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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 28, 2014 We'll wage wars over water, say experts

Source: ABC

The risk of wars being fought over water is rising because of explosive global population growth and widespread complacency, an international conference has heard. "We have had oil wars," said Professor William Mitsch of Ohio...

July 25, 2014 Cities, businesses, working to manage climate risk

Source: Reuters

The world is nearly five times more disaster prone than it was four decades ago due to climate change, according to the latest study from the World Meteorological Association. In cities, where the United Nations says climate...

July 25, 2014 Western Inferno: Climate Change Worsening Wildfire Risk

Environment News Service - âWe started to see the fire season kick in this winter, and the wildfire season is two-and-half months longer than it used to be,â said Senator Wyden during the conference call hosted by the...

July 25, 2014 Canadians Stand Up To Help Water-Shutoff Crisis In Detroit - video

Source: News One

Detroiters without running water have a special delivery coming from Canada, if it can get past the border guards. Eight cars loaded with 264 gallons of Canadian tap water is scheduled to caravan through the Detroit-Windsor...

July 25, 2014 Western US water crisis worse than thought

Source: Telegraph

The water crisis in the south west of the US is likely to worsen according to a new study carried out by the American space agency and University of California. Research has found that the Colorado River Basin, the prime source...

July 24, 2014 German Coal Power Plants Are Europe’s Most Climate-Damaging

Source: Bloomberg

Germany has some of Europe’s most ambitious climate targets. It also has four of the region’s five dirtiest power plants. While PGE SA’s Belchatow lignite unit in Poland was Europe’s dirtiest last year, with 37.2 million metric...

July 24, 2014 Pennsylvania Regulator Faulted for Lax Role in Fracking

Source: Bloomberg

Pennsylvania regulators were unprepared for the fracking-fueled boom in natural gas production during the past decade, putting drinking water supplies at risk, the state’s watchdog said. The state’s Department of Environmental...

July 24, 2014 Grazing Crops to be Aided by Rising Temperatures

Nature World News - According to reports released by the îIntergovernmental Panel on Climate Changeî (IPCC), the world is due for an overall temperature hike of about 2 degrees Celsius (35.6 Fahrenheit) by 2050. And...

July 24, 2014 EPA chief in hot seat as lawmakers dissect carbon rule

Source: Reuters

U.S. Environmental Protection Agency Administrator Gina McCarthy will field questions from lawmakers on Wednesday about the agency's plan to slash carbon pollution from power plants, even as industry groups seek to derail the...

July 23, 2014 Water, super-sewers and the filth threatening the River Thames

Source: The Guardian

"Water is the giver of life," says the great-great-grandson of the engineer who revolutionised London's sewerage system. "That's why people always ask if there's water on Mars to support life. But it is also bringer of death, as...

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