News Clips: Week of August 15, 2016

Aug 16, 2016
Blog Post

These are the dog days of summer, and there’s no better reminder of this than an update on what’s shaping up to be the hottest year on record.  Here are a couple items you should know about this month:

 

The hottest month on record, ever, was July 2016 (since modern record-keeping began). 

https://mashable.com/2016/08/15/earth-hottest-month-july-2016/#KZ_E1XlYVGqO

According to NASA, global average surface temperatures during July were 0.84 degrees Celsius, or 1.51 degrees Fahrenheit, above average. This beats all previous Julys, with July 2011 coming in second at 0.74 degrees Celsius above average. “

 

Today, the White House announced new fuel efficiency standards for medium- and heavy-duty vehicles.

https://www.washingtonpost.com/news/energy-environment/wp/2016/08/16/white-house-sets-new-fuel-efficiency-standards-for-heavy-duty-trucks-vans-and-buses/

"The new requirements affect a class of vehicles that includes school buses, large pickup trucks, delivery and passenger vans, garbage trucks and long-haul tractor-trailers. These heavy- and medium-duty vehicles represent only about 5 percent of total highway traffic but account for 20 percent of transportation-related fuel consumption and carbon emissions. Administration officials said they expect that when the new standards are fully implemented in coming years, they will cut more than 1 billion tons of carbon pollution from the atmosphere, save nearly $170 billion in fuel costs and reduce oil consumption by an estimated 84 billion gallons.” 

 

Companies don’t report climate risks consistently in SEC filings.

https://www.scientificamerican.com/article/climate-risk-is-poorly-represented-in-company-financial-filings/

“When issuing marketing materials and press releases, U.S. companies frequently warn that rising global temperatures could cost them money. They tout specific green projects, like solar roofs and increased efficiency. But when it comes time to report to the Securities and Exchange Commission, the same companies stick to broad terminology and sanded-down statements.”