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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 19, 2014 Humans blamed for melting glaciers in new study

techtimes.com - They employed "state-of-the art modeling techniques, relying on 12 climate models. The reports analyzed were from the îIntergovernmental Panel on Climate Changeî. It's a group of climate-change experts...

August 19, 2014 UK lobbying to keep open one of Europe's dirtiest coal power stations

Source: The Guardian

The UK government is lobbying the European commission (EC) to keep open one of Europe’s dirtiest coal power stations, even though its nitrogen oxide (NOx) emissions exceed new legal limits by five times.

August 19, 2014 The Crisis in Clean Drinking Water

Source: Care2.com

According to the World Health Organization, the shortage of sanitary drinking water is one of the leading causes of disease and death in the world today. Children are especially hard hit by the lack of this staple for survival....

August 19, 2014 Henry calls water crisis life-changing (Toledo)

Source: The Blade

The man who will oversee the $264 million campaign to upgrade Toledo’s water treatment plant called the recent water crisis a shocking event that destroyed the community’s faith in the quality of the local water.

August 19, 2014 Globe sees fourth warmest July on record; Oceans tie for warmest July

Source: Washington Post

The average global temperature in July was the fourth highest on record for any July since records began in 1880, according to NOAA. This is after two months of record warm global temperature in May and June. So far, 2014 is the...

August 18, 2014 As Climate Changes, 'Underwater Mortgage' May Take on New Meaning

Source: Bloomberg

Looking to buy a house? That’s great, unless you’re in your 20s and 30s and regularly read climate reports. They tend to project dramatic changes to the climate over the next 50 years, and given that current life expectancy is...

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...

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