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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 14, 2019 ‘Insect apocalypse’ poses risk to all life on Earth, conservationists warn

Source: The Guardian

The “unnoticed insect apocalypse” should set alarm bells ringing, according to conservationists, who said that without a halt there will be profound consequences for humans and all life on Earth.

November 12, 2019 Fed Warns Climate Change Is Biggest Threat To The U.S. Economy

Source: Oil Price

Speaking at the GARP Global Risk Forum, NY Fed executive vice president Kevin Stiroh warned in his prepared remarks, that climate change - not, say, asset bubbles created by his employer - is a major threat that risk managers...

November 8, 2019 A 'green interest rate?' Fed digs into climate change economics

Source: Reuters

A “green interest rate” is one of the ideas on view Friday as the San Francisco Fed convenes the U.S. central bank’s first-ever conference on climate change and economics. The event is so oversubscribed a webcast has been created...

November 8, 2019 Scientists Study Sea Levels 125,000 Years Ago And It's a Terrifying Look at Our Future

Source: Science Alert

Sea levels rose 10 metres above present levels during Earth's last warm period 125,000 years ago, according to new research that offers a glimpse of what may happen under our current climate change trajectory.

November 6, 2019 New Delhi's toxic, polluted air chokes city's 20 million people, and the haze can be seen from space

Source: USA Today

Toxic air is choking New Delhi, closing schools and colleges, forcing cars off the road and prohibiting planes from landing at the airport.

November 6, 2019 OPEC Braces For Drastic Drop In Oil Demand

Source: Oil Price

OPEC admitted that demand for its oil over the next few years could be drastically weaker than it previously thought, due to a combination of a weakening economy, rising supply elsewhere, and pressure from climate activists.

November 5, 2019 Let's make our environment more sustainable to support small businesses

Source: The Hill

As is common in the small business-heavy outdoor recreation economy, Lindsey has worked sustainability and environmental responsibility into her company’s mission.

November 5, 2019 Deforestation is overrated as environmental threat, study finds

Source: Fov News

The study led by researchers at Ohio State University and Yale University states that deforestation for timber and farmland is responsible for about 92 billion tons of carbon emissions into the environment since 1900.

November 4, 2019 India air pollution at 'unbearable levels', Delhi minister says

Source: BBC

Air pollution in the north of India has "reached unbearable levels," the capital Delhi's Chief Minister Arvind Kejriwal says.

October 31, 2019 Explosion in Antarctic sea ice levels may cause another ice age

Source: Fox News

Upside-down "rivers" of warm ocean water may be one of the causes of Antarctica's ice shelves breaking up, leading to a rise in sea levels. But a new study suggests an increase in sea ice may lead to a much more devastating...

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