Global warming threatens U.S. security by leaving important military hubs vulnerable to rising seas and possibly fomenting anti-American sentiment, U.S. Sen. John Kerry said on Monday. Skip related content
There is "scarcely an instrument of U.S. foreign policy" that was not vulnerable to climate change, which scientists say will raise sea levels by melting glaciers and ice sheets on Greenland and Antarctica, Kerry, a Democrat, said at a Council on Foreign Relations meeting.
U.S. military hubs that could be harmed by rising seas include the island Diego Garcia in the Indian Ocean, a center for military operations across the Middle East, and Norfolk, Virginia, home to the U.S. Atlantic Fleet.
Kerry said the piers at Norfolk may have to be completely rebuilt if seas rise significantly since they are cemented to the sea floor. The problem was surmountable, but could be "expensive, complicated and perhaps (would even have an impact on) readiness," he said.
The senator's comments came as the U.S. Congress mulls a climate bill that aims to cut emissions of greenhouse gases such as carbon dioxide and methane. The legislation would cut emissions by less than many developing countries want.
Many poor countries want industrialized countries to take deep action on reducing emissions because they enjoyed nearly two centuries of freely doing so during the rise to modernization.
Kerry, the chairman of the Senate Foreign Relations Committee, said it was "not hard to see" that U.S. inaction on climate change could crystallize anti-American resentment. That was most likely in poor countries across South Asia and Africa that are most vulnerable to climate change's expected floods, heat waves, and droughts, that are also the nations least able to do anything about climate change.
Droughts and desertification from climate change could hit hardest in South Asia, home to what Kerry called "the center of our terrorist threat."
The climate bill is expected to go to a vote in the House this summer. Its future in the Senate is uncertain.
Wednesday, June 17, 2009
Flashing night sky was 'meteor shower'
Ominous green lights that flashed across the skies of the English Channel have been put down to a meteor shower, according tCalls flooded in to authorities on Monday night from Hampshire to Devon and across to Jersey and France, with people saying they were seeing white and green flares in the sky.
A Solent Coastguard spokesman said: "There were reports of flares all down the coast which went on for about half an hour but there was a forecast for a meteor shower."
Meteor showers are caused by debris from a comet burning up in the Earth's atmosphere.
This can produce shooting stars across the night sky, particularly visible on clear nights, which was the case over southern England on that night.
Solent Coastguard said it could have been one of three showers forecast - the June Lyrids, the Ophruchids or the Zeta Pearseids.
o coastguards
A Solent Coastguard spokesman said: "There were reports of flares all down the coast which went on for about half an hour but there was a forecast for a meteor shower."
Meteor showers are caused by debris from a comet burning up in the Earth's atmosphere.
This can produce shooting stars across the night sky, particularly visible on clear nights, which was the case over southern England on that night.
Solent Coastguard said it could have been one of three showers forecast - the June Lyrids, the Ophruchids or the Zeta Pearseids.
o coastguards
Scientist Denounces TV Ads for Deliberately Misleading Public on Global Warming
A senior scientist whose research is being cited in television ads that challenge the reality of global warming has denounced the ads as a “deliberate effort to confuse and mislead the public” and says the group that produced the ads is misrepresenting his work to support its false claims.
The Competitive Enterprise Institute (CEI), a Washington D.C.-based nonprofit public policy that is partially funded by large oil companies, is running a series of national television advertisements claiming that warnings about global warming are “alarmist.” The ads were timed to coincide with theatrical release of An Inconvenient Truth, a documentary film starring former U.S. Vice President Al Gore that provides scientific evidence of global warming and urges people to take action to help reduce it.
Ads Misrepresent Research Results
To bolster its claims, CEI references scientific research that supposedly refutes the large body of science that supports global warming. Among the scientific work cited by CEI is research conducted in the Antarctic by Curt Davis, director of the Center for Geospatial Intelligence at the University of Missouri-Columbia. (View the ads.)
According to the ads, Davis’ work shows that global warming is not causing ice sheets to shrink, but Davis has issued a statement saying that CEI is misrepresenting his research for its own purposes, and a senior editor at the journal Science (which published Davis’ research) backs him up.
