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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

July 30, 2014 10 reasons to be hopeful that we will overcome climate change

theguardian.com - Bloomberg New Energy Finance estimates that by 2030 spending on renewable energy sources could make up two thirds of a global energy spend of US$7.7 trillion. Oil and gas companies are finding it increasingly...

July 30, 2014 White House Pushes Financial Case for Carbon Rule

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WASHINGTON — Failing to adequately reduce the carbon pollution that contributes to climate change could cost the United States economy $150 billion a year, according to an analysis by the White House Council of Economic Advisers...

July 30, 2014 Virtual Water Shortage By 2040

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Two new papers postulate that there will be a water crisis by 2040. Not because of population, but because of current energy and power solutions. And they believe solar and wind power is the only answer. In most countries,...

July 30, 2014 Solar Activity - Not CO2 - Could Cause Global Warming, New Paper Says

Source: Breitbart.com

The impact of carbon dioxide on climate change may have been overstated, with solar activity giving a better explanation of changes in the Earth's temperature, according to Chinese scientists.

July 30, 2014 The economic risk of climate change

Property Casualty 360 - As highlighted in the latest îIntergovernmental Panel on Climate Changeî (IPCC) report, the current state of knowledge on climate science, and hence current and future changes solely in the...

July 30, 2014 U.S. EPA kicks off hearings on power plant emissions rules

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The Environmental Protection Agency launched public hearings on Tuesday on its proposal to slash carbon emissions from the country's power plants, and interested groups ranging from coal miners to senators made their views known.

July 29, 2014 General Mills sees the big picture on climate change

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July 29, 2014 All wet: USA's top 10 cities for 'nuisance' flooding

USA Today - according to last year's Fifth Assessment Report by the United Nations' îIntergovernmental Panel on Climate Changeî. Here are the 10 U.S. cities with the greatest percentage increases in "nuisance"...

July 29, 2014 Delaying climate action will carry heavy economic cost, White House warns

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The White House has warned that delaying action on climate change would carry a heavy price, racking up an additional 40% in economic losses from climate impacts and other costs over the course of 10 years. White House officials...

July 29, 2014 Climate Change A Greater Threat To Global Food Production Than Previously Thought: MIT Researchers

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Climate change could pose an even greater threat to global food production than previously thought, according to new research. Rising temperatures will not only damage heat-sensitive crops – they’ll also increase toxic air...

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