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<p><i><font size="+1"><b>May 29, 2021</b></font></i></p>
[harsh political reality]<br>
<b>Biden’s Fossil Fuel Moves Clash With Pledges on Climate Change</b><br>
<blockquote>“To use an oil analogy, we’re not changing a speedboat.
We’re shifting course of a giant supertanker. It’s not going to
happen overnight,” Ms. Jaffe said, adding, “It’s a time-consuming
and thoughtful process to move an entire country the size of the
United States, with the complexity of the economy we have, to a
major energy transition.”<br>
</blockquote>
<a class="moz-txt-link-freetext" href="https://www.nytimes.com/2021/05/28/climate/biden-fossil-fules-climate-Willow.html">https://www.nytimes.com/2021/05/28/climate/biden-fossil-fules-climate-Willow.html</a><br>
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[formerly a sink -- now changed to a source - because of
deforestation]<br>
<b>Why has the Amazon flipped from carbon sink to carbon source?</b><br>
May 27, 2021<br>
Just Have a Think<br>
The Amazon was once called the 'lungs of the planet'. New research
suggests those lungs are now so badly diseased that they may be
irreparable. Human activity hasn't just lowered the amount of CO2
the region can store, it's also kicked off numerous other feedback
loops that are now tipping out of control. So what are those
variables, and what's the prognosis?<br>
<a class="moz-txt-link-freetext" href="https://www.youtube.com/watch?v=A01ddGNHLoE">https://www.youtube.com/watch?v=A01ddGNHLoE</a><br>
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[upper atmosphere is the worst place to pollute]<br>
<b>A Big Climate Problem With Few Easy Solutions: Planes</b><br>
The airline industry might not be able to reduce greenhouse gas
emissions for decades because most solutions are not yet viable.<br>
<a class="moz-txt-link-freetext" href="https://www.nytimes.com/2021/05/28/business/energy-environment/airlines-climate-planes-emissions.html">https://www.nytimes.com/2021/05/28/business/energy-environment/airlines-climate-planes-emissions.html</a><br>
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[we knew, now we're reminded]<br>
<b>New climate predictions increase likelihood of temporarily
reaching 1.5 °C in next 5 years</b><br>
<a class="moz-txt-link-freetext" href="https://www.preventionweb.net/news/view/78092">https://www.preventionweb.net/news/view/78092</a>
<p>- -</p>
[IPCC Report]<br>
<b>Global Warming of 1.5 ºC</b><br>
An IPCC special report on the impacts of global warming of 1.5 °C
above pre-industrial levels and related global greenhouse gas
emission pathways, in the context of strengthening the global
response to the threat of climate change, sustainable development,
and efforts to eradicate poverty. The translations of the SPM and
other material can be downloaded from this link <br>
<a class="moz-txt-link-freetext" href="https://www.ipcc.ch/sr15/">https://www.ipcc.ch/sr15/</a><br>
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[Barrons opinion- follow the money]<br>
<b>Exxon’s Shareholder Revolt Is a Warning for Boards Everywhere</b><br>
By Heidi Welsh - May 27, 2021<br>
<br>
Market reality has finally collided with the most important U.S.
energy company. Yesterday, Exxon Mobil shareholders elected at least
two of the dissident directors proposed by the activist hedge fund
Engine No. 1. Investors have lost patience with the basic business
assumption that oil and gas will rule forever. But investor
confidence in corporate boards is eroding on other contentious
public policies issues as well. Boards should take note.<br>
<br>
The vote at Exxon Mobil (ticker: XOM) was the predictable result of
long-term proxy season trends. My organization, the Sustainable
Investment Institute, has been tracking proxy voting trends since
2010. Support for social and environmental shareholder resolutions,
which raise the most fraught corporate responsibility questions, has
been rising steeply—stunningly so. More than two dozen such
proposals this year at public U.S. companies have earned majority
support. In the last 10 years, 95 social and environmental proposals
earned majority support, and half of those votes came last year and
this. Further, more than half the resolutions voted this year so far
have earned more than 30% support, a level widely seen to trigger
board attention. By contrast, as recently as 2012, there was only
one majority vote and less than a quarter of the votes exceeded 30%.<br>
<br>
(We are only halfway through tallying up the 2021 votes, which are
likely to number about 190, a figure that hasn’t budged for three
years.)<br>
<br>
Eight of the majority votes this year call for more disclosure and
action on climate change, nine are about workplace and board
diversity, and another six seek more oversight and disclosure on
election expenditures and lobbying.<br>
<br>
As vote totals began to rise in recent years, they initially seemed
to prompt more agreements between companies and shareholder proposal
sponsors. Withdrawn proposals exceeded those voted on for the first
time in 2018; this held true through 2020. (A withdrawn proposal is
almost always the result of an agreement for more disclosure or
action.) This year, in what may be a harbinger of both more
aggressive requests and rising expectations for board action that
could be preventing more agreements, the number of votes and
withdrawals is about even.<br>
<br>
As persistent calls for climate change mitigation have failed to
move boards, the institutional investors who move the market have
turned their sights to board-member elections. This is part of an
emerging corporate-governance playbook: The buck stops at the board.
