Australian (ASX) Stock Market Forum

Is Global Warming becoming unstoppable?

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basilio said:
We understood you perfectly Mr Tisme. Keep on trolling..
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You want to add in some of your usual expletives and personal insults to compensate for your lack of visceral and intellectual comprehension?
 
basilio said:
Does anyone else have a clue what Tisme is sprouting ?
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I've interpreted it to mean risk in the sense that a business views risk.

If my "business" were the planet's climate then any risk assessment process I've seen used in any business, privately owned or government, would put CO2 etc emissions very firmly in the red zone and requires an immediate response.

Reason being that once you conclude that the consequences either threaten the ongoing viability of the entire business or result in multiple human lives lost, the probability of occurrence becomes largely irrelevant from that point on. Even if it's very unlikely to occur, it still ends up in the red zone if the consequences really are that drastic.

It's hard to imagine how climate change wouldn't be put into that category in any such process.
 
Tisme said:
You want to add in some of your usual expletives and personal insults to compensate for your lack of visceral and intellectual comprehension?
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Nail.on.Head Nothing intelligent in your comments Tisme. Just sophisticated trolling with "gooble gook squared".

If anyone came to a meeting I chaired with content like that for general board understanding I shoot it right back for rewriting and clarification.

But then you're the "big cheese" in your life aren't you ? You can say what you like and anyone else can madly pretend to nod..:D
 
SirRumpole said:
Unfortunately I think climate change is now feeding on itself.

The fires around the world as a result of CC are now releasing tonnes more CO2, which creates more warming, which creates more fires etc.

So really if that cycle continues I think we are stuffed. I don't really see a way out. Planting more trees would be counter productive if they too catch fire and create more CO2.

So my answer to the topic heading, I'm sorry to say is YES.
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The melting permafrost will be the major calamity.
 
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basilio said:
Nail.on.Head Nothing intelligent in your comments Tisme. Just sophisticated trolling with "gooble gook squared".

If anyone came to a meeting I chaired with content like that for general board understanding I shoot it right back for rewriting and clarification.

But then you're the "big cheese" in your life aren't you ? You can say what you like and anyone else can madly pretend to nod..:D
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Wot meeting have you ever chaired apart from a staff meeting of chalk boarders?

Make it snappy I have a meeting at 2pm which I'm chairing for state govt higher upperers.
 
SirRumpole said:
Yes, unstoppable sea level rises that will affect most people eventually.
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Do we know the current (pun) sea level rise actual? It was projected to be straight lining to 175mm from 1900 at one stage.
 
Tisme said:
Wot meeting have you ever chaired apart from a staff meeting of chalk boarders?

Make it snappy I have a meeting at 2pm which I'm chairing for state govt higher upperers.
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Not doing much good, attack the individual.

State guvmint deniers recruitment club i'd say.

Anyolehow, temperature continues to rise off the arctic so time for a whiskey, hey... maybe go back to the smokes while the party lasts.
 
Tisme said:
Wot meeting have you ever chaired apart from a staff meeting of chalk boarders?

Make it snappy I have a meeting at 2pm which I'm chairing for state govt higher upperers.
Click to expand...
Then why are you wasting your time with us mere mortals ?
Get along now and stop wasting precious company time on trolling ASF..:D
 
Factoring the effects of climate change into business.

New CBA case a warning: Step up on climate change, or we’ll see you in court
John Hewson
Despite the scale and urgency of the climate crisis and popular support for action, governments and financiers are failing to act. This will have to change

John Hewson is a professor at ANU and a former Liberal

In a global first, Australian mum-and-dad shareholders Guy and Kim Abrahams have launched a case against the Commonwealth Bank, arguing that the bank has breached the law by not disclosing the risks climate change poses to its business.

Buying their shares over 20 years ago, Guy and Kim were making “an investment in their children’s futures”. A climate-changed world of financial risk, social upheaval and environmental degradation is clearly not the future they signed up for.

Climate change is an immediate threat to the entire global financial system. This was the ominous warning that came from the Australian Prudential Regulation Authority earlier this year. And they’re taking it seriously, declaring that they’ll be stress-testing the Australian financial system to force the financial sector to do more to transition to a clean economy. They’re right to do so.

Climate change is the “tragedy of the horizon,” governor of the Bank of England Mark Carney warned in a landmark speech in Berlin last year.

“We don’t need an army of actuaries to tell us that the catastrophic impacts of climate change will be felt beyond the traditional horizons of most actors – imposing a cost on future generations that the current generation has no direct incentive to fix”, he said.

....... The Asset Owners Disclosure Project (AODP), which I chaired, has led the world debate by surveying, rating, and ranking the world’s 500 largest investors on climate-risk management with the AODP global climate index over the last decade.

Funds are rated from AAA through to D grade, with an extra X category being added for those funds at the bottom that appear to be doing absolutely nothing to manage this critical risk.

... Institutional investors are growing increasingly impatient with companies dragging their heels. Earlier this year BlackRock Inc, the world’s largest asset manager with about US$5.1tn under management announced, “Investors can no longer ignore climate change”.