"These television ads are a deliberate effort to confuse and mislead the public about the global warming debate," Davis said. "They are selectively using only parts of my previous research to support their claims. They are not telling the entire story to the public."
"The text of the CEI ad misrepresents the conclusions of the two cited Science papers and our current state of knowledge by selective referencing," said Dr. Brooks Hanson, deputy editor, physical sciences, Science.
Scientific Consensus on Global Warming
Prior to Davis' 2005 study, the U.N. Intergovernmental Panel on Climate Change said that if global warming were occurring, increased precipitation in Antarctica's interior would likely result. In his study, Davis reported growth in the interior East Antarctica ice mass. He said this growth was probably caused by an increase in precipitation, and made it clear in his study that growth of the interior ice sheet is “a predicted consequence of global warming.” Davis said his study did not include the coastal areas of Antarctica, which are known to be losing mass at a rate that could easily offset or outweigh increases in the interior areas.
"On one of those ads, they [CEI] chose to use the result I published last year to basically say the ice sheets are growing and not shrinking," Davis said in an interview with the Columbia Daily Tribune. "It’s a blatant misuse of our result to create confusion where confusion does not exist."
"Our result is specific to one part of the ice sheet," Davis said. "You can’t use that to say the whole continent is growing. It’s undisputed in the scientific community that global warming is occurring.”
In an interview with The Independent, a British news publication, Davis was asked if he doubted the evidence of global warming. He replied: "Personally, I have no doubts whatsoever."
Oil Industry-Backed Group Known for Misleading Information
Environmentalists have repeatedly accused the CEI of producing misleading information about global warming and the degree to which human activity, including the increased use of fossil fuels, contributes to climate change. In reality, there is a broad scientific consensus that the planet is warming rapidly and that human activity plays a significant role in causing global warming.
David Doniger, the climate policy director with the Natural Resources Defense Council, told The Independent that climate change skeptics do not even represent "the minority...they're the fringe.”
"It's the same as with tobacco,” Doniger said. “To claim that fossil fuel emissions don't cause global warming is like saying cigarettes don't cause cancer."
Ads Claim to Counter “Lopsided Press Coverage”
The Competitive Enterprise Institute defended the ads and dismissed scientist Curt Davis' claim that the ads misrepresented his research.
Myron Ebell, CEI's director of global warming policy, agrees the public is being misled, but he blames it on “global warming alarmism” and “lopsided press coverage of glacial melting as a worldwide catastrophe.” Ebell says the media chooses to report only the research that supports the evidence of climate change and ignores scientific studies that question it.
"There is no consensus about the extent of the warming or the consequences," Ebell said.
But Ebell’s comments read like just one more CEI attempt to spin fact out of fiction. In reality, any “lopsided press coverage” that occurs on global warming is largely driven by groups such as CEI, which deliberately seek to confuse the issue with misleading and inaccurate information.
Public Confused by Misleading Information
A survey by Science magazine (December 2004) of peer-reviewed scientific studies on climate change showed that 928 peer-reviewed papers supported global warming and none denied it.
In a similar sampling of stories from the mass media, 53 percent suggested that global warming is unproven, a perception driven largely by reporters including in their coverage misleading claims by groups such as CEI.
Clearly, the message people are getting doesn’t match the facts—but not in the way CEI suggests.
The Competitive Enterprise Institute (CEI), a Washington D.C.-based nonprofit public policy that is partially funded by large oil companies, is running a series of national television advertisements claiming that warnings about global warming are “alarmist.” The ads were timed to coincide with theatrical release of An Inconvenient Truth, a documentary film starring former U.S. Vice President Al Gore that provides scientific evidence of global warming and urges people to take action to help reduce it.
Ads Misrepresent Research Results
To bolster its claims, CEI references scientific research that supposedly refutes the large body of science that supports global warming. Among the scientific work cited by CEI is research conducted in the Antarctic by Curt Davis, director of the Center for Geospatial Intelligence at the University of Missouri-Columbia. (View the ads.)
According to the ads, Davis’ work shows that global warming is not causing ice sheets to shrink, but Davis has issued a statement saying that CEI is misrepresenting his research for its own purposes, and a senior editor at the journal Science (which published Davis’ research) backs him up.
