Christie's Announces Global Sustainability Initiative

LONDON, March 4, 2021 /PRNewswire/ -- Christie's confirmed today its commitment to more sustainable operations, pledging to be net zero by 2030.  The company is committing to a 50% reduction in its carbon emissions, achieving 90% diversion from landfill for its waste and providing all clients with packaging and printed material that is 100% recyclable.

Christie's is setting its carbon reduction goals aligned to the needs of climate science, and has committed to the Science Based Target initiative (SBTi) to help achieve the 1.5°C warming trajectory required to avoid dangerous climate change. Christie's is the first auction house to apply for this accreditation which promotes best practice and independently assesses and approves companies' targets in line with strict criteria.

"As a market leader, Christie's has a special responsibility in terms of protecting our environment and building a more sustainable business for now and for the future. We are committing to defined targets and transparent communication of our progress, while supporting collaboration across the industry," said Guillaume Cerutti, CEO.

In order to achieve the targets, Christie's is addressing four key areas:

• Shipping and Logistics - we will better utilise lower carbon transport and be more selective in touring property
• Business Travel - the pandemic has shown us what can be done without the ability to travel
• The Energy, Waste and Water from our Buildings - the company has already switched to renewable energy in the London headquarters
• Printed Materials - work has begun with a 75% reduction in print materials during 2020

Christie's will take a collaborative approach with suppliers and other stakeholders to work to reduce the collective environmental footprint up and down the supply chain. "We know the broader art industry shares the desire to combat climate change, and we promise to use our leadership position to drive positive change, actively looking to form collaborations with stakeholders across the art world and beyond," said Tom Woolston, leading Christie's sustainability program.

Christie's took the opportunity last year to reflect on their business operation and drove innovation and efficiencies around new live sale format and digital innovation. This accelerated digital transformation has moved the business forward and enhanced digital capabilities will continue to underpin a more sustainable culture. By improving and expanding the digital client experience, the environmental impact of enjoying art and luxury goods can be dramatically reduced.

The company is committing to annual reporting of future emissions and its progress towards targets, the first of which will be published later this year.

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