As financial reports are disseminated quarterly and stock performances analysed in real-time to investors, there is one determinant that the majority of companies are providing incomplete, misleading, or obscure information for. Worse, they are conveniently blaming disappointing financial results on it, and yet not employing the appropriate risk management strategies to address it. Investors deserve better.
The Chief Financial Officer in providing second-quarter results, including a profit decline of 4%, is asked to explain the disappointing results. His answer? “I hate to use the weather, but a lot of it was the weather.” “We are an industry that is susceptible to weather,” he explained further.
If you are thinking this is a mom-and-pop operation, a start-up, or a tourism operator, you would be wrong on all counts.
DOI: 10.15200/winn.142960.03016 provided by The Winnower, a DIY scholarly publishing platform
Percy Bysshe Shelley famously asked, “If winter comes, can spring be far behind?”. But as the spring equinox approaches in one week, that long anticipated date in March when the Northern Hemisphere welcomes the end of winter, an unusual thing has happened in an unexpected place.
The quiet little Italian village of Capracotta in the Molise region of southern Italy is claiming to be one of the snowiest places in the world after it was smothered under more than eight feet of snow in less than 24 hours earlier last week.
DOI: 10.15200/winn.142960.03096 provided by The Winnower, a DIY scholarly publishing platform
The coming seasons will hit their lands the hardest, the extreme weather brought on by climate change placing them in a state of warning and constant vigilance. For millions of smallholder farmers in the developing world, the dire warning “Winter is Coming”, from the imaginative mind of the writer of Game of Thrones, is that which they must accept as their harsh reality, as natural forces are increasingly disrupted, disruptive and extreme.
They call it the dzud.
The harsh and unsettling name is suggestive of the reality it describes: a drought followed by a very heavy winter snow, winds and brutal cold temperatures. Cattle will die, food security will worsen, livelihoods will be put in jeopardy, the poorest of the poor will be hit the hardest.
DOI: 10.15200/winn.142960.03176 provided by The Winnower, a DIY scholarly publishing platform
In the last week, record-breaking cold temperatures hit the eastern half of the US and Canada, powerful cyclones slammed Australia, and a devastating drought rages on in Brazil. At the same time, there is no scientific body of national or international standing now disputing the human contribution to climate change.
So why is hardly anyone compelled to do hardly anything about it? Could it be possible that the answer to the climate change crisis is not in our will to keep the planet and ourselves alive … but to keep our bank balances in the black?
DOI: 10.15200/winn.142960.04578 provided by The Winnower, a DIY scholarly publishing platform