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HOT TOPIC: Global Warming and Climate Change, Global Warning Information, UpdatesGlobal Warming and Climate ChangeInstitutional 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. Comments from Accountability-Central Users
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Latest on Global Warming and Climate ChangeMarch 10, 2010 China tells US to do more on climate changeSource:APBEIJING — China told the United States on Wednesday to make stronger commitments on climate change and provide environmental expertise and financing to developing nations. At the same time, China said its own efforts to reduce... March 10, 2010 For Senators on the Fence on Climate, Everything's in Play
Source:NY Times
The fate of comprehensive energy and climate legislation rests in the hands of about 30 senators. The list includes coal and Rust Belt Democrats, Westerners and moderate Republicans. They bring several high-profile issues to the... March 9, 2010 The Climate-Change Debate -- Coming to a Shareholder Meeting Near You
Source:BNET
Shareholders are increasingly worried about how climate change — and regulation aimed at stopping it — will effect the profitability and long-term growth of the companies they’ve invested in. And now, thanks to new SEC rules,... March 9, 2010 Cool it on efforts against new rules, EPA chief asks
Source:Houston Chronicle
WASHINGTON — The head of the Environmental Protection Agency on Monday pushed back against lawmakers' attempts to halt the EPA's regulation of greenhouse gases from power plants, refiners and other industrial facilities. EPA... March 8, 2010 After errors, global warming gets a cold shoulder
Source:Boston Globe
A series of highly publicized errors in a landmark report about manmade global warming - and lingering controversy over hacked e-mails between climate scientists - is eroding public confidence in the research and could further... March 8, 2010 Climate change science: the evidence is clearSource:ABC - AUThis afternoon ABC Science broadcaster Robyn Williams delivered the 2010 Commonwealth Day address at a lunch organised by the Commonwealth Day Council of NSW at the NSW Parliament. The theme was Science, Technology and Society.... March 6, 2010 Three States Sue EPA Over Global Warming Ruling
Source:Fox News
The bitterly contested fight in Washington over global warming and pollution is also taking hold at the state level. The Environmental Protection Agency, which is threatening to regulate carbon emissions if Congress won’t, is... March 5, 2010 Congress Proposes to Suspend EPA's Greenhouse Gas Regulatory PowerSource:Environment News ServiceWASHINGTON, DC, - Senator Jay Rockefeller today introduced legislation to impose a two-year moratorium on the Environmental Protection Agency's ability to regulate greenhouse gases from power plants and other stationary... March 5, 2010 SEC Climate Change Guidlines Lead to Record Numbers of Shareholder Resolutions
Source:Triple Pundit
If recent talk about climate change hasn’t already rattled every CEO’s corporate cage, then yesterday’s news regarding shareholder resolutions should do the trick. It was announced during a phone-based news conference today that... March 4, 2010 Let's Talk About It: Discussing the Science and Politics of Global WarmingSource:New York TimesWhat have you heard about global warming in the news lately? Is the scientific evidence for global warming in question? Are politicians and world leaders doing enough to curb carbon emissions? What does this winter’s unusually... |
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