We saw this shift first with board diversity, when funds on the
cutting edge of corporate governance started voting against
nominating committee members or the entire board when no women held
seats. Now a vanishingly small number of S&P 500 boards is
without a woman, and Goldman Sachs won’t lead underwrite IPOs if
there are no female directors. The evidence is overwhelming that
diverse boards produce stronger returns.<br>
<br>
Looking at the third major area of concern expressed in proxy
season, we’ve yet to see any evidence for a move to tie director
votes to corporate political-influence efforts. But this could be
the result of rapid uptake of the requested board oversight and, to
a lesser extent, disclosure on how and why shareholders’ money flows
from the corporate treasury into elections and lobbying. Unlike with
climate change, but similar to board diversity, companies
increasingly have adopted policies and reported on their political
spending. Not incidentally, proxy season support for
political-influence proposals has grown—producing seven majorities
this year already (two on climate-related influence), and an average
of 41% so far on 28 proposals, up about five points from last year.
Our research shows that 95% of the S&P 500 now has a policy on
political spending and three-quarters also address lobbying. Whether
that’s adequate remains to be seen.<br>
<br>
The spring corporate annual meeting season is a proven barometer of
investor sentiment about how much companies should tell them about
the “nontangible” risks and opportunities that now account for up to
90% of valuation. As the practice of sustainability reporting has
matured, gauzy sentiments about corporate values are being replaced
with harder data, although the quants will be arguing about the
details for some time. What they conclude may not even matter that
much, though, if one agrees with a new book, Moving Beyond Modern
Portfolio Theory by Jon Lukomnik and James P. Hawley. They argue
long-term investors must look beyond company-specific metrics, to
make the capital market forest and not just the corporate trees
thrive, since so much of long-term investor return depends on
overall market trajectory.<br>
<br>
Engine No. 1’s results were only possible with support from the
likes of BlackRock, Vanguard, and Fidelity, although we don’t yet
know how all the big mutual funds voted. As mainstream Wall Street
firms have increasingly tried to integrate environmental, social,
and governance factors into investment management, pressure for
consistency between investing practice and proxy voting has grown,
on both climate change and issues like diversity. This mainstreaming
of formerly minority concerns is also driven by the proxy advisory
firms, which themselves serve as a second-tier barometer of
institutional investor sentiment since their policies reflect the
collective views of their clients.<br>
<br>
It will take time to see the full impact of Exxon Mobil’s board
upset. Comparatively speaking, it’s a lot easier to put women on
boards than it is to retool the world’s largest industrial
corporation. Yet the consequences of not weaning ourselves from oil
and gas are larger still.<br>
<br>
Heidi Welsh is the founding executive director of the Sustainable
Investments Institute.<br>
<a class="moz-txt-link-freetext" href="https://www.barrons.com/articles/exxons-shareholder-revolt-is-a-warning-shot-for-boards-everywhere-51622143164">https://www.barrons.com/articles/exxons-shareholder-revolt-is-a-warning-shot-for-boards-everywhere-51622143164</a><br>
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[gnarly tracking over 3 decades]<br>
<b>Warming Oceans, Stronger Swells: Big Wave Surfers Ride More
Powerful Waves</b><br>