"These television ads are a deliberate effort to confuse and mislead the public about the global warming debate," Davis said. "They are selectively using only parts of my previous research to support their claims. They are not telling the entire story to the public."
"The text of the CEI ad misrepresents the conclusions of the two cited Science papers and our current state of knowledge by selective referencing," said Dr. Brooks Hanson, deputy editor, physical sciences, Science.
Scientific Consensus on Global Warming
Prior to Davis' 2005 study, the U.N. Intergovernmental Panel on Climate Change said that if global warming were occurring, increased precipitation in Antarctica's interior would likely result. In his study, Davis reported growth in the interior East Antarctica ice mass. He said this growth was probably caused by an increase in precipitation, and made it clear in his study that growth of the interior ice sheet is “a predicted consequence of global warming.” Davis said his study did not include the coastal areas of Antarctica, which are known to be losing mass at a rate that could easily offset or outweigh increases in the interior areas.
"On one of those ads, they [CEI] chose to use the result I published last year to basically say the ice sheets are growing and not shrinking," Davis said in an interview with the Columbia Daily Tribune. "It’s a blatant misuse of our result to create confusion where confusion does not exist."
"Our result is specific to one part of the ice sheet," Davis said. "You can’t use that to say the whole continent is growing. It’s undisputed in the scientific community that global warming is occurring.”
In an interview with The Independent, a British news publication, Davis was asked if he doubted the evidence of global warming. He replied: "Personally, I have no doubts whatsoever."
Oil Industry-Backed Group Known for Misleading Information
Environmentalists have repeatedly accused the CEI of producing misleading information about global warming and the degree to which human activity, including the increased use of fossil fuels, contributes to climate change. In reality, there is a broad scientific consensus that the planet is warming rapidly and that human activity plays a significant role in causing global warming.
David Doniger, the climate policy director with the Natural Resources Defense Council, told The Independent that climate change skeptics do not even represent "the minority...they're the fringe.”
"It's the same as with tobacco,” Doniger said. “To claim that fossil fuel emissions don't cause global warming is like saying cigarettes don't cause cancer."
Ads Claim to Counter “Lopsided Press Coverage”
The Competitive Enterprise Institute defended the ads and dismissed scientist Curt Davis' claim that the ads misrepresented his research.
Myron Ebell, CEI's director of global warming policy, agrees the public is being misled, but he blames it on “global warming alarmism” and “lopsided press coverage of glacial melting as a worldwide catastrophe.” Ebell says the media chooses to report only the research that supports the evidence of climate change and ignores scientific studies that question it.
"There is no consensus about the extent of the warming or the consequences," Ebell said.
But Ebell’s comments read like just one more CEI attempt to spin fact out of fiction. In reality, any “lopsided press coverage” that occurs on global warming is largely driven by groups such as CEI, which deliberately seek to confuse the issue with misleading and inaccurate information.
Public Confused by Misleading Information
A survey by Science magazine (December 2004) of peer-reviewed scientific studies on climate change showed that 928 peer-reviewed papers supported global warming and none denied it.
In a similar sampling of stories from the mass media, 53 percent suggested that global warming is unproven, a perception driven largely by reporters including in their coverage misleading claims by groups such as CEI.
Clearly, the message people are getting doesn’t match the facts—but not in the way CEI suggests.
Climate Change:Impacts and Solutions
Climate change is considered by many scientists to be the most serious threat facing the world today. The Kyoto Protocol is an international agreement to cut greenhouse gas emissions that cause climate change. Solutions include phasing out coal plants, expanding renewable energy sources and public transit, and creating new efficiency standards for vehicles and buildings. Find out what you can do to help make a difference!
What's new
The deadline for completing negotiations and agreeing upon a framework to fight climate change is a conference in Copenhagen this December. Bridging the Divide lays out the reasons why Canada is a barrier to a strong Copenhagen agreement—much more so than China or other developing countries—and what our government can do to change that.
A recent Science Matters article discusses B.C.'s renewable energy future including run-of-river hydro projects.
How will climate change impact the future of winter sports? Download On Thin Ice, a report examining how the decisions we make now will ultimately affect the future of winter sports and the role they play in Canada's identity, natural heritage, and economy.
