This document discusses how being green and reducing carbon footprints could influence fine art insurance. It defines carbon footprints and outlines how the carbon emissions of art, artists, exhibitions, packaging, transportation and insurance companies could impact risk assessment and management. The document provides examples of carbon emissions from different transportation methods and suggests that exhibition planning may need to consider lower emission options in the future. Overall, the document speculates that carbon footprints could begin affecting insurance volume, risk management practices and premiums.

1. Does being green influence
fine art insurance?
Dr. Stephan Zilkens
European Registrars meeting
Amsterdam November 9th 2010

2. Agenda
• Definition – what does it mean being green?
• Carbon footprint and its implication on
 Art
 Artists
 Exhibition and Museum
 Packaging and Transport by Air, Sea, Road
 Travelling
 Risk carrier
• Change of Risk and Risk Management ?
• A Scenario of Exhibition planning in the future
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3. Being Green ?
• Taking care of the environment to preserve the planet
for future generations
 Reduce spoil of resources
 Live conscious in private and public life
 React responsible on megatrends
 Globalisation
 Growth of Population
 Struggle for food and energy
 Climate Change
• But – you can only control what you can measure !
Carbon Footprint
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4. Definition of carbon footprint
• total set of greenhouse gases (GHG) emissions caused
by an organization, event, product or person
 For simplicity of reporting, it is often expressed in
terms of the amount of carbon dioxide, or its
equivalent of other GHGs, emitted
 Carbon dioxide emissions into the atmosphere are
often associated with the burning of fossil fuels, like
natural gas, crude oil and coal
• The Kyoto Protocol defines legally binding targets and
timetables for cutting the GHG emissions
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5. First Step: Transparency
reduce CO2 !
5. Check Potential to reduce CO2
4. Calculate Carbon footprint
3. Analyse Date
2. Check Data
1. Collect Data
Carbon Footprint is the relevant Information to reduce CO2
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6. Factors regarding exhibition risks
Painting
Sculpture
Object
Risk
carrier Storage
Insurance warehouse
Company
Exhibition
footprint
0
Museum
Exhibition Packaging
hall
Transport
Road
Sea
Air 6

7. Cargo caused CO2 emission – example Germany 2005
Transport Quantity Emission G CO2 / tkm
(Billion tkm) (Million t Co2)
Truck 394 51 89
Railway 95 3 24
Riverboat 64 2,5 35
Ship 1612 (24-34)*) 9
Aircraft 7 4,5 665
Source: IFO und UBA 7
*) different sources give different results

8. Example Textile Industry –
Shirt produced in India and sold in Germany
3,78 kg CO2
Hamburg 0,07 kg CO2
Frankfurt
Dhaka
Singapur
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9. Options to optimize CO2
kg CO2-emission per t one way
Munich
Istanbul
Road transport optimization General optimization
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10. Change of Risk through carbon footprint?
• Each Museum has its individual footprint
 Heating, size, energy consumption also for security
• Each Art Object has its individual footprint
 Painting, sculpture, multiple, installation
 Crate, frame, breakable item
• Each Transport has its individual footprint
 As shown above
• Each insurance company has its individual footprint
 People, structures, offices
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11. Risk management today – not influenced by carbon footprint
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12. Exhibition planning in the future CO2 reduced
• Low energy consumption – influence on security
probable
• Change of transport means (sailing ships instead of
aeroplanes) – influence for damages more than probable
• Only natural packing materials – for sensible items risk
of not being insurable
• Choice of Risk Carrier (Insurance company) following its
carbon footprint – rating problems ahead
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13. Being green impact on insurance ?!
Volume Insured - integrated Risk Management – premium related
Must stay in an adequate relation - Change of sponsoring?
Carbon certificates !
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14. We would be pleased to provide you with
further information on request and to help
with queries at any time.
Please do not hesitate to contact us.
Zilkens Fine Art Insurancebroker GmbH
Eupener Straße 70 • 50933 Köln
phone +49 221 8 00 68 420
fax +49 221 8 00 68 421
mobile +49 171 3 30 66 30
e-mail zilkens@zilkensfineart.com
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