【出版时间及名称】：2010年4月全球气候行业研究报告
        【作者】：汇丰银行
        【文件格式】：pdf
        【页数】：44
        【目录或简介】：

Disappointment at Copenhagen
followed by doubts over the science
have created a powerful headwind for
investors in the climate change theme
 In this report, we review the underlying
science of climate change, and find that
the evidence of warming and its impacts
has generally strengthened since 2007
 We expect a series of independent
enquiries to reaffirm the underlying
science, providing the basis for a
renewal in public confidence as the
global economy recovers
Testing the foundations
The climate agenda has had a hard winter. A weak outcome
from Copenhagen has been compounded by the high-profile
furore over climate science. The hacking of emails between
climate scientists at the Climate Research Unit (CRU) in
November was followed in January by the revelation of an
embarrassing mistake in the Intergovernmental Panel on
Climate Change’s (IPCC) most recent report on melting
glaciers in the Himalayas. On the back of this, a host of
additional charges were levelled at the IPCC and the wider
science community, challenging public trust and thereby
potentially undermining political commitment to action.
Spring is now arriving. Intense focus on the science has so
far revealed no evidence of scientific malpractice. Scientific
procedures, methods and transparency can certainly be
improved – and will be. The fundamental science of climate
change remains unequivocal and in many respects has
become more serious since the IPCC last reported in 2007.
Equity values of climate investments have certainly
underperformed, with the HSBC Climate Change Index
rising 2.1% compared with 4.8% for MSCI World between
17 November and 23 April 2010. We expect confidence to
return in the second half of 2010 as the global economy
recovers and independent reviews reaffirm the severity of
the climate threat.