![]() Date: 2024-08-16 Page is: DBtxt003.php txt00004167 | |||||||||
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Burgess COMMENTARY And this is tons. How much is this ... really? The size is mind-boggling.
But frankly ... is this really metrics of any value?
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The Carbon Counter
www.know-the-number.comOur Climate is Changing!Please download Flash Player.
The Carbon Counter We are seeking to raise public awareness of climate change. As investors, we know the importance of measurement so that we can track progress. Our approach is to start by understanding the quantity, or concentrations, of long-lived greenhouse gases which are building up in the world's atmosphere and are leading to global warming. We have turned to key scientific sources to calculate the current atmospheric concentrations of greenhouse gases and to monitor how quickly these concentrations are increasing. Our starting point has been the Intergovernmental Panel on Climate Change's (IPCC) Fourth Assessment Report, released in 2007, which details the important long-lived greenhouse gases that contribute to global warming and are driven by human activity resulting in emissions. Using the work from the IPCC, we collaborated with scientists at the Joint Program on the Science and Policy of Global Change at the Massachusetts Institute of Technology (MIT) to update the findings and track these gases in the most timely and up-to-date manner possible. This is a process that relies on regular measurements taken at dozens of sites across the world. In order to show the underlying growth of greenhouse gas concentrations, the effect of natural cyclical phenomena such as the seasons and the El Niño-Southern Oscillation are removed. Aerosols, some caused by pollution, do have a net cooling effect at present, but they are difficult to measure so are not included. Changes in other factors that affect long term accumulation, including economic activity, are reflected in the regular site measurements through an adjustment process that takes place every month when this actual data become available. The lag between the actual and the trend estimate is about three months, with final validation several months later. Greenhouse gas concentrations are frequently expressed as an equivalent amount of Carbon Dioxide (CO2). This CO2-equivalent concentration in parts per million (ppm) can then be expressed in terms of metric ton of CO2, a standard of measurement, which as a stock of gases in the atmosphere is readily understood. According to the IPCC AR4 Synthesis Report, atmospheric CO2 concentrations were 379ppm in 2005. The estimate of total CO2-eq concentration in 2005 for all long-lived GHGs is about 455ppm (see Carbon through History). On June 18th as the counter started, long-lived GHGs in the atmosphere were estimated to be 3.64 trillion metric tons, growing at 2 billion metric tons per month, or 467 ppm, of which CO2 was 385 ppm. The full implications for global warming coming from greenhouse gases are outlined both in the IPCC Synthesis Report (below) and a more recent paper from MIT (also below) looking at the probabilities of warming. To quote MIT's News Office this is 'the most comprehensive modeling yet carried out on the likelihood of how much hotter the Earth's climate will get in this century shows that without rapid and massive action, the problem will be about twice as severe as previously estimated six years ago - and could be even worse than that.' By 2100, surface temperatures could be 5.1 degrees Celsius higher. I-011919-1.0 APPLICATION TOOL LICENSE ... BY OPENING, DOWNLOADING, INSTALLING, SAVING OR OTHERWISE USING THE ATTACHED SOFTWARE APPLICATION TOOL (COLLECTIVELY, THE 'APPLICATION TOOL'), YOU HEREBY AGREE TO THE FOLLOWING: 1. License. 1.1 Deutsche Bank AG, its affiliates and subsidiaries (collectively, 'Deutsche Bank') hereby grant you a non-exclusive, non-transferable, revocable, limited license to use the Application Tool for your internal use only. You agree that the Application Tool contain confidential and proprietary information of Deutsche Bank, its affiliates and/or its licensors and that you will treat it accordingly. You may only use the Application Tool as expressly provided herein. You may not in any way disclose, transfer or retransmit the Application Tool to any unaffiliated third party, including clients. 