“Ultimately the board is responsible for protecting the long-term economic interests of shareholders and we may vote against the re-election of certain directors where we believe they have not fulfilled that duty” BlackRock said.

This echoes statements by APRA’s Geoff Summerhayes earlier this year that directors will be individually responsible for failing to appropriately manage climate change risks, following the release of an influential opinion by barrister Noel Hutely SC. Mr Hutely found that company directors who fail to properly consider and disclose foreseeable climate-related risks to their business could be held personally liable for breaching their statutory duty of due care and diligence under the Corporations Act, warning it’s “only a matter of time” before we see this sort of litigation against a director.

https://www.theguardian.com/comment...up-on-climate-change-or-well-see-you-in-court
 
basilio said:
Factoring the effects of climate change into business.

New CBA case a warning: Step up on climate change, or we’ll see you in court
John Hewson
Despite the scale and urgency of the climate crisis and popular support for action, governments and financiers are failing to act. This will have to change

John Hewson is a professor at ANU and a former Liberal

In a global first, Australian mum-and-dad shareholders Guy and Kim Abrahams have launched a case against the Commonwealth Bank, arguing that the bank has breached the law by not disclosing the risks climate change poses to its business.

Buying their shares over 20 years ago, Guy and Kim were making “an investment in their children’s futures”. A climate-changed world of financial risk, social upheaval and environmental degradation is clearly not the future they signed up for.

Climate change is an immediate threat to the entire global financial system. This was the ominous warning that came from the Australian Prudential Regulation Authority earlier this year. And they’re taking it seriously, declaring that they’ll be stress-testing the Australian financial system to force the financial sector to do more to transition to a clean economy. They’re right to do so.

Climate change is the “tragedy of the horizon,” governor of the Bank of England Mark Carney warned in a landmark speech in Berlin last year.

“We don’t need an army of actuaries to tell us that the catastrophic impacts of climate change will be felt beyond the traditional horizons of most actors – imposing a cost on future generations that the current generation has no direct incentive to fix”, he said.

....... The Asset Owners Disclosure Project (AODP), which I chaired, has led the world debate by surveying, rating, and ranking the world’s 500 largest investors on climate-risk management with the AODP global climate index over the last decade.

Funds are rated from AAA through to D grade, with an extra X category being added for those funds at the bottom that appear to be doing absolutely nothing to manage this critical risk.

... Institutional investors are growing increasingly impatient with companies dragging their heels. Earlier this year BlackRock Inc, the world’s largest asset manager with about US$5.1tn under management announced, “Investors can no longer ignore climate change”.

“Ultimately the board is responsible for protecting the long-term economic interests of shareholders and we may vote against the re-election of certain directors where we believe they have not fulfilled that duty” BlackRock said.

This echoes statements by APRA’s Geoff Summerhayes earlier this year that directors will be individually responsible for failing to appropriately manage climate change risks, following the release of an influential opinion by barrister Noel Hutely SC. Mr Hutely found that company directors who fail to properly consider and disclose foreseeable climate-related risks to their business could be held personally liable for breaching their statutory duty of due care and diligence under the Corporations Act, warning it’s “only a matter of time” before we see this sort of litigation against a director.

https://www.theguardian.com/comment...up-on-climate-change-or-well-see-you-in-court
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Waste of money.
What exactly is Australia speeding towards a clean economy going to do if all the other nations continue to pollute?


Food, energy, border security and risk management funding for extreme weather scenarios. Not wasting cash on "feel good" policies that actually do nothing in the greater scheme of things.
 
moXJO said:
Waste of money.
What exactly is Australia speeding towards a clean economy going to do if all the other nations continue to pollute?


Food, energy, border security and risk management funding for extreme weather scenarios. Not wasting cash on "feel good" policies that actually do nothing in the greater scheme of things.
Click to expand...

I think you have misunderstood this story. It is directed to businesses and asking them to examine their exposure to climate change risks. What could be the foreseable impacts on their business operations which a board should be aware of and undertake due diligence ?

One instance could be a energy company that believes it has multi millions of barrels of oil as a resource but is unwilling to recognise that they may not be able to extract them because of restrictions on fossil fuel use in the near future.
In fact that is a very possible scenario.
 
basilio said:
I think you have misunderstood this story. It is directed to businesses and asking them to examine their exposure to climate change risks. What could be the foreseable impacts on their business operations which a board should be aware of and undertake due diligence ?

One instance could be a energy company that believes it has multi millions of barrels of oil as a resource but is unwilling to recognise that they may not be able to extract them because of restrictions on fossil fuel use in the near future.
In fact that is a very possible scenario.
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Sorry bas I quoted the wrong post.
 
SirRumpole said:
I can see the cost of basic home insurance becoming unaffordable soon.
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In fact there may well be whole areas that are uninsurable because of flood/rising sea level risk.
Insurance companies may also put a line through homes in high fire rsk areas if they decide the risk of bushfire is too great.

So in these circumstances what will be the value of the properties ?o_O I imagine banks won't lend against them because they are uninsurable.
 

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