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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

November 20, 2017 Fiji to move more than 40 villages inland as seas rise

Source: Reuters

BONN, Germany– Fiji plans to move more than 40 villages to higher ground to escape coastal floods and is also working on ways to help future migrants from other Pacific island nations as sea levels rise, Fiji’s attorney general...

November 20, 2017 Oil giants unlikely to share coal’s fate, for now

Source: Hellenic Shipping News

The Norwegian sovereign wealth fund’s proposal to ditch its oil and gas shares, though hugely symbolic in the battle against climate change, is unlikely to cause a rush to the exit by major investors in the sector in the short...

November 20, 2017 Bloomberg View: Germany needs to stop burning so much coal

Source: Watertown Daily Times

By 2020, according to an analysis by Bloomberg New Energy Finance, this should triple the price of carbon to 24 euros a ton — high enough to push all European countries away from coal. If Merkel acts on the proposal to...

November 20, 2017 First-of-Its-Kind Satellite Launches to Track Earth's Weather Like Never Before

Source: Space.com

lThe first in a series of four advanced polar-orbiting satellites launched to space on its third try early Saturday (Nov. 18), turning its watchful eye to improving the accuracy of weather forecasts and Earth observations.

November 17, 2017 At least 15 states join global alliance to phase out coal by 2030

Source: Reuters

BONN, Germany- At least 15 countries have joined an international alliance to phase out coal from power generation before 2030, delegates at U.N. climate talks in Bonn said on Thursday.

November 17, 2017 'Modern air is too clean': the rise of air pollution denial

Source: The Guardian

US sceptics are questioning the science behind air pollution and mortality, a trend that is starting to appear in countries where the air is much more toxic

November 17, 2017 Norway's state fund 'needs to drop oil and gas investments'

Source: BBC

Norway's government has been told its state-run fund should drop its investments in oil and gas stocks.

November 16, 2017 This group thinks Trump hasn’t done enough to unravel environmental rules. Here’s its wish list.

Source: Washington Post

The activists gathered behind closed doors in a Houston hotel meeting room last week had long existed on the political fringe. They’d dismissed the science behind climate change, preached the virtues of fossil fuels and seethed...

November 16, 2017 Europe steps in to cover US shortfall in funding climate science

Source: BBC

French president Emmanuel Macron says that Europe will cover any shortfall in funding for the global climate body, the IPCC.

November 15, 2017 All South Floridians in the House voted against flood-insurance overhaul. Here’s why

Source: Miami Herald

WASHINGTON The entire South Florida delegation in the House of Representatives voted Tuesday against a proposal to overhaul the National Flood Insurance Program, as Congress seeks a long-term solution for the program saddled...

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