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Global Warming and Climate Change, Global Warning Information, Updates

Global Warming and Climate Change

Updated January 2011

The year 2010 ended with an enormous blizzard that engulfed the northeast US, paralyzing New York and Boston and much of the Atlantic Coast.  That storm was followed almost three weeks later  by yet another severe snow storm that had the same effect.  Speculation started immediately that these events had their  roots in global warming – Time Magazine wrote:

“The World Meteorological Organization recently reported that 2010 is almost certainly going to be one of the three warmest years on record, while 2001 to 2010 is already the hottest decade in recorded history. Indeed, according to some scientists, all of these events may actually be connected.”

Just a few days before at the CNN debate on climate change, UN Climate Secretary Christiana Figueres said that “private businesses are better placed than governments to tackle global warming because they can act faster...”  There appeared to be an agreement at the event that the urgency to reduce carbon emissions was such that business could not afford to wait for governments to act.

Prior to the UN-sponsored Cancun Climate Conference in December 2010, the world's largest global investors were urging the conference delegates and the US Congress to “take action now in the fight against global warming or risk economic disruptions far more severe than the recent financial crisis.”

Unfortunately, at Cancun and the year before in Copenhagen, government progress to address climate change only inched slightly forward.  But while government consensus moved by inches, the scientists tell us we should be moving by miles   – or do they?

The last two years has seen the debate of the existence of human-caused climate change -- or any climate changed -- challenged by doubters.   Some poor science conducted by some believers/ supporters, followed by unfortunate media reporting and the issues identified as hot in the recent Congressional elections saw weak support for global warming among Americans. Witness this: “The poll, one of four annual surveys conducted by Shelton Group, surveyed 1,098 Americans who at least occasionally buy green products and found only about half believe climate change is occurring and caused by human beings…”

While the majority of the American  public apparently are yet to believe in the problems of climate change and global warming and world governments unable to agree on a course of action, AC will continue to focus on potentially one of the greatest issues world society faces. Since this section was begun in April 2008 more than 1,200 articles, commentaries and reports  have been posted for our readers.  No doubt there is more to come.  (We invite you to tell us where you stand on the issues.)

 -----------------------------

Institutional investors are focused on the potential or rising risk posed by climate change to the companies they hold in portfolios.  “Climate change,” “global warming” and “sustainability” (of the company owned, over the long-term) are trigger phrases now for all manner of shareholder activities – and corporate responses. The argument is not always about “if” climate change is occurring or “who” or “what” is responsible – often, the investors now ask:  What is the company doing to prepare for and mitigate the risk?  Investors have many questions:  Has the company charted its “carbon footprint” – has management taken steps to inform shareowners of real or potential climate change risks – what are the potential costs of mitigating such risks – and more.

Looking to put muscle behind these requests, shareowners are filing numerous proxy petitions (shareholder sponsored proxy resolutions) on the ballot in 2008.  Coalitions are being formed to address climate risk issues at public companies.  On September 18, 2007, a broad coalition of investors, state officials with regulatory and fiscal management responsibilities, and environmental groups filed a landmark petition asking the Securities and Exchange Commission (SEC) to require publicly-traded companies to assess and fully disclose their financial risks related to climate change issues. The coalition formally asked the Commission's Division of Corporation Finance to immediately begin "[c]losely scrutinizing the adequacy of registrants' climate disclosures" under existing law.

The institutional investors involved represent $1.5 trillion in managed assets and include major public employee pension funds, state treasurers and comptrollers, state attorneys general and major environmental organizations.  Their “First of a Kind” resolution will create major waves on Wall Street and in the corporate suites as the campaign goes on.   (This issue is not going anyway anytime soon.)

The coalition includes the Environmental Defense, Ceres, the California State Treasurer Bill Lockyer, Florida Chief Financial Officer Alex Sink, Maine State Treasurer David G. Lemoine, New York State Comptroller Thomas P. DiNapoli, North Carolina State Treasurer Richard Moore and Oregon State Treasurer Randall Edwards, as well as New York State Attorney General Andrew M. Cuomo.

The Securities and Exchange Commission staff had no immediate reaction, but in the overall dialogue regarding shareholders rights, federal regulations and corporate governance, this measure landed like a bombshell in Washington, DC.  Accountability-Central will continue to present news and commentary as the climate change issue unfolds and various capital markets players present their views and opinions.

Learn more about climate change: http://www.learnstuff.com/climate-change-and-global-warming-an-objective-overview/

 

 


Latest on Global Warming and Climate Change

April 27, 2015 Over-consumption, climate change threaten food security, water supply: FAO

interaksyon.com - By 2050 some 60 percent more food will be needed to feed the world's people and as farming remains the largest user of water, food must be produced sustainably to ensure future supplies of food and water, the...

April 27, 2015 Drought Frames Economic Divide of Californians

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The fierce drought that is gripping the West — and the imminent prospect of rationing and steep water price increases in California — is sharpening the deep economic divide in this state, illustrating parallel worlds in which...

April 27, 2015 China is building a Great Wall of Trees to fight climate change and the encroaching Gobi Desert

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China is the world’s largest emitter of greenhouse gases, but it is also engaged in a massive tree-planting program that has helped to offset tropical deforestation, and suck some of the climate-changing carbon dioxide out of the...

April 27, 2015 Climate Change Authority emissions reduction targets 'too weak', says Milne (Australia)

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Greenhouse gas reduction targets suggested by the independent Climate Change Authority are too weak, according to the Greens, who say Australia should reduce emissions far more quickly, with the aim of net-zero pollution by 2040.

April 27, 2015 Earth Day Goes Viral

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Prince Ea is a musician on a mission. The St. Louis–based rapper uses spoken word to promote social change, and his latest video, Dear Future Generations: Sorry, written for Earth Day’s 45th anniversary, has struck a chord.

April 24, 2015 The 3 Greenest Oil & Gas Companies in the World

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April 24, 2015 Boardrooms and public fuel momentum for climate change: experts

Reuters - OXFORD, England (îThomson Reutersî Foundation) - A new climate deal this year ... An additional boost may come from a new set of international îSustainableî Development Goals due to be agreed in...

April 24, 2015 Global investor groups publish guidance on investing in solutions to address climate change

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April 24, 2015 Environmental Disasters Are About Responsible Governance

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Vancouverites are angry. And we should be. The release of bunker fuel into the sanctuary of English Bay, and its aftermath, have highlighted a reckless, heady and myopic approach to economic development characteristic of...

April 23, 2015 2 degrees: The most important number you've never heard of

CNN - "It's almost kind of like a truth keeping mechanism," said Jennifer Morgan, global director of the climate change program at the îWorld Resources Instituteî. "It would be hard if it didn't exist to have a sense...

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