad Palace, celebrity haunt for the likes of Elizabeth Taylor, Grace Kelly, Roger Moore, and the perfect backdrop for the automotive art we will be presenting – what is more, the general manager is a classic car enthusiast, so we will be in good company!

2010 Lamborghini Reventon Roadster

Rather fittingly for our jet-set audience, our sale is led by a jet-inspired hypercar – a 2010 Lamborghini Reventon supercar (estimate CHF 1,850,000-2,200,000). This was the most extreme Lamborghini to date when unveiled in the late Noughties. Its aeronautic styling is matched by blistering performance thanks to its 6.5-litre V12 engine. It has a top speed of 205mph and accelerates from 0-100km/h in 3.4 seconds and even has a G-force meter for that ‘Top Gun’ moment. This Reventon is as new, having had only two owners, the second, the vendor, never having driven it!

1991 Ferrari F40

Lamborghini’s great rival, Ferrari, also features in this sale, with no less than six supercars and grand tourers offered. Looming in the Reventon’s rear-view mirror is a 1991 Ferrari F40 (estimate CHF 1,600,000 – 2,000,000), considered one of the last great ‘analogue’ supercars.

1972 Ferrari 365 GTB:4 ‘Daytona’ Berlinetta

Introduced to celebrate Enzo Ferrari’s 40 years as a motor manufacturer, the F40 was the last model to be personally overseen by ‘the old man’ before he died in 1988. A thinly disguised racing car, with its panels of carbon fibre and that unmistakable high rear aerofoil, the F40 was the first production passenger car to have a top speed of more than 200 mph. It’s no wonder that F40s have been owned by the great and the good from Formula 1 champions such as Nigel Mansell and Alain Prost to Il Maestro, Luciano Pavarotti.

2020 Porsche 911 GT2 RS Clubsport

Another racing-derived car is a 2020 Porsche 911 GT2 RS Clubsport, (estimate CHF 390,000 – 500,000). The high-performance version of the evergreen 911 was produced to meet the regulations for GT2 sports car racing. Th even more powerful RS version set a new lap record at the infamous Nürburgring last year.

This one-owner example has covered fewer than 300 kms and has never been raced, although it is fully-equipped for motorsport with its ‘Clubsport’ package including FIA rollcage, Recaro racing seat and racing dampers.

Read more: Switzerland, our top pick for summer

Classic models from the motoring world’s most prestigious marques, such as Aston Martin, Mercedes-Benz, Rolls-Royce and Bentley, will also be gracing the Gstaad Palace this weekend.

1969 Monteverdi 375S Coupe

However also lining up is a less familiar name: Monteverdi, a Swiss marque of the 1960s and 1970s – the brainchild of BMW dealer Peter Monteverdi. Wanting to produce a Swiss rival to Ferrari, he matched American power with European styling and luxurious interiors. Two of these rarities will be offered, including the 1969 Geneva Salon show car, a 1969 575S Coupé.

1956 Alfa Romeo 1900C Super Sprint Barchetta

And there are more Swiss-made cars. The country may be more famous for watchmaking but has had a thriving coachbuilding industry in the 20th century, Representing its golden age is a 1956 Alfa Romeo 1900C Super Sprint Barchetta (CHF 300,000 – 400,000), its Ghia Aigle coachwork designed along the lines of a Riva speedboat with wraparound windscreen. Apparently, the Ghia was ‘banished’ into storage for 30 years by its first owner’s wife when she discovered the car had been bought for his mistress.

1981 Renault 5 Turbo

My final highlight is a seemingly humbler car – a 1981 Renault 5, at one point France’s best-selling model and the first car for many. However, this special and increasingly sought-after high performance Turbo version has had only one owner from new, Catherine Larson, widow of Formula 1 driver Didier Pironi. The 5 has an estimate of CHF 130,000 – 150,000, making it one of the most valuable to be offered but surely one of the most perfect for tackling the twisting mountain roads!

The preview for the Gstaad Sale will be held at the Gstaad Palace Hotel from 1 to 3 July, with the sale from 15.00 on Sunday 1 July.

