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SCARY STUFF: The Fourth Official Climate Science Special Report by the U.S. Governments Global Change Research Program Whether you are an investor, company executive or board member, or an issue advocate, or civic leader, these “high probability” outcomes should keep you up at night: more superstorms; more drought; increased risk of forest fires; more floods; rising sea levels; melting glaciers; ocean acidification; increasing atmospheric water vapor (thus, more powerful rainstorms)…and more. How about a potential drop of 10% in the U.S.A. Gross Domestic Product by end of this century? These are some of the subjects explored in depth in the fourth “Climate Science Special Report” of the U.S. Global Change Research Program. That is a collaborative effort of more than a dozen Federal departments, such as NOAA, NASA, US EPA, and executive branch cabinet offices of Commerce, Agriculture, Energy, State, Transportation, and Defense; plus the OMB (Office of the President). The experts gathered from these departments of the U.S. government plus a passel of university-based experts, reported last week (in over 1600 pages of related content) on the “state of science relating to climate change and its physical impacts.” The CSSR (Climate Science Special Report) serves as a foundation for efforts to assess climate-related risks and inform decision-makers…it does not include policy recommendations. The results are not encouraging – at least not in November 2018. The National Oceanic and Atmospheric Administration (NOAA) is the lead agency working with NASA and other governmental bodies to develop the report – which analyzes current trends in climate change and project major trends out to the end of this 21st Century. The focus of the work is on human welfare, societal, economic, and environmental elements of climate change. Each chapter of the report focuses on key findings and assigns a “confidence statement” for scientific uncertainties. There are 10 regional analyses of climate change (such as the Northeast, and Southern Great Plains). Some highlights: (1) This period is now the warmest in the history of modern civilization. (2) Thousands of studies have documented changes in surface, atmospheric and oceanic temps; (3) and glaciers are rapidly melting; (4) rising sea levels; (5) and the incidence of daily tidal flooding accelerating in more than 25 Atlantic and Gulf coast cities. Global climate is projected to change over this century (and beyond) – the report is replete with “likelihoods” of events) and the experts state that with major effort, temps could be limited to 3.6°F / 2°C or less – or else. Without action, average global temperatures could increase 9°F / 5°C relative to pre-industrial times – disaster at the end of the 2100s. The Financial Stability Board’s Task Force on Climate-related Financial Risk Disclosure (the TCFD) strongly recommendations that the financial sector companies and (initial) four business sectors begin to test scenarios against (to begin with) 2-degrees Centigrade (3.5°F) temp rise and increase from there. This assessment should be a valuable resource for investors, bankers, insurance carriers and companies in their scenario planning (alternative scenarios are in the report). Click the links below for: Our Top Story is The Washington Post’s take on the report and its issuance on a slow Thanksgiving Friday news period. This Week's Top Stories Washington Post – Climate story by Brady Dennis and Christ Mooney
Sustainability: Continuing Forward Momentum! Sustainability A Variable Driver Of European Shopper Behaviour APR: ‘There is no sustainability without recycling’ Our Focus This Week on A Range of ESG Topics & Issues More For You to Think About What Will Be the Future Impact of These Developments? Despite Climate Pledges, Global Energy Emissions on the Rise Climate contrarian uncovers scientific error, upends major ocean warming study California wildfires raise concerns about impacts to environment and health
Headlines From the Corporate Sector - Both Positive & Negative New Survey Shines Light On How Business Leaders View Sustainability How to Tie Executive Compensation to Sustainability Cocoa market still ‘unethical, unfair’ despite 10 years of sustainability in the industry US cotton launches protocol to boost sustainability As fashion moves toward sustainability, streetwear’s major players are notably silent on environmental impacts Mainstreaming Sustainability: What Banks And Business Schools Should Do Next Outdoor Industry Isn’t Promoting Sustainability Enough, Expert Says Macy's is making a move that signals the death of department stores as we know them And the Headlines of interest… Sears should close for good, creditors say VW claims it can produce 50 million electric cars, vows to have ‘much lower’ prices than Tesla
News & Opinion: Asset Managers, Sovereign Wealth Funds, Pension Funds Public Pension Return Assumptions Fall to All-Time Low Saudi killing of Khashoggi is ‘business as usual’ in the Arab world |
G&A Institute Sustainability Update™
________________________________________ _________________________________________ Louis Coppola from G&A Institute Goes In Depth on How to Improve ESG Performance
_________________________________________ Governance & Accountability Institute Research FLASH REPORT: 85% of S&P 500 Index® Companies Publish Sustainability Reports in 2017
Using The GRI Sustainability Reporting Framework Improves The Quality of ESG Disclosures - Joint Research From G&A Institute and Baruch College Shows
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