Last month, the Securities and Exchange Commission released a new rule for public comment that would require public companies to report the climate-related impact of their businesses. Since it has been well established in multiple IPCC reports that the human impact on climate has never been…
Last month, the Securities and Exchange Commission released a new rule for public comment that would require public companies to report the climate-related impact of their businesses. Since it has been well established in multiple IPCC reports that the human impact on climate has never been observed, only modeled, this seems unnecessary.
The SEC proposed rule erroneously gives the impression that destructive climate events are increasing in frequency. This is not so. Since 2000, as data from EM-DAT shows, climate-related natural disasters are down overall. Extreme weather events, wildfires, landslides, and droughts were all less common in 2019 than they had been in 2000. The number of annual floods peaked over 200 around 2006 and has never since attained that level again.
The SEC document claims that: “the impact of climate-related risks on both individual businesses and the financial system as a whole are well documented.” This does not seem to be the case. Recent research by Professor Roger Pielke Jr., Dr. Bjorn Lomborg, and data from the EM-DAT disaster database all show the impact of climate change, both of natural and human origin, is declining.
When considering the horrible suffering of people in the Northern Hemisphere during the Little Ice Age due to cold and drought, one should not just assume that a warmer climate is worse than a colder one. During the Little Ice Age, cold and a lack of food led people to conduct horrible persecutions of Jews and “witches” in an effort to find a scapegoat.
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