PARIS, Oct. 17, 2024 /PRNewswire/ — The Marcel Duchamp Prize is a distinction initiated 24 years ago by a group of French collectors and the ADIAF (Association for the International Diffusion of French Art). The prize received notable momentum from French art collector Gilles Fuchs after he observed a decline in international prominance of French artists in the 1990s. His motivation was to contribute to better representation and promotion of French art in a delicate context for the French Contemporary art market.

Thierry Ehrmann, Founder of Artprice and President of Artmarket.com, congratulates visual artist Gaëlle Choisne, as well as four other finalists for the 2024 Marcel Duchamp Prize: “Our company is very proud to support the Association for the International Diffusion of French Art (ADIAF) and the Marcel Duchamp Prize. France remains a mecca for artistic creation thanks to the quality of its exhibitions – from Surrealism at the Centre Pompidou to Tarsila do Amaral at the Luxembourg Museum, as well as Arte Povera at the Bourse de Commerce, and Tom Wesselmann at the Fondation Louis Vuitton – and the vitality of its Contemporary artists. France has huge potential that has still not fully materialized on the Contemporary art market.“.

The Marcel Duchamp Prize was awarded by the President of ADIAF Claude Bonnin to one of the most promising young French artists between the Lyon Biennale of Contemporary Art and the opening of the Art Basel Paris fair. Gaëlle Choisne’s work was recently exhibited at the MAC VAL in Vitry-sur-Seine, by the Reiffers Art Initiatives in Paris and at the KfW Stiftung in Frankfurt. After receiving the Aware 2021 prize 3 years ago, she has now received France’s most prestigious artistic prize.

The Air de Paris Gallery, which has represented Gaëlle Choisne since 2021 with a first solo show in Romainville titled “Mondes subtiles“, describes her work in these terms: Gaëlle Choisne combines a documentary approach (photography and video) with the use of raw materials, addressing socio-political questions linked to the over-exploitation of natural resources and colonial history. Born to a Haitian mother and a Breton father, the artist combines oral traditions, Creole mythology, and popular culture in works that refer both to the history of Haiti and to her own narrative.

Gaëlle Choisne is the only artist among the finalists for the 2024 Marcel Duchamp Prize not to have had any sales at public auction, proof that the ADIAF and its international jury have not been influenced by auction room performances. Last year’s winner, Tarik Kiswanson (1986), was also invisible on the auction market. Like the Marcel Duchamp Prize, France sometimes gives the impression of viewing the market as a secondary concern.

The four finalists for the 2024 Marcel Duchamp Prize

Abdelkader Benchamma
Templon Gallery (Paris) and ADN Galeria (Barcelona)
4 results in public sales
https://www.artprice.com/artist/347225/abdelkader-benchamma?cl=en

Gaëlle Choisne
Air de Paris Gallery (Paris)
0 results in public sales
https://www.artprice.com/artist/1199619/gaelle-choisne?cl=en

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Noémie Goudal
Edel Assanti Gallery (London)
8 results in public sales
https://www.artprice.com/artist/699342/noemie-goudal?cl=en

Duo Detanico & Lain
Martine Aboucaya Gallery (Paris), and LMNO (Brussels)
4 results in public sales
https://www.artprice.com/artist/442235/angela-&-rafael-detanico-&-lain?cl=en

The Marcel Duchamp Prize, awarded on October 14, 2024, marks the start of a particularly important month for France. In addition to the third edition of Art Basel Paris (for the first time organized at the Grand-Palais since the FIAC) and the first edition of the fair The Salon by NADA, there will also be crucial sales at Christie’s and Sotheby’s (which is inaugurating its brand new space at the intersection of Rue du Faubourg Saint-Honoré and Avenue Matignon), as well as numerous gallery exhibitions.

France sees a return to growth in art auction turnover, consolidating its 4th place globally and its 1st in the European Union, with $62.8 million, that is, 3.3% of global turnover from Contemporary Art auctions, according to Artprice’s latest Annual Report. France has an ideal gallery and market structure, with an extremely dense network of artists, museums, galleries, auction houses, fairs, etc. and there is no reason why it should not regain a key place on the global contemporary art market, capable of attracting the world’s biggest art collectors.

https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2024

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New research led by Profundo, BankTrack and the Plastic Soup Foundation reveals a lack of bank policies dealing with the impact of plastics on climate, nature and humans

AMSTERDAM, Oct. 17, 2024 /PRNewswire/ — Most commercial banks are blind to the risks associated with financing companies in the plastic supply chain, in particular the detrimental impact of plastic on climate, nature, human health and communities. As a result, very few banks have policies in place to effectively deal with these risks, let alone exclude finance for the plastics industry altogether.

This is the main conclusion from a first assessment of bank policies on plastic conducted by the Plastic Banks Tracker aimed at exposing the role of commercial banks in financing the plastics life cycle: from polymer producers via the food industry and retail companies to the waste management sector.