Find out how your business can save the climate - and improve its bottom line. Download Doing Business in a New Climate, a how-to guide to help businesses and other organizations measure, reduce, and offset their greenhouse gas emissions.
For the David Suzuki Foundation's recommendations on holding a carbon neutral winter games in 2010, check out Meeting the Challenge.
Our take on Carbon Pricing (PDF 51 KB)
Find out what NHL players are doing about Global Warming
Go Carbon Neutral. Learn how you can take responsibility for your impact on the climate.
Leading athletes 'Play It Cool' to stop global warming. Find out more...
Projects: Some of the climate change initiatives the Foundation is involved in.
Science: The scientific consensus is clear: human-caused climate change is happening.
Impacts: Wildlife, human health and economies worldwide are threatened by climate change.
Kyoto Protocol: A crucial first step toward addressing climate change.
Energy: Learn about the advantages of renewable energy, conservation & efficiency over fossil fuels and nuclear power.
Solutions: Practical and cost-effective solutions to climate change are already available in many industrial sectors
What You Can Do: Simple changes in our everyday lives can make a big difference.
Publications: Download and read our latest reports on climate change, the Kyoto Protocol, and more.
Links: Additional resources on climate change and energy
What's new
The deadline for completing negotiations and agreeing upon a framework to fight climate change is a conference in Copenhagen this December. Bridging the Divide lays out the reasons why Canada is a barrier to a strong Copenhagen agreement—much more so than China or other developing countries—and what our government can do to change that.
A recent Science Matters article discusses B.C.'s renewable energy future including run-of-river hydro projects.
How will climate change impact the future of winter sports? Download On Thin Ice, a report examining how the decisions we make now will ultimately affect the future of winter sports and the role they play in Canada's identity, natural heritage, and economy.
Find out how your business can save the climate - and improve its bottom line. Download Doing Business in a New Climate, a how-to guide to help businesses and other organizations measure, reduce, and offset their greenhouse gas emissions.
For the David Suzuki Foundation's recommendations on holding a carbon neutral winter games in 2010, check out Meeting the Challenge.
Our take on Carbon Pricing (PDF 51 KB)
Find out what NHL players are doing about Global Warming
Go Carbon Neutral. Learn how you can take responsibility for your impact on the climate.
Leading athletes 'Play It Cool' to stop global warming. Find out more...
Projects: Some of the climate change initiatives the Foundation is involved in.
Science: The scientific consensus is clear: human-caused climate change is happening.
Impacts: Wildlife, human health and economies worldwide are threatened by climate change.
Kyoto Protocol: A crucial first step toward addressing climate change.
Energy: Learn about the advantages of renewable energy, conservation & efficiency over fossil fuels and nuclear power.
Solutions: Practical and cost-effective solutions to climate change are already available in many industrial sectors
What You Can Do: Simple changes in our everyday lives can make a big difference.
Publications: Download and read our latest reports on climate change, the Kyoto Protocol, and more.
Links: Additional resources on climate change and energy
Climate change
Climate change is the greatest crisis facing humanity. Whilst rich countries are responsible for most of the emissions pumped into the atmosphere it is the poorest, most marginalised communities in the world that will be hit the hardest by climate change. Millions are at threat from famine, disease, drought, flooding and ultimately death.
But this disaster can be avoided and we can all play an important part.
WDM is calling on the UK government to take action to reduce the UK’s emissions and show the rest of the world that it can be done.
It is time to stop climate injustice.
Take action on climate change.
Campaign Success
Climate Change Bill Becomes Law – The Verdict
After months of committed campaigning by WDM supporters, the UK’s historic climate change bill has completed its journey through parliament and will now become law.
WDM is delighted at the inclusion of three of WDMs main demands: a target to reduce greenhouse gas emissions by 80% by 2050; annual reduction targets; and inclusion of international aviation and shipping emissions.
The bill has now become an Act, setting the targets into law. The strength of the bill is testament to role of all those who took action, so congratulations to all those who sent postcards, emails and letters to the government over the past year.
