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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 19, 2019 Wall Street investment giants voting against key climate resolutions

Source: The Guardian

Asset management companies BlackRock Inc and Vanguard have failed to live up to pledge to support climate action at energy firms

September 19, 2019 Japanese companies lead world in disclosing climate risks

Source: FT

Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights....

September 19, 2019 Tech giant Salesforce unveils new pollution tracking tool called Sustainability Cloud

Source: The Verge

Today, customer relationship management company Salesforce unveiled Sustainability Cloud, software that helps businesses track and analyze their environmental data. The announcement has been cautiously welcomed by environmental...

September 18, 2019 Impact investing is hot right now. Here’s why

Source: MIT Management

Investing in companies that are measurably helping to solve global issues wins you not just brownie points, but financial returns too

September 17, 2019 Exclusive: Cities to step up at U.N. to push climate fight, sustainable development

Source: Reuters

UNITED NATIONS - As some world leaders question whether the world is facing a climate emergency, more than a dozen cities are stepping up to tackle global warming and sustainable development and will next week pledge to report...

September 17, 2019 Adweek Is Spotlighting How Sustainability and Climate Change Intersect With Marketing

Source: AdWeek

Leaders from around the globe will convene in New York next week with U.N. Secretary-General António Guterres to discuss taking action against climate change. In the lead-up to that summit, Adweek will publish a series of stories...

September 14, 2019 Climate adaptation begins with how we manage water (commentary)

Source: Mongabay

A contributor to the GCA report, the International Water Management Institute (IWMI), where I am Director General, is already developing many practical solutions that can be scaled up to adapt to ...

September 6, 2019 Germany's finance industry struggles to marry climate action and business strategy

Source: Clean Energy Wire

While most are well aware of the risks from climate change and of potential losses to their fossil assets from climate policies, the sector is struggling to revamp its green finance approach. Companies have trouble defining...

September 6, 2019 Hurricane Dorian lashes North Carolina with strong winds, rain and storm surges

Source: CNN

Wilmington, North Carolina - Hurricane Dorian lashed parts of North Carolina and Virginia with rain, storm surges and strong winds as it brushed up against the coast early Friday as a Category 1 storm.

September 4, 2019 Hurricane Dorian threatens the US after devastating the Bahamas

Source: CNN

Hurricane Dorian is moving north, staying about 100 miles off Florida's east coast late Tuesday night and Wednesday. It could reach the coasts of South and North Carolina later in the week.

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