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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

March 2, 2017 Snowpack levels surge in the Sierra Nevada, helping to power California out of drought

Source: LA Times

As of Wednesday, the average snowpack across the entire range was at 185% of normal conditions for the first day of March and at 163% of the April 1 average, the Department of Water Resources said. On the same date in 1983, the...

March 2, 2017 Antarctica hits record high temperature at balmy 63.5°F

Source: Reuters

An Argentine research base near the northern tip of the Antarctic peninsula has set a heat record at a balmy 63.5° Fahrenheit (17.5 degrees Celsius), the U.N. weather agency said on Wednesday

March 2, 2017 Trump poised to lift federal coal ban, other green rules: White House

Source: Reuters

U.S. President Donald Trump will target a handful of Obama-era green regulations, including a federal coal mining ban and an initiative forcing states to cut carbon emissions, in an executive order as soon as next week, a White...

March 2, 2017 Climate scientists say likelihood of extreme summers surging (Australia) due to global warming

Source: The Guardian

New South Wales, which has just experienced its hottest summer on record, is 50 times more likely to experience another similarly hot summer and 10 times more likely to experience extremely hot days under climate change,...

March 1, 2017 A Carbon Tax Gains Traction Among Some Conservatives

Source: NPR

Beyond tax proposals from the Trump administration and the House GOP leadership, there's a long-shot idea that's received recent attention — a carbon tax. Simply put, that means setting a price on carbon to encourage energy...

March 1, 2017 With Climate Change, California Is Likely To See More Extreme Flooding

Source: NPR

Californians are in shock that after five years of too little water, the problem now is too much.

March 1, 2017 New maps show the Midwest is the biggest climate change denier but the rest of America now believes in man-made climate change

Source: Dalyl Mil (UK)

The majority of America may finally believe in man-made climate change. But as these new maps show, there are still states who believe global warming caused by humans is a myth.

February 28, 2017 The Greening of the Republicans?

Source: Barron's

Now that the U.S. has a new abundance of domestic oil and natural gas, what could be more natural than to tax it? As Ronald Reagan sarcastically summed up traditional government policies, “If it moves, tax it. If it keeps moving,...

February 28, 2017 Warren Buffett says global warming is not impacting the way Berkshire writes insurance

Source: CNBC

Berkshire Hathaway CEO Warren Buffett on Monday said he has not yet seen sufficient evidence that climate change is affecting weather events to a degree that would make him change the way his conglomerate's insurance businesses...

February 28, 2017 Shell's 1991 warning: climate changing ‘at faster rate than at any time since end of ice age’

Source: The Guardian

Climate change “at a rate faster than at any time since the end of the ice age – change too fast perhaps for life to adapt, without severe dislocation”. That was the startling warning issued by the oil giant Shell more than a...

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