Mark Sponsler, a revered surf forecaster and founder of the site
stormsurf.com, has described a “golden age” for big wave surfing
caused by hotter temperatures and ocean water.<br>
<br>
As temperatures and ocean waters warm, evaporation increases, which
pumps more energy into the jet stream, generating more ferocious
storms over the open ocean, the genesis of Mavericks towering waves.<br>
<br>
Bianca Valenti, a San Franciscan and one of the best big wave
surfers in the world, charged at Mavericks' monster waves more than
a dozen times this past winter...<br>
more at -
<a class="moz-txt-link-freetext" href="https://www.kqed.org/science/1974937/warming-oceans-stronger-swells-big-wave-surfers-ride-more-powerful-waves">https://www.kqed.org/science/1974937/warming-oceans-stronger-swells-big-wave-surfers-ride-more-powerful-waves</a><br>
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[sociologist Schnaiberg]<br>
<b>Can We Be Heroes Again? Confronting the Banality of Modern Evil</b><br>
May 28, 2021<br>
Like Stories of Old<br>
About this video essay:<br>
An analysis of the dissonance between morality and heroism in
stories, and the reality and moral complexities of our modern
society. <br>
<blockquote>0:00 Introduction: Dreams of Heroism<br>
7:38 Part 1: Organized Irresponsibility <br>
15:41 Part 2: Carrying the Cross<br>
23:03 Part 3: The Banality of Evil<br>
31:09 Part 4: Reclaiming Morality<br>
</blockquote>
Sources:<br>
Allan Schnaiberg – The Treadmill of Production:
<a class="moz-txt-link-freetext" href="https://amzn.to/3hWv6rR">https://amzn.to/3hWv6rR</a> <br>
Ulrich Beck – Risk Society: <a class="moz-txt-link-freetext" href="https://amzn.to/3usjwr9">https://amzn.to/3usjwr9</a><br>
Ulrich Beck – World Risk Society: <a class="moz-txt-link-freetext" href="https://amzn.to/3ft7g5k">https://amzn.to/3ft7g5k</a><br>
Ivie – Can ‘Ethical’ Consumption Exist Under Capitalism? (no):
<a class="moz-txt-link-freetext" href="https://www.youtube.com/watch?v=GXUIP0mLgn8&t=0s">https://www.youtube.com/watch?v=GXUIP0mLgn8&t=0s</a><br>
Kaylene C. Williams – Fear Appeal Theory:
<a class="moz-txt-link-freetext" href="https://www.researchgate.net/publication/265807800_Fear_Appeal_Theory">https://www.researchgate.net/publication/265807800_Fear_Appeal_Theory</a><br>
Kim Witte and Mike Allen – A Meta-Analysis of Fear
Appeals:<a class="moz-txt-link-freetext" href="https://www.researchgate.net/publication/12314742_A_Meta-Analysis_of_Fear_Appeals_Implications_for_Effective_Public_Health_Campaigns">https://www.researchgate.net/publication/12314742_A_Meta-Analysis_of_Fear_Appeals_Implications_for_Effective_Public_Health_Campaigns</a><br>
Leigh Singer – Barbaric poetry: can we really film the Holocaust?
<a class="moz-txt-link-freetext" href="https://www.youtube.com/watch?v=AOoIYmrmlSs">https://www.youtube.com/watch?v=AOoIYmrmlSs</a><br>
<a class="moz-txt-link-freetext" href="https://www.youtube.com/watch?v=tooiNm9WmkM">https://www.youtube.com/watch?v=tooiNm9WmkM</a><br>
<br>
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[news archive --wow, it only took 12 years]<br>
<font size="+1"><b>On this day in the history of global warming May
29, 2008 </b></font><br>
The New York Times reports:<br>
<blockquote>"ExxonMobil’s chairman and chief executive, Rex W.
Tillerson, defeated a shareholder effort on Wednesday to take away
one of his jobs at an annual meeting punctuated by a debate of the
company’s policy toward renewable energy and global warming."<br>
</blockquote>
<a class="moz-txt-link-freetext" href="http://www.nytimes.com/2008/05/29/business/29exxon.html?_r=1&">http://www.nytimes.com/2008/05/29/business/29exxon.html?_r=1&</a> <br>
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