ZE DataWatch eMagazine – June 2013
I’m not sure if Barack Obama’s June 25 presidential climate change speech could beat anything else this month in its prominence and tentative consequences for the energy, commodity and financial markets. For the most part, it did not surprise many. Mr. Obama went full speed ahead in his fight against carbon polluters.
When the Intergovernmental Panel on Climate Change (IPCC) published its Fourth Assessment Report in 2007 and affirmed that global warming is anthropogenic, its climate model projections indicated that, without immediate intervention to reduce our greenhouse gas emissions, global surface temperature would rise by 1.1°C to 6.4°C within the century and cause extreme weather events, such as floods, droughts, and heat waves, to name a few.