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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 23, 2015 Will California's drought affect hydroelectric power?

Source: CS Monitor

For California, now in its fourth year of drought, the record low snowfall, in addition to the lack of rain, is beginning to hamper the state’s supply of hydroelectric energy. This winter California received only 12 percent of...

March 20, 2015 FactCheck: is global warming intensifying cyclones in the Pacific'

THE CONVERSATION - When asked for evidence to support her statement, a spokesperson for Senator Milne referred to a 2013 îIntergovernmental Panel on Climate Changeî (IPCC) report that said that âprecipitation...

March 20, 2015 Flat CO2 Emissions Not Enough to Curb Climate Change, Experts Say

Live Science - It would take about 100 years for the amount of carbon dioxide in the atmosphere to reduce to 37 percent of current levels, according to the îIntergovernmental Panel on Climate Changeî (IPCC). This...

March 20, 2015 Business leaders call for low carbon EU energy union

Responding To Climate Change - One fifth of the pipeline is in high carbon sectors such as coal, oil and airports. The îInstitutional Investors Group on Climate Changeî said there must be robust sustainability...

March 20, 2015 California Announces $1 Billion Emergency Drought Relief Package

Source: Time

Gov. Jerry Brown and a bipartisan group of state lawmakers attempted to deliver some form of it Thursday when they announced a $1 billion plan to provide immediate relief and stave off future problems.

March 20, 2015 5 Ways to Reduce the Drivers of Climate Change

Source: World Bank PR

World Bank Group President Jim Yong Kim gave a lecture at Georgetown University on March 18, 2015, about the development challenges created by climate change and actions that can be taken now to reduce the drivers of climate...

March 20, 2015 Demonstrators march with empty buckets protesting water shortages

IPP Media - The demonstrations come in the backdrop of yesterdayâs launch of the îWorld water weekî that is been observed nationally in Musoma. With water buckets on their heads, the demonstrators demanded an...

March 19, 2015 More than 10,000 people call on Dutch pension fund to divest from fossil fuels

Source: Reuters

More than 10,000 people have called on the fifth largest pension fund in the world to divest from oil, coal and gas. Members of the Dutch pension fund ABP handed over a petition to the fund’s managers on Tuesday asking them to...

March 19, 2015 Eiffel Tower shrouded in smog as Paris pollution spikes

Source: The Guardian

The Eiffel Tower disappeared behind a brown smog on Wednesday as Paris and much of northern France suffered a spike in pollution.

March 19, 2015 Want less carbon dioxide in the air you breathe? It's going to cost you, how much depends on who you voted for

Source: Cleveland.com

COLUMBUS, Ohio -- The battle over clean air, including air containing less carbon dioxide, is being waged here before a little-noticed special study committee that was supposed to be looking at something else.

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