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Costly signals needed to deliver inconvenient truth
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A little over half the world’s population sees climate change as a serious problem (54% according to a 40-nation Pew Research survey). Coincidentally, roughly the same number identify as Christian or Muslim (55%).
On the one hand, these statistics speak to the success of climate change communication. In just a few decades, climate scientists have convinced a large part of the world’s population that a set of powerful, invisible forces have important implications for the way we live. World religions took centuries to achieve similar success.
On the other hand, religion spreads without the support of empirical evidence and is capable of generating changes in people’s behaviour that climate scientists would envy. Religion pervades almost every aspect of the lives of believers, from the food they eat to what they do on the weekend. We argue that scientists can take lessons from this.
Actions louder than wordsOne way that religions succeed is to focus not just on what adherents say, but what they do. A key strategy is to encourage or require adherents (including leaders) to engage in behaviours that act as signals of commitment to their beliefs. Followers, for example, may be asked to dress in distinctive (often impractical) garb, engage in regular rituals in public (sometimes multiple times a day), or abide by seemingly arbitrary dietary restrictions.
Even more is required of leaders, from highly restricted diets, giving up worldly possessions, to lives of celibacy. The costs of these behaviours make them hard-to-fake signals of sincerity that help spread belief to otherwise sceptical outsiders and bolster support among followers.
We like to think that science is completely different. While religion is dogmatic and based on faith, science is continually questioning, grounded in the scientific method and the many useful predictions and technologies that emerge from it.
But we do not, as individuals, test all the claims that scientists and science communicators make. Out of practical necessity, we must all take a good deal of what science tells us, as well as it’s implications for how we should live our lives, on trust.
Sending signals of commitmentAl Gore’s 2006 movie An Inconvenient Truth was hailed as a turning point in public awareness of climate change, but it also attracted heated criticism. Some criticism was directed at the movie’s content, but much was also made of Gore’s apparent hypocrisy, including his use of private jets, home energy consumption and acquisition of beachfront property.
While ad hominem attacks do not undermine the factual claims made in the movie, Gore’s actions undoubtedly reduced the credibility of his message to some people. If he is still flying extensively and buying up beachfront property, how bad can the problem really be?
We argue that because all of us, scientists and non-scientists alike, must take much in science on trust, behavioural signals are potentially just as important to the spread of scientific knowledge as they are to that of religion. It does not follow that science and religion stand on the same epistemological foundations; rather it is an acknowledgement that trust in the vast stocks of scientific knowledge and its implications can only be established by any one individual using non-scientific means.
Going beyond talkScientists and science communicators should therefore be prepared to make better use of signals, particularly costly signals, to demonstrate they are truly committed to what they are advocating.
Whether or not An Inconvenient Truth was undermined by apparent hypocrisy, it was a lost opportunity on Gore’s part. If, for example, he had sold his energy-intensive mansion and refused to fly to his engagements, he could have sent a credible signal to the public that he was personally deeply concerned about the threat of climate change. As his new movie, An Inconvenient Sequel, is released around the world, he has another opportunity to bolster his argument with action.
We do not wish to lambast leading climate change communicators for hypocrisy. There are plenty of others who do that already. But our point is this: although the validity of scientific ideas should be independent of their messenger, our actions matter for generating the kind of deep commitment to scientific evidence that will be required to tackle the problems of our time. Scientists and science communicators need to focus not just on what we say, but on the signals we send via our actions.
Our personal action planOur own first step in this direction is a commitment to forgo air travel in 2018 as a costly signal of our belief in the need for urgent action on climate change. By far our largest contribution to greenhouse gas emissions is flying to academic conferences. A single return flight from Auckland to London is roughly equivalent to the average annual carbon dioxide emissions per capita of New Zealand.
Carbon offsets are one way to address emissions from flying, but (efficacy aside) they are controversial and tend to be cheap and invisible, which makes them ineffective as credible signals of commitment.