Designer Rob Ryan’s fresh take for Gaggenau’s ‘Art of the Kitchen’ series

With our increasingly urban lifestyle, biophilic design is becoming ever more urgent – in fact our happiness and wellbeing depend on it. Mark C. O’Flaherty speaks to three visionaries in the field, on why reconnection with nature not only induces calm, but is the only sustainable solution

There’s nothing new about the principles of biophilic design. As a philosophy for living, it was the status quo before the industrial revolution, and in many cultures it’s still the norm. But we have literally built walls around ourselves to create a distance from the natural world. In Japan, hinoki wood is one of the most popular materials for construction, not for its impervious and practical qualities, but for the intense aroma it gives off. To live in a room furnished in panels of hinoki is to have your olfactory senses transport you to the most fragrant wilderness. In many Nordic countries, city dwellers customarily have a rural cabin to escape to, to reconnect with nature.

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As our ecosystem continues to face what increasingly feels like insurmountable challenges, and urbanisation becomes the default, biophilic principles are growing in importance in design. Though they aren’t radical or new, we’ve lost sight of how crucial they are to our wellbeing. This isn’t about recycling, sustainability, or alternative ways to generate energy (although they are part of the greater narrative), it’s about how we can engage with nature in our homes in a way that will have benefits for our physical and mental health.

Head of Design at Gaggenau, Sven Baacke

Product designers are taking this on board luxury brands are creating functional areas, objects and spaces with emotion in mind, and an understanding of natural pathways. “Our customers may create indoor-outdoor kitchens, spaces where kitchen and living and dining are integrated and designed with a lot of natural materials, leading to a herb garden or natural wall,” says Sven Baacke, the head designer at Gaggenau. “It is tied into wellbeing, to being at one with nature, and also to sustainability: water features, green spaces, flora and plants, and the use of natural and found materials that both reduce carbon footprint, and elements like water use in manufacture. We design our products with their broader concept, and the lives and values of our customers in mind.”

Biophilia is about connections and feelings. It is the presence of living walls, pleasing aromas and good quality air. It is the marriage of colour psychology with an awareness of light, fragrances, textiles and acoustics, and has become an increasingly sophisticated discipline. It is a complex exploration of how neuroscience intersects with architecture, and when biophilic design is incorporated within urban planning as well as interiors, it treats what was once seen as just bricks and mortar as part of a living organism. It can contribute to tackling serious environmental challenges, including the Urban Heat Island effect (major cities are profoundly hotter than rural areas in summer), restoring lost natural habitats, and lowering the effects of CO2 emissions. In his hugely influential 2012 book The Shape of Green, the architect and author Lance Hosey who died last year – argues that sustainability can’t exist without beauty: “Long-term value is impossible without sensory appeal, because if design doesn’t inspire, it is destined to be discarded.” Our future can, if we let it, be shaped by what truly nourishes us as human beings.

The Biophilic Visionaries

Oliver Heath 
Director of Oliver Heath Design

Oliver Heath, the director of Oliver Heath Design

I switched to investigating a human-centred form of design about 10 years ago. I had been working in the field of sustainable residential design for years, but became frustrated because people weren’t adopting the methods, ideas and principles. They weren’t engaged. There was a fatigue around the idea of sustainability. I changed the tone of my conversation to be about creating a home that supports your physical and mental wellbeing. That resonates because everyone wants to be happier and healthier.

Design is much more than aesthetics – it’s about how you feel inside a space. Stress is endemic in our lives. We’re living in built-up urbanised spaces. By 2050, 66 per cent of the world will be urbanised. Biophilic design is a means to reconnect you with nature, and elicit a similar response to wonderful times you’ve had on beaches, in forests or on mountains. Built environments are hard-edged and geometric, and they aren’t the space you actually want to be in. Biophilic design works – it increases productivity in the workplace by 6-15 per cent, and helps you recuperate in a hospital 8.5 per cent faster. We are taking what we’ve learned from those spaces to residential projects.