Unfortunately, the Act contains one loophole; targets can be met by buying carbon credits from overseas rather than reducing emissions in the UK, particularly in sectors such as electricity and aviation. WDM will continue to campaign against new coal power stations and airport runways to ensure that the UK is not able to use this loop hole, and instead fulfil its commitment to cut emissions within the UK.
Corporate Lobbying Causes U-turn on Aviation Tax
In his pre-budget report in November, Chancellor Alistair Darling announced a u-turn on his decision to introduce a new tax on flights. The tax was due to replace air passenger duty. By taxing planes rather than passengers, the scrapped change would have made taxes on flying more closely related to carbon emissions, and so have a greater effect at limiting the climate impact of aviation.
The Chancellor’s decision was taken after fierce lobbying from specific elements of the aviation industry, such as air-freight, who will now continue to pay no aviation taxes at all. The aviation industry will continue to pay no tax on fuel or VAT; an effective subsidy from British taxpayers of £10 billion a year. WDM have expressed disappointment at this u-turn, which has been picked up in the Guardian, Independent and The Telegraph
But this disaster can be avoided and we can all play an important part.
WDM is calling on the UK government to take action to reduce the UK’s emissions and show the rest of the world that it can be done.
It is time to stop climate injustice.
Take action on climate change.
Campaign Success
Climate Change Bill Becomes Law – The Verdict
After months of committed campaigning by WDM supporters, the UK’s historic climate change bill has completed its journey through parliament and will now become law.
WDM is delighted at the inclusion of three of WDMs main demands: a target to reduce greenhouse gas emissions by 80% by 2050; annual reduction targets; and inclusion of international aviation and shipping emissions.
The bill has now become an Act, setting the targets into law. The strength of the bill is testament to role of all those who took action, so congratulations to all those who sent postcards, emails and letters to the government over the past year.
Unfortunately, the Act contains one loophole; targets can be met by buying carbon credits from overseas rather than reducing emissions in the UK, particularly in sectors such as electricity and aviation. WDM will continue to campaign against new coal power stations and airport runways to ensure that the UK is not able to use this loop hole, and instead fulfil its commitment to cut emissions within the UK.
Corporate Lobbying Causes U-turn on Aviation Tax
In his pre-budget report in November, Chancellor Alistair Darling announced a u-turn on his decision to introduce a new tax on flights. The tax was due to replace air passenger duty. By taxing planes rather than passengers, the scrapped change would have made taxes on flying more closely related to carbon emissions, and so have a greater effect at limiting the climate impact of aviation.
The Chancellor’s decision was taken after fierce lobbying from specific elements of the aviation industry, such as air-freight, who will now continue to pay no aviation taxes at all. The aviation industry will continue to pay no tax on fuel or VAT; an effective subsidy from British taxpayers of £10 billion a year. WDM have expressed disappointment at this u-turn, which has been picked up in the Guardian, Independent and The Telegraph
NGO’s write benchmark Copenhagen climate treaty
Climate change experts from leading non-governmental organisations today unveiled their blueprint for a legally binding Copenhagen agreement. This will serve as the benchmark for governments negotiating a new climate deal this year and shows how major differences between rich and poor nations can be overcome.
Download
NGO climate treaty 1.38 MB pdf NGO Copenhagen treaty: full legal text 623 KB pdf WWF Copenhagen Expectations Summary 196 KB pdf NGO climate treaty (.doc version) 6.45 MB doc NGO treaty Legal Text (.doc version) 358 KB doc WWF Copenhagen Expectations Summary (.doc version) 74 KB doc The 160-page “Copenhagen Climate Treaty”, which will be distributed to negotiators from 192 states, took some of the world’s most experienced climate NGO’s almost a year to write and contains a full legal text covering all the main elements needed to provide the world with a fair and ambitious agreement that keeps climate change impacts below the unacceptable risk levels identified by most scientists.
“This is the first time in history that a coalition of civil society groups has taken such a step. Together we have produced the most coherent legal document to date showing balanced and credible climate solutions based on equity and science” said Kim Carstensen of WWF International.
The document describes the path the world must be on to avoid catastrophic climate change, recognising that global temperature increase must be kept well below 2 degrees Celsius. It sets a global cap on emissions – a carbon budget – and explains in detail how both industrialised and developing countries can contribute to the safety of the planet and its people, according to their means and responsibilities and shows how the poorest and most vulnerable on the planet can be protected and compensated.
