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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
Oil major BP PLC’s board said Friday it will back a shareholder resolution at its annual meeting this year that would force the company to align its business strategy with the goals of the Paris Agreement on climate change.
February 4, 2019 Believe it or not, global warming might have caused the arctic blastSource: StarTribune
Last week’s arctic temperatures may have shocked millennials, but Minnesotans of a certain age swear they can remember such frigid spells as fairly regular events.
February 1, 2019 Shocked scientists find the 'ocean conveyor belt' that drives the planet's climate was NOT where they expectedSource: Daily Mail
The preliminary results after hundreds of measurements in 21 months found that engine was several hundreds of miles east of where they figured, said study lead author Susan Lozier, an ocean sciences professor at Duke University.
February 1, 2019 Monarch butterfly population wintering in Mexico increases 144%Source: The Guardian
Monarch production will not be replicated next year, experts warn, as above average temperatures will cause problems
January 31, 2019 Morningstar Launches New Low Carbon Risk Index Family Emphasizing Companies Aligned with the Transition to a Low-Carbon EconomySource: PR Newswire
Powered by Sustainalytics' Carbon Risk Ratings, the indexes are created through an optimization process that targets low portfolio-level carbon risk and fossil fuel exposure. "Climate change is a significant challenge that...
Source: Thomson Reuters Foundation
Meredith Giordano carried out this work as a Principal Researcher with the International Water Management Institute (IWMI). Meredith now works with the Peace Corps. Olcay Ünver is the Deputy ...
Source: NBC News
The massive cold weather front descending over the Midwest this week has commentators straining for analogies (“Deep Freeze,” “Arctic Outbreak” and “Ice Age”) and at least some people wondering what has become of global warming.
January 30, 2019 Antarctica's ice loss has sextupled since the 1970s, raising risk of sea level riseSource: Accu Weather
Researchers from the University of California, Irvine (UCI), NASA's Jet Propulsion Laboratory (JPL) and the Netherlands' Utrecht University found that the accelerated melting caused global sea levels to rise more than half an...
January 29, 2019 Faster carbon dioxide rise expected this year, says studySource: Financial Express
The forecast by researchers from the UK Met Office and University of Exeter is based on a combination of factors including rising anthropogenic emissions and a relative reduction in the uptake of carbon-dioxide by ecosystems due...
January 29, 2019 The diet for a healthy planet: what should environmentalists eat?Source: The Guardian
What we consume has implications for pollution and deforestation – so we asked four leading experts how to transform our diets to be better to ourselves and the planet
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