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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

December 4, 2014 How to calculate the impact of carbon emissions

forumblog.org - It's one of the most important questions we all face. It lies at the heart of the Intergovernmental Panel on Climate Change's 5th report on climate science, which appeared in 2013. The lead author of the report,...

December 4, 2014 Drought in U.S. and Brazil Linked to Hottest Year Ever

Businessweek - âThe world is going in the wrong direction,â said Jennifer Morgan, director of the climate program at the îWorld Resources Instituteî, who has been tracking the talks for two decades....

December 4, 2014 World Climate Talks In Lima Aim To Move Beyond Kyoto Treaty

Source: NPR

Every year the United Nations invites environmental experts and diplomats from around the world to negotiate ways to slow global warming. This year's meeting runs this week and next in Lima, Peru.

December 3, 2014 Developing nations urge deeper climate cuts to zero emissions

Source: Reuters

Developing nations called on the rich on Tuesday to do more to lead the fight against climate change in line with scientific findings that global greenhouse gas emissions should fall to net zero by 2100 to avert the worst impacts.

December 3, 2014 Much-needed rain drenches California, but hardly puts dent in drought

Source: Washington Post

A vigorous storm system off of California’s Pacific coast is pumping streams of moisture inland, depositing welcome rain in the drought-afflicted state.

December 3, 2014 Oil Investors May Be Running Off a Cliff They Can’t See

Source: Bloomberg

A major threat to fossil fuel companies has suddenly moved from the fringe to center stage with a dramatic announcement by Germany’s biggest power company and an intriguing letter from the Bank of England

December 2, 2014 Research confirms how global warming links to carbon emissions

Source: PHYS.org

Research by the University of Liverpool has identified, for the first time, how global warming is related to the amount of carbon emitted.

December 2, 2014 Stakes high as Peru climate change conference lays foundation for pivotal 2020 accord

Source: Business Day Live

The decisions to be made in Lima will have significant implications, not only for national sovereignty, but for the development paths countries can or will pursue.

December 2, 2014 Heed the Warnings: Why We’re on the Brink of Mass Extinction

Source: The Daily Beast

The potential losses of species are on a scale that is rivaled by only a few events in the last 500 million years of Earth’s history. Five times during that span, the majority of species on the planet vanished in a short interval...

December 1, 2014 Geoengineering Doesn’t Provide ‘Magic Bullet’ for Global Warming

Source: Bloomberg

Geoengineering, which includes spraying sea salt or sulphate aerosols into the atmosphere to reflect sunlight, won’t provide a “magic bullet” to combat climate change, a University of Oxford study shows.

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