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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

January 29, 2019 China regions losing 'momentum' in pollution fight: minister

Source: Reuters

SHANGHAI - Some regions in China have lost “momentum” when it comes to tackling pollution, with local officials blaming the country’s economic downturn on overzealous campaigns against smog, the environmental minister said in...

January 25, 2019 Climate change picked as core priority for fashion CEOs

Source: Companies

The organisations backing the new initiative, including Asos, Bestseller, H&M group, Kering, Li & Fung, Nike, PVH Corp, Sustainable Apparel Coalition and Target, are hoping the Agenda will encourage the fashion industry...

January 25, 2019 Worrying’ rise in global CO2 forecast for 2019

Source: The Guardian

The level of climate-warming carbon dioxide (CO2) in the atmosphere is forecast to rise by a near-record amount in 2019, according to the Met Office.

January 24, 2019 Climate Change May Be Creating a Groundwater 'Time Bomb,' Scientists Say

Source: Weather Channel

Researchers for a study published Monday in the journal Nature Climate Change say more than half of the world’s groundwater systems — the largest source of usable freshwater in the world — could take more than 100 years to...

January 23, 2019 We need to rethink everything we know about global warming

Source: Science Daily

New research shows that the degree to which aerosols cool the earth has been grossly underestimated, necessitating a recalculation of climate change models to more accurately predict the pace of global warming.

January 23, 2019 Doctors are frightened by climate change. Their industry is a big part of the problem.

Source: VOX

Wildfire deaths. Smoky air. Floods. Droughts. There’s no escaping the reality that global warming is rapidly exacerbating threats to human health and communities in the United States and around the world.

January 17, 2019 New U.S. Oil And Gas Drilling To Unleash 1,000 Coal Plants’ Worth Of Pollution By 2050

Source: Huff Post

Amid mounting calls to phase out fossil fuels in the face of rapidly worsening climate change, the United States is ramping up oil and gas drilling faster than any other country, threatening to add 1,000 coal plants’ worth of...

January 17, 2019 Davos: Climate is the biggest risk to business (and the world)

Source: CNN

Companies and investors are waking up to the dangers posed by climate change and extreme weather. Many now consider environmental risks, such as droughts and wildfires, to be even more dangerous than turbulent markets,...

January 16, 2019 Antarctica's ice is melting faster, raising risk of sea level rise

Source: CBS News

In the "the longest-ever assessment" of Antarctica's ice mass, scientists are reporting a rapid increase in melting — a six-fold increase in yearly Antarctic ice mass loss between 1979 and 2017.

January 15, 2019 Climate Change Is Making Waves Stronger

Source: Motherboard

Climate change is changing our wind patterns, which is strengthening waves traveling across the earth's surface.

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