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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

July 16, 2014 Red States Are Way Ahead of Congress on Global Warming

Source: Huff Post

Congress is more deeply divided today than it has been in the last two decades on a wide range of issues, including global warming. In the Senate, for example, Oklahoma Republican James Inhofe routinely fulminates that it's a...

July 16, 2014 California Drought Cuts Water for Farming to Record Lows

Source: Bloomberg

The severe drought in California is threatening more than $800 million in crop revenue as water needed for farming is at record lows, according to a report.

July 16, 2014 Human influence dominant cause of climate warming

Journal Online - These two statements were the most significant key findings in the Fifth Assessment Report of the îIntergovernmental Panel on Climate Changeî (IPCC), as conveyed by the international climate experts...

July 16, 2014 Texas Or Bust

Ag Web - America's drought continues to expand, and its impact on the nation's cow herd can't be exaggerated. By our calculations, at least 65% of America's cows are in state's currently experiencing widespread moderate to...

July 16, 2014 Calif. OKs $500 fines for wasting water

Source: USA Today

California water regulators Tuesday approved fines for washing cars, watering lawns or hosing down sidewalks after revised figures showed that residents have increased consumption despite calls for big cutbacks amid the state's...

July 15, 2014 The Latest Climate Change Denial Fact Twisting

Source: Forbes

A new report from libertarian think tank Heartland Institute claims that new government data debunks the concept of global climate change. However, an examination of the full data and some critical consideration shows that the...

July 15, 2014 How Climate Change Changed Me

Source: Politico

When I learned that the New York Times was planning to report on my time as an investor at Farallon Capital Management, I wanted to sit down with the reporter while I was in New York City to discuss the issue in person—and on the...

July 15, 2014 8 charts that show how climate change is making the world more dangerous

Source: The Guardian

Forget the future. The world already is nearly five times as dangerous and disaster prone as it was in the 1970s, because of the increasing risks brought by climate change, according to a new report from the World Meteorological...

July 15, 2014 FT series: A world without water

Source: FT.com

In the first instalment of a series on the threat of water scarcity, Pilita Clark describes the cost to companies

July 14, 2014 Southern Australia faces water crisis by end of century due to climate change

Source: The Guardian

A predicted 40% decline in rainfall in southern Australia could mean that the West Australian capital, Perth, will have to rely on alternative sources of water in future, a new climate change research paper warns. The study, led...

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