Economics & Growth | ESG & Climate Change
The Real Facts About Global Warming
- By John Tierney
- 7 min read
Everyone knows the weather has changed over the past few decades. We see hotter summers, more storms, extensive wildfires in California and Australia, and shorter winters. Former president Donald Trump arguably won one election and lost another because voters disagreed on (among other things) whether these changes fall within normal weather variation or reflect broader and more permanent climate change due to manmade greenhouse gas (GHG) emissions.
But few are waiting to find out. Exxon shareholders recently elected two new board members who pledged to reduce the company’s reliance on fossil fuels. Companies worldwide are facing increasing pressure from activist investors to improve the ‘E’ in their environmental, social and governance (ESG) scores. And policymakers are trying to set policies to limit global warming to 1.5°C over preindustrial levels, or at least well below 2°C. President Joe Biden has announced a goal of halving GHG emissions by 2030.
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