climate change at the upcoming annual general meeting.164 One resolution of great importance to the Petitioners calls on Exxon’s Board of Directors to adopt a policy acknowledging the moral imperative to limit global average temperature increases to 2° Celsius above pre-industrial levels, which includes committing the Company to support the goal of limiting warming to less than 2° Celsius. The resolution refers to Pope Francis’ encyclical letter Laudato Si’, which states that “the climate is a common good, belonging to all and meant for all.”165 The Petitioners believe that the Respondent Carbon Majors have both a moral and legal responsibility to the Philippines, Filipinos, and to the world, to conduct business in a manner that will keep global temperature rise this century well below 2° Celsius, and to drive efforts to further limit the temperature increase to 1.5° Celsius above pre-industrial levels. The Respondents have the knowledge, power, and resources to support the rapid transition to 100% renewable energy for all. Conclusion In summary, what the Petitioners are saying is that the production of fossil fuels by the Carbon Majors has been found to be primarily responsible for large amounts of greenhouse gases. The concentration of said gases, especially carbon dioxide in the atmosphere, causes climate change. An estimated 25-30% of the carbon dioxide already emitted by these activities has been absorbed by the oceans166 and is contributing to ocean acidification. !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 164 Interfaith Center on Corporate Responsibility, Exxon Feels the Heat, http://www.iccr.org/exxon-feelsheat (last accessed on Apr.18, 2016). 165 Interfaith Center on Corporate Responsibility, Shareholder Resolution, Acknowledge the Moral Imperative to Limit Global Warming to 2°C: 2016-Exxon Mobil Corporation, http://www.onlineethicalinvestor.org/eidb/wc.dll?eidbproc~reso~12464 (last accessed on Apr. 19, 2016). 166 C. Le Quéré & M.R. Raupach & J.G. Canadell & G. Marland L. Bopp & P. Ciais & T.J. Conway & S.C. Doney & R.A. Feely & P. Foster & P. Friedlingstein & K. Gurney & R.A. Houghton & J.I. House & C. Huntingford & P.E. Levy & M.R. Lomas & J. Majkut & N. Metzl & J.P. Ometto, J.P G.P. Peters & I.C. Prentice & J.T. Randerson & S.W. Running & J.L. Sarmiento & U. Schuster & S.Sitch & T. Takahashi & N. Viovy & G.R. van der Werf & F.I. Woodward, Trends in the Sources and Sinks of Carbon Dioxide, 2 Nature Geoscience, 831 (2009). ! ! ! ! ! 59 !