‘Mornings on the Seine’ Painting by Claude Monet Could Fetch Nearly $23 Million
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‘Mornings on the Seine’ Painting by Claude Monet Could Fetch Nearly $23 Million

By ABBY SCHULTZ
Sun, Feb 11, 2024 7:00amGrey Clock 2 min

Christie’s will sell a painting from Claude Monet’s Matinées sur la Seine series at its evening sale of 20th- and 21st-century art on March 7 in London for an estimated price of up to £18 million (US$22.7 million).

Matinée sur la Seine, temps net (Mornings on the Seine, clear weather) , 1897, was consigned by an unnamed collector who bought it in May 1978 at a Sotheby’s auction in New York for US$330,000, according to Christie’s. The painting is among early examples of Monet’s practice of serialising specific scenes, “a technique that would ultimately transform his art,” Christie’s said in a news release.

In this example, Monet painted the river Seine during summer mornings in 1896 and 1897. “Tracing the sun as it passes over the scene, from the first rays of light at dawn, to the full brilliance of the sun at mid-morning, this extraordinary sequence of works was conceived as a connected, interrelated sequence of canvases,” Christie’s said.

A viewer can see the sun rising across the canvases when they are exhibited as a group, the auction house said. It was after Monet painted the Creuse valley in central France at different times of day in 1889 that he returned to the idea of serialization. A painting from the Creuse series, Prairie fleurie à Giverny , 1890, also will be offered during the March 7 evening sale. Christie’s has not placed a value on the work yet, which is being consigned from a Japanese collection.

Another example from the Seine series, also painted in 1897, sold at Christie’s in November 2017 from the collection of Nancy Lee and Perry R. Bass. Titled simply Matinée sur la Seine , the painting sold for nearly US$23.4 million. Matinée sur la Seine, temps net has not been seen publicly since 1990, when it toured in an exhibition titled “Monet in the ‘90s: The Series Paintings,” which opened at the Museum of Fine Arts in Boston before traveling to the Art Institute in Chicago, and the Royal Academy of Arts in London.

The painting will be on view in New York from Friday through Wednesday, before being shown in Hong Kong from Feb. 21-23 and then in London, March 1-7.



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Call to cut corporate carbon footprints is loudest from inside organizations, outweighing demand from customers and regulators, survey finds

By YUSUF KHAN
Sun, Mar 3, 2024 2 min

The pressure on companies to cut their carbon footprint is coming more from within the organisations themselves than from customers and regulators, according to a new report.

Three-quarters of business leaders from across the Group of 20 nations said the push to invest in renewable energy is being driven mainly by their own corporate boards, with 77% of U.S. business leaders saying the pressure was extreme or significant, according to a new survey conducted by law firm Ashurst.

The corporate call to decarbonise is intensifying, Ashurst said, with 30% of business leaders saying the pressure from their own boards was extreme, up from 25% in 2022.

“We’re seeing that the energy transition is an area that is firmly embedded in the thinking of investors, corporates, governments and others, so there is a real emphasis on setting and acting on these plans now,” said Michael Burns, global co-head of energy at Ashurst. “That said, the pace of transition and the stage of the journey very much depends from business to business.”

The shift in sentiment comes as companies ramp up investment in renewable spending to meet their net-zero goals. Ashurst found that 71% of the more than 2,000 respondents to its survey had committed to a net-zero target, while 26% of respondents said their targets were under development.

Ashurst also found that solar was the most popular method to decarbonise, with 72% of respondents currently investing in or committed to investing in the clean energy technology. The law firm also found that companies tended to be the most active when it comes to renewable investments, with 52% of the respondents falling into this category. The average turnover of those companies was $15.1 billion.

Meanwhile, 81% of energy-sector respondents to the survey said they see investment in renewables as essential to the organisation’s strategic growth.

Burns said the 2030 timeline to reach net zero was very important to the companies it surveyed. “We are increasingly seeing corporate and other stakeholders actively setting and embracing trajectories to achieve net zero. However, greater clarity and transparency on the standards for measuring and managing these net-zero commitments is needed to ensure consistency in approach and, importantly, outcome,” he said.

Legal battles over climate change and renewable investing are also likely to rise, with 68% of respondents saying they expect to see an increase in legal disputes over the next five years, while only 16% anticipate a decrease, the report said.

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