“We have put protection of the climate and therefore the planet and its people at the heart of this Treaty and we should expect and demand no less of our governments” said Martin Kaiser of Greenpeace International. “All that is needed now is political will and the ‘cut and paste’ feature to produce the agreement the world is waiting for,” he added.
Adaptation is another key component of the Treaty outlining an Adaptation Action Framework which includes grants, insurance and compensation for the most vulnerable countries.
“Help for the poor and vulnerable to deal with the climate impacts that are unavoidable is crucial. Without a strong, effective deal in Copenhagen we could also be looking at more resource wars, disruption, refugees and natural catastrophes in the very near future,” said Wael Hmaidan, IndyACT.
The Treaty calls for a legally binding agreement consisting of three parts; the Kyoto Protocol updated to strengthen industrialised country obligations; a new Copenhagen Protocol that has legally binding commitments for the USA and sets out low carbon pathways for developing countries, supported by the industrialised world; a set of decisions that lays the groundwork for the next three years.
The ‘Copenhagen Climate Treaty’, was drafted by Greenpeace, WWF, IndyACT – the League of Independent Activists, Germanwatch, David Suzuki Foundation, National Ecological Centre of Ukraine and expert individuals from around the world.
Notes to Editors:
The Copenhagen Climate Treaty includes:
The annual global carbon budget in 2020 from all sources of greenhouse gases (not counting those controlled by the Montréal Protocol) would be no higher than 36.1 Gt CO2e, bringing emissions down to roughly1990 levels and would need to be reduced to 7.2 Gt CO2e in 2050, in other words by 80 % below 1990 levels. A design proposal for a new institution – the Copenhagen Climate Facility - to manage the processes for emissions cuts, adaptation and forest protection under the new global treaty. A recipe for long-term action plans for both developed countries (Zero Carbon Action Plans, ZCAPs) and developing countries (Low Carbon Action Plans, LCAPs). Binding targets for Newly Industrialized Countries (NICs) like Singapore, South Korea and Saudi Arabia in line with the Convention principle of common but differentiated responsibilities and respective capabilities
Download
NGO climate treaty 1.38 MB pdf NGO Copenhagen treaty: full legal text 623 KB pdf WWF Copenhagen Expectations Summary 196 KB pdf NGO climate treaty (.doc version) 6.45 MB doc NGO treaty Legal Text (.doc version) 358 KB doc WWF Copenhagen Expectations Summary (.doc version) 74 KB doc The 160-page “Copenhagen Climate Treaty”, which will be distributed to negotiators from 192 states, took some of the world’s most experienced climate NGO’s almost a year to write and contains a full legal text covering all the main elements needed to provide the world with a fair and ambitious agreement that keeps climate change impacts below the unacceptable risk levels identified by most scientists.
“This is the first time in history that a coalition of civil society groups has taken such a step. Together we have produced the most coherent legal document to date showing balanced and credible climate solutions based on equity and science” said Kim Carstensen of WWF International.
The document describes the path the world must be on to avoid catastrophic climate change, recognising that global temperature increase must be kept well below 2 degrees Celsius. It sets a global cap on emissions – a carbon budget – and explains in detail how both industrialised and developing countries can contribute to the safety of the planet and its people, according to their means and responsibilities and shows how the poorest and most vulnerable on the planet can be protected and compensated.
“We have put protection of the climate and therefore the planet and its people at the heart of this Treaty and we should expect and demand no less of our governments” said Martin Kaiser of Greenpeace International. “All that is needed now is political will and the ‘cut and paste’ feature to produce the agreement the world is waiting for,” he added.
Adaptation is another key component of the Treaty outlining an Adaptation Action Framework which includes grants, insurance and compensation for the most vulnerable countries.
“Help for the poor and vulnerable to deal with the climate impacts that are unavoidable is crucial. Without a strong, effective deal in Copenhagen we could also be looking at more resource wars, disruption, refugees and natural catastrophes in the very near future,” said Wael Hmaidan, IndyACT.