Assessment of commitment, policies and implementation
This first assessment covered twenty of the biggest banks that play a prominent role in financing companies in the global plastics lifecycle, including some banks that participate in the UNEP Finance Leadership Group on Plastics. ^[1] Our methodology assesses three different phases a bank must go through to properly finance the plastics transition: Acknowledgement of their role in perpetuating the plastics crisis and Commitment to be part of the solution; Policy development (‘Policies’) to guide their financing decisions, and Implementation of these policies through screening, engagement with clients and providing attractive financing conditions for alternatives. Based on their scoring for these phases, banks are then categorized on a laggards to leaders scale.

Most banks are slow performers
A new website published today, www.plasticbankstracker.org, shows that, of the twenty banks investigated, none of them can be considered a leader. Only two banks score reasonably well on Acknowledgement and Commitment.

Germany based ProCredit qualifies in our ranking as a moderate achiever, while Dutch banking group ING is seen as a follower.

Disappointingly, the other 18 banks rank among the slowest performers. Some of these banks, such as Mitsubishi UFJ, Barclays and BNP Paribas, do have relevant policies in place on for instance climate change, nature protection, or health and communities. However, because they lack proper acknowledgement and commitment related to the plastics crisis, they cannot be expected to strictly implement these policies in their financing relationships with companies in the plastics lifecycle.

Based in on the Plastic Banks Tracker methodology, all banks received a score on a scale from 0-100.

Jan Willem van Gelder, Director of Profundo, which conducted the research, commented: “It is striking to see that so many banks heavily exposed to companies in the plastics life cycle fail to acknowledge the severity of the plastics crisis and their own specific responsibility for it. While most banks have high-level policies on health, human rights and climate change, these will not help solving the plastics crisis as long as they do not commit to prioritize implementation of these policies with their clients in the plastics lifecycle.”

Maria Westerbos, Director of the Plastic Soup Foundation: “The research reveals there is a total lack of urgency in the banking sector to deal with the current global plastic crisis. The current plastic production of 500 million tons a year is out of control; we eat, drink and breathe plastic, and scientists found plastic in our blood and recently even in our brains. The projections show plastic production will triple in the next decades if no serious measures are taken. As the financiers of this system banks can play a crucial role in changing the direction of plastic production.” 

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Johan Frijns, Director of BankTrack, further commented:
“The ever-increasing production and consumption of plastics is widely seen as a major environmental and human health crisis, for which at some point not only plastic producers but also their financiers will be held accountable. Banks must understand that being perceived as a ‘Plastic Bank’, bankrolling plastics production, carries the same severe reputational risk as financing the continued exploration of fossil fuels as a ‘Fossil Bank’. Banks must disentangle themselves from these two strongly connected industries and instead focus on financing the energy and plastics transition.”  

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The transaction represents the REIT’s fourth property acquisition since inception

PHILADELPHIA, Oct. 17, 2024 /PRNewswire/ — EQT Exeter Real Estate Income Trust, Inc. (“EQRT”) today announced its fourth acquisition, purchasing 2871 S. 102nd Street in Tukwila, Washington for $81.5 million.

The 202,464 square-foot property is fully occupied by a multinational online retailer with an investment grade credit rating. The last mile industrial building was completed in 2021 and features rare class-A building specifications for its infill South Seattle location.

The property’s strategic location offers proximate access to Seattle’s growing population, with nearly 4 million people located within a 1-hour drive and an industrial labor force of over 200,000 within a 45-minute drive. Its location also provides connectivity to customers and suppliers via a diverse network of closely located interstate freeways, the Port of Seattle and Seattle International Airport. Interstate 5 borders the South Seattle submarket and runs from Vancouver, B.C. to Mexico, providing access to major population centers along the West Coast.

“South Seattle is a highly sought-after, low-supply infill market with limited developable industrial land, an aging building stock, and strong appetite for warehouse space,” said Ali Houshmand, Global Head of Non-Traded REITs at EQT Exeter. “Rapid population growth and increasing e-commerce demand, as well as dynamic emerging industries make this property an ideal regional distribution location to the core of Seattle and surrounding region.”

The transaction marks EQRT’s fourth acquisition since inception, bringing total capital deployed over the period to approximately $390 million.

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Forward-Looking Statements Disclosure
Statements contained in this press release that are not historical facts are based on EQRT’s current expectations, estimates, projections, opinions or beliefs and speak only as of the date hereof. Such statements are not facts and involve known and unknown risks, uncertainties, and other factors. You should not rely on these forward-looking statements as if they were fact. These forward-looking statements can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “target,” “estimate,” “intend,” “continue,” “forecast,” or “believe” or the negatives thereof or other variations thereon or other comparable terminology. Actual events or results or EQRT’s actual performance may differ materially from those reflected or contemplated in such forward-looking statements as a result of various risks and uncertainties including those relating to future economic, competitive and market conditions and future business decisions by EQRT. No representation or warranty is made as to future performance or such forward-looking statements. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of this information should not be regarded as a representation by EQRT or any other person that EQRT’s objectives and plans, which EQRT considers to be reasonable, will be achieved.

Except as otherwise required by federal securities laws, EQRT does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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