A Heath-designed bed landscape for a biophilic hotel project

Instead of looking at what next year’s colour is going to be in terms of trends, there are more important things to think about. Your bedroom should have soft acoustics, and no electronics in it apart from lighting. I use smart systems that change the colour of light by my bed, and an alarm clock that wakes me up gently with changing, increasing levels of light. Materials are important: if you sleep in a pine bed, it lowers your heart rate.

A biophilic hotel bathroom by Oliver Heath

We know that by connecting with people in a natural environment that it creates a certain mood and dynamic. The most obvious example is sitting around a campfire, when you feel the warmth of the fire, hear the crackle of logs and smell food cooking. Shared moments in nature bring people together. I have wood panelling in my home made from salvaged larch, from trees that came down in Kew Gardens in the big storm of 1987, and we used the same material to clad the kitchen cupboards. We know that just seeing natural wood makes us feel better. The work surfaces in my kitchen are made from crushed recycled glass, and the walls are painted with Volatile Organic Compound-free (VOC) eco paints. As kitchens can be limited in space, I often recommend introducing greenery via a small green wall system – it can improve air quality and provide you with fresh herbs.

We have worked on numerous white papers studying biophilic design. The latest is about designing for cognitive and sensory wellbeing. Sustainable design is about engineering, but biophilic design is different. We have established a series of courses to teach the core principles, helping you explore what’s possible and how to achieve the best results. People have found them hugely rewarding, and a total revelation.

Matt Morley
Founder and director, Biofilico

Matt Morley, the founder and director of Biofilico

Biophilic design is an instinctive response to our disconnect from the natural world, an attempt to redress the balance by bringing the outside world in once more, especially in dense, urban environments.

There are various models out there, such as Stephen Kellert’s ‘14 Patterns of Biophilic Design’ and things can get fairly technical if we go down that rabbit hole, but, in general, I keep it simple by referring to biophilic interiors as spaces that harmoniously balance sustainability and wellbeing, with nature acting as the bridge between the two. For me there is nothing more mood-enhancing and visually appealing than a display of organic, seasonal, and locally sourced fruit and vegetables on a kitchen counter, preferably in a variety of ceramic bowls with a wabi-sabi finish and perhaps a Monstera leaf in water for a final botanical flourish.

Close-ups of natural elements in Morley’s interiors

Installing a botanical-print wallpaper with toxic adhesives that create VOCs that damage indoor air quality, or placing a couple of randomly chosen plant species in plastic pots in the corner of a room and claiming ‘purified indoor air’, doesn’t cut it. By applying evidence-based design principles we can avoid bio-washing. Wellness tech, such as commercial-grade indoor air quality monitors, accompanied by cloud- based 24/7 analysis and even certification from a standard, such as RESET Air, are now a part of the service our studio offers – especially post- Covid when Indoor Air Quality (IAQ) is more relevant than ever.

Close-ups of natural elements in Morley’s interiors

Advances in bio-based, organic and above all healthy building materials also provide us with an ever-growing tool kit of green and healthy alternatives to paints, fabrics, insulation materials, furniture and adhesives that can otherwise contain toxic chemicals and have a negative impact on the environment. Biophilic soundscapes from the likes of SWELL (sound wellness) now offer on-demand access to nature-based sound experiences designed for mental wellbeing.

Close-ups of natural elements in Morley’s interiors

A biophilic lighting strategy combines efforts to maximise daylight exposure, with LED circadian lighting systems that mimic our natural 24-hour cycles to both enhance productivity during the day and improve sleep at night, while reducing energy consumption in the building. Simply by providing more of the natural light spectrum and intensity our bodies are programmed for at certain times of day, we can gently improve energy levels by day and promote restorative rest by night.

Harleen McLean
Harleen McLean Interiors

The term ‘biophilia’ was first coined by Erich Fromm in the 1970s – calling it “the passionate love of life and of all that is alive” – and it has been the basis of my practice since I established it more than 30 years ago. It’s always been a part of my approach to design. I grew up in Africa, surrounded by nature, and it was only when someone in the US said to me, “Oh, you’re a biophilic designer”, that I put a name to it. I had just always been inspired by wildlife and landscapes, and the colours linked to them. It is inherent, because of where I come from.