The Treaty calls for a legally binding agreement consisting of three parts; the Kyoto Protocol updated to strengthen industrialised country obligations; a new Copenhagen Protocol that has legally binding commitments for the USA and sets out low carbon pathways for developing countries, supported by the industrialised world; a set of decisions that lays the groundwork for the next three years.
The ‘Copenhagen Climate Treaty’, was drafted by Greenpeace, WWF, IndyACT – the League of Independent Activists, Germanwatch, David Suzuki Foundation, National Ecological Centre of Ukraine and expert individuals from around the world.
Notes to Editors:
The Copenhagen Climate Treaty includes:
The annual global carbon budget in 2020 from all sources of greenhouse gases (not counting those controlled by the Montréal Protocol) would be no higher than 36.1 Gt CO2e, bringing emissions down to roughly1990 levels and would need to be reduced to 7.2 Gt CO2e in 2050, in other words by 80 % below 1990 levels. A design proposal for a new institution – the Copenhagen Climate Facility - to manage the processes for emissions cuts, adaptation and forest protection under the new global treaty. A recipe for long-term action plans for both developed countries (Zero Carbon Action Plans, ZCAPs) and developing countries (Low Carbon Action Plans, LCAPs). Binding targets for Newly Industrialized Countries (NICs) like Singapore, South Korea and Saudi Arabia in line with the Convention principle of common but differentiated responsibilities and respective capabilities
Tuesday, June 16, 2009
Investors Call On SEC to Enforce Climate Change Disclosures
The investor community is making another attempt to push the U.S. Securities and Exchange Commission (SEC) to improve disclosure of climate change risks. Members of the Investor Network on Climate Risk (INCR) and other leading global investors sent a letter to the SEC this week requesting that the Commission address the lack of corporate disclosure of climate change and other material environmental, social, and governance (ESG) risks in securities filings.
Specifically, the investors are requesting that the SEC issue formal guidance on material climate-related risks that companies should disclose and enforce existing disclosure requirements for climate change and other risks such as water scarcity and labor practices. They also want the SEC to recognize shareholders’ right to submit resolutions related to climate change and material environmental, social and governance issues as well as require the disclosure of these risks using the Global Reporting Initiative as a framework.
The letter’s 41 signatories include some of the nation’s largest public pension funds, state treasurers, controllers and comptrollers, asset managers, foundations and other institutional investors with approximately $1.4 trillion in assets under management.
The letter was sent to SEC chairman Mary Schapiro, commissioner Luis Aguilar, commissioner Kathleen Casey, commissioner Troy Paredes, and commissioner Elisse Walter.
This letter was sent in the wake of two recent reports, conducted by Ceres, the Environmental Defense Fund and the Center for Energy and Environmental Security, which find that companies with the most at stake in responding to risks and opportunities from climate change are lacking climate-related disclosures.
“Climate change and other environmental and social issues pose bottom line risks, and investors have a right to know which businesses are best positioned to compete in the emerging low-carbon global economy,” said Mindy S. Lubber, president of Ceres and director of the Investor Network on Climate Risk, in a statement.
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Specifically, the investors are requesting that the SEC issue formal guidance on material climate-related risks that companies should disclose and enforce existing disclosure requirements for climate change and other risks such as water scarcity and labor practices. They also want the SEC to recognize shareholders’ right to submit resolutions related to climate change and material environmental, social and governance issues as well as require the disclosure of these risks using the Global Reporting Initiative as a framework.
The letter’s 41 signatories include some of the nation’s largest public pension funds, state treasurers, controllers and comptrollers, asset managers, foundations and other institutional investors with approximately $1.4 trillion in assets under management.
The letter was sent to SEC chairman Mary Schapiro, commissioner Luis Aguilar, commissioner Kathleen Casey, commissioner Troy Paredes, and commissioner Elisse Walter.
This letter was sent in the wake of two recent reports, conducted by Ceres, the Environmental Defense Fund and the Center for Energy and Environmental Security, which find that companies with the most at stake in responding to risks and opportunities from climate change are lacking climate-related disclosures.
“Climate change and other environmental and social issues pose bottom line risks, and investors have a right to know which businesses are best positioned to compete in the emerging low-carbon global economy,” said Mindy S. Lubber, president of Ceres and director of the Investor Network on Climate Risk, in a statement.
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