1.2 Deutsche Bank may change, suspend, terminate, impose restrictions or discontinue any aspect of the Application Tool at any time without notice or liability, including the availability of the Application Tool and any other information, features or functions contained in the Application Tool. 1.3 Deutsche Bank reserves the right to change either the format in which the Application Tool is delivered and/or the data contained therein at any time in its sole discretion, without notice or liability to you. 1.4 Deutsche Bank does not guarantee to deliver the Application Tool in a timely fashion, or at all. 1.5 You shall be solely responsible for providing and maintaining any hardware, software and environmental requirements relating to the Application Tool. For the avoidance of any doubt, you shall be solely responsible for the maintenance of the Application Tool. 2. Termination. At any time upon one-day notice to you, Deutsche Bank may terminate this license. Upon termination, you agree to return to Deutsche Bank or destroy all copies of this Application Tool in your possession or control. 3. Ownership. You acknowledges that Deutsche Bank and/or its licensors retain all right, title and interest in the Application Tool and the data contained therein, including without limitation, all applicable patents, copyrights, trademarks, database and other intellectual property rights in the same. Use of the Application Tool does not confer any ownership rights in the same to you. You may not disclose, copy, create derivative works from, transmit, sell, distribute, transfer or in any way commercially exploit the Application Tool to any unaffiliated party, which shall include your clients. You agree to abide by all applicable copyright laws. You will treat the existence of the terms of this Agreement as confidential, and you agree that any information relating to the Application Tool is confidential to Deutsche Bank and/or its licensors and that you will refrain from disclosing such information to any third party. For the avoidance of doubt nothing in this Section is intended to restrict you from using the Application Tool for your legitimate internal purposes in accordance with the scope of the license granted to it in Section 1 above. 4. Deletion of Application Tool Kit. You agree to immediately comply with any request made by Deutsche Bank to delete the Application Tool that is in your possession, custody or control at the time that such request is received. 5. Disclaimer of Warranties. YOU AGREE THAT YOUR USE OF THE APPLICATION TOOL IS AT YOUR SOLE RISK AND THAT THE APPLICATION TOOL IS PROVIDED 'AS IS' WITHOUT ANY WARRANTIES OF ANY KIND. THE APPLICATION TOOL IS INTENDED FOR INFORMATIONAL PURPOSES ONLY AND AS AN ACCOMMODATION TO YOU. DEUTSCHE BANK EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED INCLUDING, WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. DEUTSCHE BANK MAKES NO REPRESENTATION OR WARRANTY THAT THE APPLICATION TOOL WILL BE ERROR FREE, THAT DEFECTS WILL BE CORRECTED OR THAT THE APPLICATIAON TOOL WILL BE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS OR THAT IT WILL FUNCTION PROPERLY OR AT ALL, ON THE COMPUTER SYSTEM USED BY RECIPIENT. THE DATA CONTAINED IN THE APPLICATION TOOL HAS BEEN OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE, BUTS ITS ACCURACY CANNOT BE GUARANTEED. CHANGES TO ASSUMPTIONS IN THE DATA MAY HAVE A MATERIAL IMPACT ON INDICATIVE RETURNS AND ANY OPINIONS EXPRESSED THEREIN ARE SUBJECT TO CHANGE WITHOUT NOTICE. DEUTSCHE BANK MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER REGARDING THE CURRENCY, ACCURACY OR COMPLETENESS OF THE DATA OR THE RESULTS TO BE OBTAINED BY YOU FROM THE USE OF THE APPLICATION TOOL OR THE DATA CONTAINED THEREIN OR GENERATED THEREFROM. 