Often when you’re working on a home, you have major obstacles. I am working on a Victorian residence in London, and the structure doesn’t lend itself entirely to the changes I want to make. But often you can use modern elements to create a biophilic interior. A floating staircase works well, because it’s all about space and light.

An original bug-themed kitchen splashback designed by Harlan McLean

Certain simple things can contribute a lot, such as lavender. The colour brings something from the natural world, you can use the fragrance via candles, and also bring it inside, literally, as a pot plant. You can buy fresh culinary lavender and hang it up to dry in your kitchen. You’re creating a multi-sensorial experience in the room you entertain in, through textures, shape and colour. It’s important to have ease of
movement in the kitchen, while activating your taste buds and other senses.

Technology has changed a lot since I started my practice, which has helped. Years ago we had ‘mood lighting’, and now you can do a million things with the colour temperature of light.

Read more: Sophie Neuendorf: NFTs – Hype or Here To Stay

Visual elements within my designs aren’t always obvious. I was interested by what WilkinsonEyre and Grant Associates did with the Gardens by the Bay in Singapore. The architecture is inspired by orchids, but the lighting used in the towers is inspired by the patterns in a mammal’s eye, so when they light up you have a connection to that, even if you don’t know what it is. I frequently incorporate a visual representation of animal or plant DNA in fabrics or wallpapers that I create for an interior. It’s subtle, but it has impact and meaning.

Find out more: gaggenau.com

This article appears in the Summer 2022 issue of LUX

An NFT from Tezos

They’re being shown at Basel, included in Venice: let’s see what the data tells us about NFTs and their long-term potential. Our contributing editor and columnist Sophie Neuendorf looks into it

Sophie Neuendorf

At this point, I believe that most of you will have heard of the phenomenon that’s taken the art world by storm: Non-Fungible Tokens, better known as NFTs. Ever since Christie’s sold that now famous NFT by artist Beeple for $69 Million in March 2021, this nascent category has grown exponentially. Over the past year, something like $44 billion has been spent on about 6 million NFTs, usually issued to certify digital creations but sometimes for physical objects such as paintings and sculptures.

The popularity of NFTs can be attributed to several factors. Primarily, it can be attributed to the rapid digitalisation of the art industry. Now, more and more artists, collectors, and professionals are comfortable with browsing, interacting and transacting online. This coincides with the cultural shift to the metaverse, which is a digital copy of the real world. It’s unsurprising that the metaverse should include fine art and collectibles, given that luxury fashion brands such as Gucci, Prada or Ralph Lauren are also represented.

Jimmy Fallon’s NFT by Bored Ape Yacht Club

But how can one identify ‘good’ or ‘bad’ NFTs and NFT artists? How do we know which NFTs are a good investment? This process is not much different to that of traditional art: after a period of time, a selection of NFT artists will crystallise as those that are most in- demand and desired. This may be a reflection of tastes and preferences but also of the zeitgeist and, most importantly, of who collects them. Many of us look to tastemakers and well known gallerists or collectors to see what they are buying, then use that information to help us form an opinion.

As one does before committing to a traditional work of art, it’s important to research prices and comparables before purchasing an NFT, as the market for NFTs has evolved and changed rapidly, even within the past year.

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As you can see from the graph, the prices for NFTs appreciated rapidly from the spring of 2021. However, since the end of last year, NFT prices have experienced a correction – the average transaction value has decreased substantially. This is in no way a reflection of the long-term viability and value of NFTs as a collecting category, but can be interpreted as the stabilisation of the market. Much more volatile than other assets or collectibles, such as contemporary art or gold, NFTs also suffer from price fluctuations due to the changeable nature of cryptocurrencies. Additionally, as it’s a new category, speculators may see it as less viable and secure as an investment in comparison to traditional blue-chip categories (as demonstrated below, on this page) – as yet, in terms of art as an investment, postwar and contemporary art, for example, are seen as much more secure than the nascent NFTs.

