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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

April 16, 2015 Obama's Climate Change Plan Faces High-Profile Legal Test

Source: NBC Bay Area

The centerpiece of the Obama administration's effort to tackle climate change is facing a high-profile legal test as a federal appeals court considers a plan that has triggered furious opposition from Republicans, industry...

April 15, 2015 UAE research programme for increasing rain evokes interest

The National - The grant programme was among a number of UAE initiatives showcased at the World Water Forum in Daegu and Gyeongbuk, South Korea. Yesterday, Ms Al Mazroui addressed delegates in a special session at the forum. The...

April 15, 2015 Too Much Carbon Dioxide May Have Caused Earth’s Worst Mass Extinction

Source: Think Progress

So much for carbon dioxide being a “harmless” gas. The worst mass extinction in Earth’s history may have been caused by huge amounts of carbon dioxide that accumulated in the atmosphere and the ocean after colossal volcanic...

April 15, 2015 Why Is The US West Drying Out? The Answer May Lie In The Pacific Ocean

Source: Tech Times

The droughts afflicting states in the Western U.S., as well as a general drying out that began with the turn of this century, has its roots even further west — in the winds of the Pacific Ocean, researchers say.

April 14, 2015 Hillary Clinton May Take Strong Stance on Global Warming

Source: Scientific America

Over the past year, she has toughened her rhetoric against climate science-denying Republicans and recently brought on former White House adviser John Podesta, architect of Obama's climate strategy, to run her campaign.

April 14, 2015 Scrap fossil fuel subsidies now and bring in carbon tax, says World Bank chief

Source: The Guardian

Poor countries are feeling “the boot of climate change on their neck”, the president of the World Bank has said, as he called for a carbon tax and the immediate scrapping of subsidies for fossil fuels to hold back global warming.

April 14, 2015 Keep it in the ground: why this is a matter of basic ethics

Source: The Guardian

If the purpose of your existence is to make the world a better place, why would you invest billions of dollars in companies that make the greatest contribution to global climate change? That’s the simple question behind the...

April 14, 2015 Floods & Drought Amid Climate Change Cost Global Economy Billions: Oxford

Insurance Journal - According to the report from the University of Oxford published at the start of the îWorld Water Forumî in Korea, South Asia has the largest concentration of water-related risks. East and Southeast...

April 14, 2015 Dutch government in court over failure to act on climate change

Expatica - This is the target developed by the îIntergovernmental Panel on Climate Changeî. The reduction is needed to create a 50 percent chance of avoiding a dangerous two Celsius rise in global temperatures, the...

April 14, 2015 China to surpass U.S. as top cause of modern global warming

Source: Reuters

China is poised to overtake the United States as the main cause of man-made global warming since 1990, the benchmark year for U.N.-led action, in a historic shift that may raise pressure on Beijing to act.

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