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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 12, 2016 Investors with $6 trillion in assets back ExxonMobil climate change resolution: UK Church fund

Source: Reuters

Institutions managing $6 trillion in assets plan to back a call for U.S. oil major ExxonMobil to disclose the impact of climate change policy on its business, one of the organizers of the vote said On Tuesday.

April 12, 2016 World leaders to sign Paris climate agreement on Earth Day

Source: Ecology

This year, in a rare and special event, United Nations Secretary General Ban Ki-moon has invited every world leader to the United Nations to officially sign the Paris Climate Agreement reached this past December. It is no...

April 11, 2016 Nations seek rapid ratification of Paris climate deal, four-year lock

Source: Reuters

Many nations are pushing for swift ratification of a Paris agreement to slow climate change and lock it in place for four years before a change in the White House next year that might bring a weakening of Washington’s long-term...

April 11, 2016 California Drought Status 2016: El Nino Won’t Stop Record Water Shortage, Experts Say

Source: IBTimes

The El Niño weather phenomenon, which has sent rain and snowstorms to California in 2015 and 2016, hasn't solved the state's record drought, experts said. While the water level in some reservoirs has increased in this period,...

April 11, 2016 Climate Change Causes the Earth’s Axis to Shift

Source: Nature World News

Climate change has long been considered a threat to human beings, but a new study showed that climate change also affects how the Earth tilts its axis in an interesting and harmless way.

April 11, 2016 Report highlights environmental dangers of leaving EU

Source: The Guardian

EU membership has been a major factor behind the “marked improvement in environmental quality in the UK” since the 1980s, according to an independent report into the potential impact of a leave vote in the June referendum

April 11, 2016 There are still far too many unanswered questions and dodgy data being used in the greenhouse gas debate

Newcastle Herald - The scary forecasts of runaway heating are based on complicated but narrowly-focussed carbon-centric computerised global circulation codels built for the UN Intergovernmental Panel on Climate Change (IPCC)....

April 11, 2016 Water in IR Communications Today

Source: Alphasense- Pamela Styles, principal, Next Level Investor Relations LLC

Water is a prominent “Hot Topic” in the rapidly evolving ESG / Sustainability field. I recently used AlphaSense to look for evidence of its current impact on traditional Investor Relations (IR) communications to the broader...

April 8, 2016 Is Climate Change Making Wildfire Seasons Worse'

The Weather Channel - Since the 1980s, the number of large wildfires has nearly doubled, according to information compiled by the Union of Concerned Scientists. It's getting to the point where the national average is nearly one...

April 8, 2016 Israeli water solutions can help world, author says at Cal Poly

San Luis Obispo Tribune - Water innovations will save lives and make a better future for our children. Siegel, a member of the Council on Foreign Relations, has published essays in The New York Times, Wall Street Journal and the...

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