Yuga Labs is the company that is responsible for the extremely pricey ‘Bored Ape Yacht Club’ NFT series. At the beginning of this year, they announced the acquisition of the intellectual property behind their rival Larva Labs’ CryptoPunks and Meebits projects. This means that now three of the world’s most important crypto companies are under one blockchain-supported roof. Yuga Labs thus attempts a novel solution to a riddle facing more and more art professionals in this era of Instagram-ready immersive installations, branded merchandise, and fractionalised ownership: how do you turn a niche obsession into a mainstream phenomenon?

One of 10,000 avatar NFTs created by Azuki

Yuga Labs’ answer is to grant direct financial incentives to NFT owners to help the company build – and market – a creative universe around its tentpole intellectual property (IP). The move makes an expensive category accessible to a potentially much wider fan base. Despite the correction in transaction value, these popular NFTs are still expensive. The cheapest Meebit now costs about 5.6 ETH ($14,500). The floor price for a CryptoPunk is about 75 ETH ($195,000). Bored Apes sell for at least 97 ETH ($250,000).

Read more: Maryam Eisler On Tim Yip’s ‘Love Infinity’

‘Rebirth’ by Beeple

This new development answers the question of how to build a broad fan base for IP in such short supply, and with such impressive price tags: create derivative works available at low costs. Think of the Basquiat estate licensing the artist’s imagery for Uniqlo T-shirts. The difference is that Yuga Labs is outsourcing this task to NFT owners, rather than proliferating the Punks, Meebits, and Apes in house. Yuga Labs will give direct financial incentives to NFT owners to help the company build and market a creative universe. Or, to compare it to the traditional art world: create prints off of original works on canvas for a fraction of the price.

NFTs have already been shown at major fairs, such as Art Basel. This year’s Venice Biennale is showing NFTs in the Cameroon Pavilion. Galleries and museums, such as the Uffizi and Belvedere, are issuing NFTs of their Old Master and modern paintings. With auction houses such as Sotheby’s, Christie’s, and Artnet auctions regularly offering NFTs, it’s only a matter of time until they are less of a novelty and more fully integrated in the traditional art industry.

Sophie Neuendorf is Vice-President at Artnet

This article first appears in the Summer 2022 issue of LUX

The Nature Conservancy has grown to become one of the most effective and wide-reaching environmental organisations in the world. All images copyright: Carla Sanatana/ TNC Photo Contest 2019, Ethan Daniels, Randy Olsen, TNC Belize, Claire Ryser/TNC Contest 2019, Julieanne Robinson Stockbridge

Non profit environmental organisation, The Nature Conservancy, has over 400 scientists working and impacts conservation in over 75 countries and territories. With the UN Ocean Conference currently taking place in Lisbon, Melissa Garvey, Global Director, Ocean Protection at The Nature Conservancy speaks to LUX about the effectiveness of philanthropy and investment to protect the oceans

LUX: The Nature Conservancy has an interesting niche, combining philanthropy and investment. How does that work?
Melissa Garvey: The Nature Conservancy is a global environmental nonprofit working to create a world where people and nature can thrive. Building on nearly six decades of experience, we’ve protected more than 280 million acres of ocean, 119 million acres of land, and 5,000 river miles. We are able to accomplish so much because we make careful use of our resources, maximising the philanthropic and public funding that goes toward our science-driven program work.

We are also able to leverage philanthropic funding with innovative finance strategies. The Nature Conservancy has an impact investing unit that works with our conservation colleagues and collaborators around the world to source and structure investment products that support TNC’s mission at scale. With partners, we have been able to originate, structure, fund and close investment vehicles representing more than $2.3 billion of committed capital. Philanthropy is instrumental in supporting our teams to develop, execute and manage innovative finance strategies that allowing TNC to help countries access billions of dollars in long-term funding for conservation.

