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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
October 19, 2015 Gov. Brown's link between climate change and wildfires is unsupported, fire experts saySource: LA Times
The ash of the Rocky fire was still hot when Gov. Jerry Brown strode to a bank of television cameras beside a blackened ridge and, flanked by firefighters, delivered a battle cry against climate change.
This past week Toyota said it plans to all but eliminate gasoline-based cars by 2050. Tesla is about 35 years ahead of that goal.
October 19, 2015 Rich nations lag in 'fair share' of climate action - studySource: Reuters
The United States and other rich nations are doing less than their fair share to fight climate change under a U.N. accord due in December while China is outperforming, a report by 18 civil society groups said on Monday.
October 16, 2015 Oil bosses fight 'bad guy' image ahead of climate talksSource: Reuters
Oil and gas industry bosses called for an "effective" agreement at the United Nations climate change summit in December, recognizing that current greenhouse gas emissions were inconsistent with the goal of limiting global warming.
October 16, 2015 Britain's water crisisSource: The Guardian
The immediate cause of the early drying out at the source of the Ouse was simply that there was not enough water in the underground aquifer on which it feeds. But that turns out to be part of something bigger.
October 16, 2015 Can Nations Reach a Strong Agreement at COP 21?Source: Reuters
Scientists agree: we need to reduce our greenhouse gas emissions drastically in the next decade if we are to avoid the worst ravages of climate change. World governments agree: the way to do that is to forge a global agreement at...
October 15, 2015 Americans’ Denial of Climate Change Hits Record Low, Survey FindsSource: Time
Only 16% of Americans believe there is not enough evidence to prove global climate change is real, the lowest percentage since a survey began asking the question in 2008.
October 15, 2015 Commercial boost for firms that suck carbon from airSource: Nature
It has long been regarded as one of the more blue-skies solutions to climate change. Now two companies have vastly increased their capability to suck carbon dioxide from the air. One, based in Canada, plans to convert captured...
October 14, 2015 Something fishy: How climate change reaches into the oceanSource: CS Monitor
As global temperatures rise, the resulting ocean acidification and warming may hurt the diversity and population of fish species across the globe, say researchers.
October 14, 2015 Rising seas to displace millions of Americans if warming uncheckedSource: Reuters
TORONTO – Millions of people in the United States could be forced to abandon their homes if planet-warming emissions continue unabated through 2100, pushing global sea levels up by more than 14 feet (4.2 metres), researchers said.
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