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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
September 24, 2014 Climate Change Will Be Solved in Cities--Or Not at AllSource: Scientific America
In the 1980s, the Chinese city of Shenzhen had some 300,000 mostly impoverished inhabitants. Today that city, the first to experience China's reforms and economic opening, has more than 15 million residents and also hosts another...
September 24, 2014 Drought Worsens China's Long-Term Water CrisisSource: ABC News
The corn has grown to only half its normal height on Yan Shuqin's ranch in the hills of Inner Mongolia this year, as a swath of northern China suffers its worst drought in 60 years.
September 24, 2014 Climate Change, Superstorms and The Subway: Is New York City Prepared?Source: Huff Post
The New York City transit system received a huge influx of passengers for the People's Climate March, organized by 350.org, an environmental organization led by a group including author Bill McKibben. Over 400,000 people...
September 24, 2014 U.S. Clean Air Act cited as big first step in emissions control
McClatchy DC - Alistair Woodward, who was the coordinating lead author of the health chapter in the fifth assessment report by the îIntergovernmental Panel on Climate Changeî, told McClatchy that two years of...
September 24, 2014 The climate has changed: 3 ways your company can act now
Green Biz - The collaboration includes BSR, CDP, Ceres, îThe Climate Groupî, The Prince of Wales Corporate Leaders Group, the World Business Council for Sustainable Development and the B Team. We Mean Business urges...
September 24, 2014 UN climate change summit: China pledges emissions cutsSource: BBC News
China has pledged for the first time to take firm action to tackle climate change, telling a UN summit it aims to make deep emissions cuts by 2020. Vice-Premier Zhang Gaoli said China's carbon emissions - the world's highest -...
Source: Christian Science Monitor
At a UN Climate Summit in New York Tuesday, President Obama said the US was beginning to take action to fight climate change, but must do more. Mr. Obama called on the international community to make strong commitments on clean...
September 23, 2014 Lew: Climate change hits all sectors of economySource: The Hill
Treasury Secretary Jack Lew said that every sector of the economy is threatened by climate change, calling it "one of the most important challenges of our time."
September 23, 2014 Study says natural factors, not humans, behind West Coast warmingSource: Seattle Times
The rise in temperatures along the West Coast over the past century is almost entirely due to natural forces — not human emissions of greenhouse gases, according to a major new study. But that doesn’t refute the idea that humans...
September 23, 2014 NY requires agencies to consider extreme weatherSource: SF Gate
New York state agencies are required to consider the future likelihood of extreme weather in their decisions on public works projects, industrial and commercial permits and regulations, according to a new law signed Monday.
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