LUX: Financing is a key barrier hindering ocean protection. How are you overcoming this barrier?
MG: The Nature Conservancy’s Blue Bonds Strategy is one solution. We transform debt into conservation action at scale.

At the heart of these projects is a basic deal: A coastal nation commits to protect approximately 30% of its near-shore ocean areas. In support, TNC refinances the nation’s sovereign debt, leading to lower interest rates and longer repayment periods. The government uses the savings to capitalise a conservation trust fund to support new marine protected areas to which the country has committed.

TNC’s role is to assemble the deals, use our science and a stakeholder driven marine spatial planning process to facilitate the design of a system of protected areas and create a trust fund that holds the government accountable to its commitments—ensuring that we finance real conservation, not paper parks.

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An example of this is the $553 million debt refinancing we completed in Belize in November 2021. This project enabled the Government of Belize to reduce its debt burden and generate an estimated US$180M for marine conservation in support of Belize’s commitment to protect 30% of its ocean, strengthen governance frameworks for domestic and high sea fisheries, and establish a regulatory framework for coastal blue carbon projects. This is especially meaningful to the people of Belize as the country’s tourist-based economy continues to suffer from the impacts of COVID-19

Our goals is to project 4 million square kilometres of ocean and unlock $1.6 billion for marine conservation.

LUX: Are blue bonds going to become more significant elements in the market?
MG: The TNC Blue Bonds debt conversion structure is highly scalable and replicable. Transaction sizes and overall market are limited by three criteria:

1)Countries committed to achieving the conservation outcomes. As the threat of climate change and awareness of the role that natural resources and biodiversity play in economic growth rapidly increase, most developing countries will require additional financing for conservation.

2)Availability and affordability of credit enhancement, whether through the US Development Finance Corporation or development banks to do more deals in more markets.

3)Availability of debt to refinance: while debt conversions work well with sovereign debt trading at a discount in the capital markets, they are not exclusively for countries threatened by high debt distress. Many countries have high-coupon bonds. Even if these trade at little to no discount, they can still be refinanced with lower coupons and longer tenors to create significant funding for conservation. Many also have commercial bank loans that may be candidates for refinancing into a lower interest rate and/or longer tenor loans.

LUX: How will sustainable blue economy finance need to develop over the next few years?
MG: Sustainable blue finance is essential to national economies and the 3 billion people rely on healthy oceans for their livelihoods. Financing often holds back countries from implementing ocean conservation that will ensure oceans are sustainable into the future. Philanthropic and public funding is essential but insufficient to close this gap.

Today the challenge of financing the sustainability of our oceans is compounded by the Covid 19 health pandemic and the financial crisis, which has placed unrelenting pressure on public finances and slashed tourism revenues. But there is hope. Innovative debt and market approaches can help bring in new funding at a scale that can address the problem.

LUX: Are you looking for UHNWI individual investors, institutional investors or philanthropists?
MG: Philanthropy is instrumental in supporting our teams to develop, execute and manage strategies, policy and partnerships – including innovative finance strategies — that allow TNC to help countries access billions of dollars in long-term funding for conservation. We simply couldn’t do our work without the generosity of individual and institutional supporters.

LUX: Do governments need to become much more active on ocean protection?
MG: Governments are already active in ocean protection, and there is a lot more to do. We are already three years into the decade during which we have to bend the curve on biodiversity loss. So, this year the global community must finally agree a new and ambitions Global Biodiversity Framework, including a target to globally protect 30% of freshwater, land and the ocean. To deliver against this target, countries must also conclude negotiations in 2022 on a new treaty for the protection and sustainable use of the High Seas with clear powers to establish protected areas in areas beyond national jurisdiction. But we can’t wait for these treaties to be negotiated before we act. The UN Ocean Conference is an opportunity for the ocean community to both demand action and offer solutions.

LUX: Is there is a risk of creating an uneven market with low-regulation governments allowing exploitative practices on a large scale?
MG: There are always a risk like this. But investing in the health of oceans creates long term benefit. Globally, the gross value of marine ecosystem services is estimated at US $49.7 trillion. This suggests that the economic benefits would far outweigh the costs of establishing a 30% global MPA network. We are developing a costing framework to help decision makers in individual countries better understand today’s costs of implementation and management of ocean protection as well as the long term benefits of marine conservation so that governments, NGOs and the private sector can make more informed choices.

