Frieze to launch climate change fundraising initiative at its London fairs

"If successful, we'd love to repeat and scale it, making philanthropic giving for climate action a normalised part of the art market. We see the potential for it to become a recurring, sector-wide practice that provides long-term funding for systemic change, while also giving galleries a platform to demonstrate leadership, engage collectors and support sustainable solutions."

"It is also about setting a precedent, and demonstrating the potential of collective action across the industry."

"I can't claim to be an environmental activist, I'm more like a 10% activist. But I think there are lots of us who are 10% activists, and if you put a lot of 10% together, it begins to add up."

During Frieze London and Frieze Masters (15–19 October), participating exhibitors agreed to donate 10% of the sale price of more than 30 works to the Gallery Climate Coalition. Most works are priced between £30,000 and £50,000, with the most expensive at €140,000 (about £120,000). Twenty-five galleries, including Hauser & Wirth, Gagosian and Sprüth Magers, have joined the scheme. Discussions with additional participants continue before a 6 October deadline. The initiative, called "10% of", aims to normalise philanthropic giving in the art market, scale collective fundraising and support long-term systemic change.

Read at The Art Newspaper - International art news and events