We make our commitment to forgo flying publicly and challenge other senior academics to do likewise. Forgoing flying, particularly for those in New Zealand and Australia, carries costs in that networking and exposure to new ideas can become more difficult. Giving a speech at an international conference is highly prestigious for an academic, and in New Zealand it is one of the criteria in our national research assessment exercise.
With careful planning, we believe we can overcome some of the costs in forgoing opportunities to travel. We intend to make better use of prerecorded talks and video conferencing and support local and online conferences and research networks. By committing to these practices, and encouraging others to do the same, scientists can demonstrate that change is possible and send a powerful signal that they are personally committed to action on climate change.
![The Conversation](https://counter.theconversation.edu.au/content/82380/count.gif)
The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond the academic appointment above.
Climate change is a financial risk, according to a lawsuit against the CBA
The Commonwealth Bank of Australia has been in the headlines lately for all the wrong reasons. Beyond money-laundering allegations and the announcement that CEO Ian Narev will retire early, the CBA is now also being sued in the Australian Federal Court for misleading shareholders over the risks climate change poses to their business interests.
This case is the first in the world to pursue a bank over failing to report climate change risks. However, it’s building on a trend of similar actions against energy companies in the United States and United Kingdom.
Read more: Why badly behaving bankers will never fear jail time
The CBA case was filed on August 8, 2017 by advocacy group Environmental Justice Australia on behalf of two longstanding Commonwealth Bank shareholders. The case argues that climate change creates material financial risks to the bank, its business and customers, and they failed in their duty to disclose those risks to investors.
This represents an important shift. Conventionally, climate change has been treated by reporting companies merely as a matter of corporate social responsibility; now it’s affecting the financial bottom line.
What do banks need to disclose?When banks invest in projects or lend money to businesses, they have an obligation to investigate and report to shareholders potential problems that may prevent financial success. (Opening a resort in a war zone, for example, is not an attractive proposition.)
However, banks may now have to take into account the risks posed by climate change. Australia’s top four banks are heavily involved in fossil-fuel intensive projects, but as the world moves towards renewable energy those projects may begin to look dubious.
Read more: How companies are getting smart about climate change
As the G20’s Taskforce on Climate-Related Financial Disclosures recently reported, climate risks can be physical (for instance, when extreme weather events affect property or business operations) or transition risks (the effect of new laws and policies designed to mitigate climate change, or market changes as economies transition to renewable and low-emission technology).
For example, restrictions on coal mining may result in these assets being “stranded,” meaning they become liabilities rather than assets on company balance sheets. Similarly, the rise of renewable energy may reduce the life span, and consequently the value, of conventional power generation assets.
Companies who rely on the exploitation of fossil fuels face increasing transition risks. So too do the banks that lend money to, and invest in, these projects. It is these types of risks that are at issue in the case against CBA.
What did the CBA know about climate risk?The claim filed by the CBA shareholders alleges the bank has contravened two central provisions of the Corporations Act 2001:
companies must include a financial report within the annual report which gives a “true and fair” view of its financial position and performance, and
companies must include a director’s report that allows shareholders to make an “informed assessment” of the company’s operations, financial position, business strategies and prospects.
The shareholders argue that the CBA knew – or ought to have known – that climate-related risks could seriously disrupt the bank’s performance. Therefore, investors should have been told the CBA’s strategies for managing those risks so they could make an informed decision about their investment.
Read more: We need a Royal Commission into the banks
The claim also zeros in on the lengthy speculation over whether the CBA would finance the controversial Adani Carmichael coal mine in Queensland. (The bank has since ruled out financing the mine.) The shareholders assert that the resulting “controversy and concern” was a major risk to the CBA’s business.
Global litigation trendsWhile the CBA case represents the first time worldwide that a financial institution has been sued for misleading disclosure of climate risk, the litigation builds on a broader global trend. There have been a number of recent legal actions in the United States, seeking to enforce corporate risk disclosure obligations in relation to climate change:
Energy giant Exxon Mobile is currently under investigation by the Attorneys General of New York and California over the company’s disclosure practices. At the same time, an ongoing shareholder class action alleges that Exxon Mobile failed to disclose internal reports about the risks climate change posed to their oil and gas reserves, and valued those assets artificially high.