6. No Advice or Recommendations. DEUTSCHE BANK PROVIDES NO ADVICE WITH RESPECT TO THE USE OF THE APPLICATION TOOL (INCLUDING, WITHOUT LIMITATION, REGARDING THE EXECUTION OF TRANSACTIONS OR ANY LEGAL, TAX, FINACIAL OR ACCOUNTING ADVICE OR ADVICE REGARDING THE SUITABILITY OR PROFITABILITY OF A SECURITY, INVESTMENT OR TRANSACTION). THE APPLICATION TOOL IS NOT INTENDED AS FINANCIAL ADVICE OR AS AN OFFER, SOLICITIATION OR RECOMMENDATION OF SECURITIES OR OTHER FINANCIAL PRODUCTS AND IS NOT PERSONALIZED OR IN ANY WAY TAILORED TO REFLECT YOUR PARTICULAR INVESTMENT OBJECTIVES, FINANCIAL SITUATION OR NEEDS AND YOU SHOULD OBTAIN INDEPENDENT FINANCIAL ADVICE THAT ADDRESSES YOUR PARTICULAR INVESTMENT OBJECTIVES, FINANCIAL SITUATION AND NEEDS BEFORE MAKING INVESTMENT DECISIONS. 7. Indemnity. You agree to hold harmless and to indemnify and keep indemnified Deutsche Bank and its respective directors, officers, employees and agents, from and against any and all third party claims, losses, liabilities, damages, costs and expenses, including reasonable legal expenses, arising out of or relating to your receipt and use of the Application Tool. 8. Limitation on Liability. 8.1 UNLESS OTHERWISE REQUIRED BY APPLICABLE LAW, UNDER NO CIRCUMSTANCES INCLUDING WITHOUT LIMITATION NEGLIGENCE, SHALL DEUTSCHE BANK AND/OR ITS LICENSORS BE LIABLE TO RECIPIENT OR ANY THIRD PARTY FOR ANY DAMAGES OF ANY KIND THAT ARISE OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR THE SUBJECT MATTER HEREOF. 8.2 TO THE FULL EXTENT PERMITTED BY LAW, DEUTSCHE BANK AND/OR ITS' LICENSORS SHALL NOT BE LIABLE FOR ANY LOSS OF PROFITS OR REVENUE, LOSS OF BUSINESS OR GOODWILL, LOSS OF OR DAMAGE TO DATA OR INDIRECT OR CONSEQUENTIAL LOSS ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT AND THE SUBJECT MATTER HEREOF, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH LOSS OR DAMAGE OR IF SUCH LOSS OR DAMAGE WAS FORESEEABLE. 9. Miscellaneous. 9.1 Independent Parties. Neither party is an employee, agent, partner, co-venturer, or legal representative of the other for any purpose. 9.2 Export Control. The parties hereby agree that this Agreement will be subject to any laws, regulations, order or restrictions on the export and/or import of the Application Toolkit, or information about the Application Toolkit, which may be imposed at any time from time to time by the U.S. Government and/or foreign governments, as the case may be. You will not, directly or indirectly, export, re-export, the Application Toolkit, or any information about the Application Toolkit, to any country for which the U.S. Government, a foreign government, or any agency thereof, requires an export or import license or other governmental approval, without first obtaining the same on your behalf. 9.3 Amendments. Deutsche Bank reserves the right to vary or amend the terms and conditions contained herein in any way and at any time. 9.4 Assignment. This Agreement shall not be assignable without the prior written consent of the other party. Any other attempted assignment shall be void. This Agreement shall bind permitted successors and assigns. 9.5 Severability. If any term or provision of this Agreement is held to be invalid or unenforceable, such term or provision shall be ineffective only to the extent of such invalidity or unenforceability and the remainder of this Agreement shall continue in full force and effect. 9.6 Entire Agreement and Amendment. This Agreement contains the entire understanding and agreement between the parties with regard to the subject matter hereof. This Agreement may not be modified or amended except in writing signed by both parties. 9.7 Governing Law. This Agreement is governed by and shall be construed in accordance with the laws of the State of New York, without regard to the conflicts of law provisions thereof. Any action between the parties regarding this Agreement or its subject matter shall proceed in a state or federal court situated in the County of New York, State of New York, and the parties hereby waive any objection they may have in any such proceeding based on lack of personal jurisdiction improper venue or forum non conveniens. 9.8 Waiver. No failure or delay in exercising any right, power, or privilege under this Agreement shall operate as a waiver of it, nor will any single or partial exercise of it preclude any further exercise. I HAVE READ AND ACCEPT THESE TERMS |