LUX: How important will the role of science and innovation be in the Blue Economy? Can you give some examples?
MG: Science and innovation are essential for Blue Economy interventions that change the way that we protect and value oceans. For example, did you know that you can insure the protective value of nature? You can.

It works like this: We know that reefs can decrease the power of waves coming on shore by about 97%. That is really important during the ever more frequent – and increasing more severe – storms. But these storms also take a toll on reefs, which leave coastal areas at greater risk to future damage if the reef isn’t restored. We worked with the insurance industry and put that science into insurance models. Together, we came up with the world’s first insurance policy to insure a portion of the Meso-American reef in Quintana Roo, Mexico that protects areas near Cancun and its $10B tourism industry from hurricanes. If a storm hits, the insurance is triggered to ensure that the reef can be quickly restored. This insurance was tested in the Autumn of 2020 when Hurricane Delta hit. The $800,000 insurance payout funded vital reef repair activities. This is a win for nature, a win for coastal communities and will drive further interest in conservation finance and the need to protect marine ecosystems across the globe.

Read more: Julie Packard: All In Together

LUX: There is no metric to compare the value of different nature-based solutions in ocean conservation, and no consistent measure of the effectiveness. Is this true, and is it an issue?
MG: I don’t agree that we can’t measure nature-based solutions. The reef insurance I mentioned above is one example. Here’s another: Blue Carbon Resilience Credits. We know that the coastal wetlands provides a unique opportunity for climate finance. If we restored even a quarter of these habitats, we would add 10 million hectares of carbon-trapping wetlands to our coastlines. That is an area equivalent in size to Iceland. In addition, protecting existing coastal wetlands would prevent the release of 80 million tons of carbon emissions currently being stored by these habitats.

TNC worked with international experts to develop science, flood modelling, and carbon and resilience methodologies for the Blue Carbon Resilience Credit. These credits support not just carbon mitigation, but also quantifiable, verifiable resilience benefits like flood reduction to adjacent communities. We have identified projects across the US and globally and are bringing our first supply of Blue Carbon Resilience Credits to market.

LUX: You say a comprehensive approach is best for ocean investment. How should this work?
MG: To achieve truly durable ocean protection, we have to focus on scale and representativeness of the areas we conserve, as well as ensuring long term financing for conservation, and equity and sustainable livelihoods for the people who rely on oceans. Our global ocean protection program drives new protection, restoration, and management improvement in support of biodiversity and communities.

We work at multiple scales. We address the long-term need to secure large-scale new protection and sustainable financing for marine conservation while we tackle today’s urgent need to restore critical coastal ecosystems — like coral reefs and coastal wetlands — and improve management of our oceans, while we build capacity for communities to manage their marine resources.

Find out more: nature.org

The OWO Whitehall, Residents’ Lounge. Image courtesy of Grain London

London’s hottest luxury residential area? Westminster, next to the Houses of Parliament and Downing Street. So what took it so long, asks Samantha Welsh

Big Ben, Downing Street, Whitehall, Parliament Square, Trafalgar Square: all names intimately associated with London, and now the administrative and touristic heart of the world’s high net worth capital. The area, broadly known as Westminster, is (pandemic excepted) the epicentre of tourism in Britain.

The OWO Whitehall, principal bedroom. Image courtesy of Grain London

And now you can live in high style down the road from the Prime Minister and the royals, with the creation of one of the most opulent residential developments in the world, inside the heart of the area’s grand buildings.

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The Old War Office (OWO), in Whitehall – opposite Horse Guards Parade and almost directly opposite Downing Street, and so near to the Prime Minister’s residence that you could shout from rooftop to rooftop to see if you could borrow some milk (or champagne for a lockdown party) – has been transformed into 85 apartments.