Similar pathways are being pursued in the UK, where regulatory complaints have been made about the failure of major oil and gas companies SOCO International and Cairn Energy to disclose climate-related risks, as required by law.
In this context, the CBA case represents a widening of litigation options to include banks, as well as energy companies. It is also the first attempt in Australia to use the courts to clarify how public listed companies should disclose climate risks in their annual reports.
Potential for more litigationThis global trend suggests more companies are likely to face these kinds of lawsuits in the future. Eminent barrister Noel Hutley noted in October 2016 that many prominent Australian companies, including banks that lend to major fossil fuel businesses, are not adequately disclosing climate change risks.
Hutley predicted that it’s likely only a matter of time before we see a company director sued for failing to perceive or react to a forseeable climate-related risk. The CBA case is the first step towards such litigation.
![The Conversation](https://counter.theconversation.edu.au/content/82505/count.gif)
Anita Foerster receives support from Australian Research Council Discovery Project – DP 160100225, ‘Developing a Legal Blueprint for Corporate Energy Transition’.
Jacqueline Peel receives support from Australian Research Council Discovery Project – DP 160100225, ‘Developing a Legal Blueprint for Corporate Energy Transition’.
Pen Hadow sets sail for North Pole as Arctic ice melts
Hundreds feared dead in Sierra Leone after mudslides – video report
Sierra Leonean emergency services and aid agencies are working to find victims of the heavy mudslides and flooding which devastated areas around the country’s capital Freetown on Monday. Thousands of people are still missing
Continue reading...Bolivia approves controversial highway in Amazon biodiversity hotspot
Major 190-mile road will strip national park and home to thousands of indigenous people of its protected status, making it vulnerable to deforestation
Bolivia has given the go ahead to a controversial highway which would cut through an Amazon biodiversity hotspot almost the size of Jamaica and home to 14,000 mostly indigenous people.
President Evo Morales enacted the new law opening the way for the 190-mile (300km) road through the Isiboro Sécure Indigenous Territory and National Park, known as Tipnis, its Spanish acronym. The road will divide the park in two and strip it of the protections won in 2011 when a national march by thousands of protesters ended in clashes with the police and forced the government to change its position.
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Extreme weather across southern Europe has spawned and fanned numerous wildfires, including at the beach resort of Kalamos near Athens and in central Portugal
Continue reading...Coal communities lead march to clean energy
Sci-fi nightmares play out beneath the flowers
Dunwich Heath, Suffolk Brilliantly coloured jewel wasps use the living bodies of other insects to nourish their larvae
Much of the basic storybook that supplies the raw materials for horror films and novels seems to me to be derived from entomology. And here, at this place of autumn purple and gold, scattered thinly all along the sandy paths that bisect the billowing tides of flowering heather, was a particular inspiration.
It was a tiny 1cm-long creature that looked as brilliant an insect as I have seen in this country. The mid-thorax, hind legs and head were all glittering turquoise, while the abdomen and front thorax were shining burgundy. The unmistakable colours distinguish a small group that are known as jewel or ruby-tailed wasps (in German they are called Goldwespen, gold wasps), of which there are about 30 species in Britain. The commonest is one I see regularly even about our house, where they burrow into crevices among the loose masonry.
Continue reading...David Whaley - University of South Australia
David Whaley - University of South Australia
Dr David Whaley is an Electrical and Electronic Engineer who works as a teaching and Research academic within the Barbara Hardy Institute / School of Engineering, at the University of South Australia. He is part of a small team that work in the Sustainable Energy Centre, which currently conducts research on low-energy housing and technologies. He has authored or co-authored 9 journal papers and 27 conference papers in these areas over the past 8 years. David also currently teaches a course regarding renewable energy technologies, the current Power Systems, and the integration of both. Finally,David is a member of the IEEE, Engineers Australia and the Alternative Technology Association.
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