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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

September 14, 2017 Eight dead at Hollywood nursing home where Hurricane Irma knocked out air conditioning

Source: Sun Sentinel

Eight people died in a Hollywood, Florida, nursing home that had no air conditioning after Hurricane Irma knocked out power.

September 13, 2017 Anxious residents begin returning to battered Florida Keys

Source: CNN

Around 7 a.m. ET, police began letting residents back into the ravaged island chain. Upon leaving the Florida mainland, Key Largo is the first town in what is known as the Upper Keys, the easternmost third of the island chain...

September 13, 2017 Hurricane Irma: Trump to view damage on Florida visit

Source: BBC

US President Donald Trump will travel to Florida on Thursday to survey the damage caused by Hurricane Irma as it tore through the state.

September 13, 2017 ‘They don't have food or water’: Caribbean islands need supplies after Hurricane Irma

Source: Miami Herald

While most tourists have been evacuated, the people remaining on the Caribbean islands wrecked by Hurricane Irma are in “dire need” of water, food and shelter.

September 12, 2017 Irma Weakens to Tropical Storm as Florida Damage Forecast Is Cut

Source: Bloomberg

Hurricane Irma weakened as it moved past Tampa on Monday, leaving in its wake a state that avoided the worst predictions of its destruction by sea and storm. By one estimate, the cost of total damages dropped to $49 billion from...

September 12, 2017 More than 12 million without power in Florida as Hurricane Irma’s effects linger

Source: Washington Post

MIAMI — As Hurricane Irma dissipated into a tropical storm on Monday, Florida’s residents emerged to streets littered with debris and downed trees while nearly two-thirds of the state was left without electricity.

September 12, 2017 This is how much of your life air pollution is stealing from you based on where you live

Source: Quartz

Air pollution is the single largest environmental health risk humans face, according to the World Health Organization, but what does that mean for you? Researchers have put together a map based on new findings that show,...

September 12, 2017 Harvey and Irma to Slow US Economy but Rebound Should Follow

Source: US News

WASHINGTON — With businesses disrupted, fuel and chemical refineries out of commission and consumers struggling to restore their lives, Hurricanes Harvey and Irma will likely pack a tough double-whammy for the U.S. economy.

September 12, 2017 VW CEO vows to offer electric version of all 300 models by 2030

Source: Seattle Times

The world’s largest automaker is accelerating the shift away from combustion engines as it tries to move beyond the emissions-cheating scandal.

September 12, 2017 Coffee, Bees and Climate Change Are Linked In Ways You May Not Have Expected

Source: NPR

Pollinators such as bees play a key part of producing the beans that go into your morning cup of coffee.

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