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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

August 18, 2014 China's carbon plans: secrecy and oversupply

Source: CNBC

As China lays down plans for a national carbon trading scheme, the world's biggest emitter of greenhouse gases risks repeating mistakes made in carbon trading in Europe by flooding its pilot markets with free permits.

August 18, 2014 West’s historic drought stokes fears of water crisis

Source: Washington Post

Now, across California’s vital agricultural belt, nervousness over the state’s epic drought has given way to alarm. Streams and lakes have long since shriveled up in many parts of the state, and now the aquifers — always a backup...

August 15, 2014 How to Stop Tax Inversions With a Carbon Levy. Seriously

Source: Bloomberg

President Obama and legislators are embroiled in a debate over whether and how to punish companies that seek U.S. tax relief by buying a smaller foreign company and legally reincorporating in its country. So-called tax inversions...

August 15, 2014 New Research Links Extreme Weather to Global Warming

Source: Slate

If you live in some parts of the Northeast United States,* you just experienced two months’ worth of summer rain falling in less than a single day. Of course, if you do live in the swath of the country from Detroit to New York...

August 15, 2014 Shareholder resolutions prompt multinationals to set greenhouse gas targets

Source: IR Magazine

A series of 150 climate-related resolutions by institutional investors prompted 20 large US-based multinational companies to commit to reducing greenhouse gas emissions or obtaining sustainably produced palm oil in the 2014 proxy...

August 15, 2014 We're the Great Lakes state; why are we having water shortage emergencies?

Source: Mlive.com

A deep freeze in the Upper Peninsula. Algae in Lake Erie. A water main leak in Bay City. In 2014, citizens in several regions of the Great Lakes state have had trouble accessing, of all things, clean, fresh water. Clean Water...

August 15, 2014 Antarctic Melt May Lift Sea Level Faster in Threat to Megacities

Source: Bloomberg

Antarctica glaciers melting because of global warming may push up sea levels faster than previously believed, potentially threatening megacities including New York and Shanghai, researchers in Germany said. Antarctica’s ice...

August 14, 2014 EPA's State-by-State Carbon Limits Indicate Smart Policy, Not Arbitrary Rulemaking

Source: Forbes

In June, U.S. Environmental Protection Agency (EPA) announced – for the first time ever – standards to limit carbon emissions from U.S. power plants, known as the Clean Power Plan (CPP). Currently power plants emit 40 percent of...

August 14, 2014 Lawmakers in drought-hit California finally agree on water plan

Source: Reuters

A deal was reached late Wednesday in drought-stricken California on a plan to improve water supplies that was mired in regional and party politics for a year, Republican leaders said. The legislature scheduled a vote Wednesday...

August 14, 2014 How to Talk About Climate Change So People Will Listen

Source: The Atlantic

Environmentalists warn us that apocalypse awaits. Economists tell us that minimal fixes will get us through. Here's how we can move beyond the impasse.

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