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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

November 14, 2014 Coal Weakened by Greening U.S. Economy

Source: Zacks

Coal has played a vital role in the industrialization of the western economy. The fossil fuel came to be widely used during the Industrial Revolution in England in the 18th century. This quickly spread to America in the 1800s as...

November 14, 2014 Global warming to cause 50% increase in lightning strikes across the U.S.: Study

Source: Mashable

A new study published Thursday in Science Magazine shows that the frequency of lightning flashes across the U.S. could increase by 50% during the course of this century, due to manmade global warming. This means that for every...

November 14, 2014 Fracking no 'silver bullet' for emissions cuts or energy security

Source: The Guardian

There are no scientific or technical grounds to ban fracking in Europe but it will not be a “silver bullet” to improve energy security or cut emissions, European science academies have said.

November 13, 2014 Why the U.S.-China Emissions Pact Could Be a Climate Change Breakthrough

Source: BusinessWeek

Before President Barack Obama and other world leaders arrived in Beijing, environmentalists and others concerned about climate change had reason to be doubtful about the meeting. First, China’s government tried to turn the...

November 12, 2014 Sinking Jakarta Starts Building Giant Wall as Sea Rises: Cities

Source: Bloomberg

If you worry that rising sea levels may one day flood your city, spare a thought for Michelle Darmawan. Her house in Jakarta is inundated several times a year -- and it’s 3 kilometers (1.9 miles) from the coast.

November 12, 2014 China, US agree limits on emissions, but experts see little new

Source: Reuters

BEIJING- China and the United States agreed on Wednesday to new limits on carbon emissions starting in 2025, but the pledge by the world's two biggest polluters appears to be more politically significant than substantive.

November 12, 2014 Global Warming Makes Marine Dead Zones Worse, Study Says

Source: Weather.com

A new study says that scientists underestimated the effects global warming is having on dead zones in bodies of water across the world. When fertilizer runoff is introduced into a body of water, it brings added nutrients like...

November 11, 2014 Climate change could increase UK risks of overseas conflict

Responding To Climate Change - The culmination of six years of work, that report by the îIntergovernmental Panel on Climate Changeî concluded it was still possible to limit global temperature rise to 2C. But on...

November 10, 2014 The 29 Most Important Things To Know About Climate Change

The Business Insider - The results are in. On Nov. 2 the United Nations îIntergovernmental Panel on Climate Changeî released its final report crystallizing 13 months of work by more than 800 scientists. The "synthesis...

November 10, 2014 If capitalism is the cause of climate change, then what's the solution?

Source: The Week

What are the causes of climate change? That may sound like a simple question to answer: carbon emissions, duh. But when we think of the ur-culprit of climate change, we would have to point the finger at a global economic system...

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