The OWO residence turret. Image courtesy of Grain London

They are serviced by Raffles, the appropriately peripatetic luxury hotel brand now owned by the French Accor group. A new Raffles hotel, London’s first, is opening next-door and residents will have a full suite of luxury services. The building’s redevelopment has been done with thought: the best of British material and design, along with other high-end touches, like bespoke appliances by the German manufacturer Gaggenau.

Read more: Maryam Eisler On Tim Yip’s ‘Love Infinity’

Residents will have priority access to 11 restaurants and 3,000sqm of leisure facilities, gardens and terraces. The building’s heritage has been conserved in partnership with Historic England, with design overseen by Thierry Despont. As an OWO resident your local chiming clock is Big Ben.

The OWO residence entrance hall. Image courtesy of Grain London

This is the building from which Winston Churchill directed efforts in the Second World War of what was then the British Empire. The apartments now are suitably imperial, but have a contemporary smoothness. On your Sunday morning strolls in St James’ Park (assuming you haven’t decamped to your weekend home in the Cotswolds or Ramatuelle) you will bump into the Prime Minister, and numerous spies – the important ones are there on Sundays. Arguably the best school in the world, Westminster, is along the road. And if you need to lobby the government, you can just lean out of the window, while puffing on your Romeo y Julieta and sipping a glass of Pol Roger, Winston Churchill-style.

Find out more: theowo.london

This article appears in the Summer 2022 issue of LUX

Aberlour, Deanston and Bruichladdich whiskey

Launching his new column for LUX, whiskey collector, Utsava Kasera advises on the perfect whiskies to suit your Father’s Day plans

It is the best of time and it is the worst of time for whisky. What was considered as a drink for older generation is now being revered by the world savvy dandies as their drink of choice. While the whisky boom in the last decade has made the consumers spoilt for choice of their dram, it has also created cult figures like Macallan and Yamazaki. Sometimes even having deep pockets is not enough to get hold of some of the finest collectibles, which either go under the hammer or just reach the drawing rooms of the select few.

Utsava Kasera

With fathers’ day approaching, I’ll share some suggestions for a tipple with the old man to go along with some stories. Whether you decide to go on a hiking trip with him, play a round of golf or just sit in the garden on a glorious summer afternoon, one of these whiskies will be a pleasant companion for those engaging conversations or silences between them.

Aberlour 16-Reserve Collection

Aberlour 16-Reserve collection

Aberlour produces some fine whiskies but what stands out is their reserve collection.
If sherry is your thing, this is an absolute gem. The nose reminds me of walking in a room full of sweet spices while the palate is a dark chocolate cake with sour cherry, cinnamon and liquorice. At 55 percent ABV, it does set some fireworks at the first sip but grows on you while you continue the evening.
Offered with optional engraving to write that special message.

Find out more: www.aberlour.com/distillery-reserve-collection

Deanston Port Cask 2002

Deanston Port Cask 2002

A rising star in the whisky world, Deanston is getting rave reviews for their whiskies. Under the master distiller Brendan McCarron, they do some interesting experimentations creating delicious spirits with distinct waxy characteristics. Deanston Port Cask is a distinct one as the waxy style is enhanced by flavours of toffee, juicy pear and pineapple. At ABV 51.1, this is a surprisingly easy whisky to drink. Hard to find, but if you’ll go an extra mile, it’ll be a very special gift.

Find out more: deanstonmalt.com

Bruichladdich Black Art 9.1

Bruichladdich Black Art 9.1

Nestled in the beautiful west coast of Scotland, Bruichladdich distillery on Isle of Islay is one of my favourites. Isle of Islay is known for producing peated whiskies but Bruichladdich offers some incredible unpeated choices too. Black Art 9.1 is one of their masterpieces for its sheer complex flavours. This whisky is a honeyed Christmas cake layered with tropical fruits and a hint of sweet vanilla. Savour it to start the evening, finish the evening or just save it for a special occasion, this dram will not disappoint.

Find out more: www.bruichladdich.com/-black-art-1992-edition-09-1/