worth of time to reverse climate change” and fuelled the human rights impacts being experienced today.158 b.2.2. Corporate Responsibility & Moral Imperative: Exxon Shareholder Resolutions In a departure from previous years, the U.S. Securities and Exchange Commission recently decided, over objections from the company, that Exxon must allow shareholders to vote on a number resolutions related to climate change at the upcoming annual general meeting.159 One resolution of great importance to the Petitioners calls Exxon’s Board of Directors to adopt a policy acknowledging the moral imperative to limit global average temperature increases to 2° Celcius above pre-industrial levels, which includes committing the Company to support the goal of limiting warming to less than 2° Celcius. 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.”160 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 oceans, causing ocean acidification. The adverse impacts of climate change and ocean acidification have brought harm or pose the threat of harm to people, on top of or in addition to, damage resulting from natural disasters. These harms resulting from the impacts of climate change and ocean acidification affect the exercise and enjoyment of Filipinos’ human rights to (a) to life; (b) to the highest attainable standard of physical and mental health; (c) to adequate food; (d) to water (e) to sanitation; (f) to adequate housing; (g) to self-determination; and (h) the human rights of !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 158 350.org and other participating organizations, #ExxonKnew, available at www.exxonknew.org (last accessed on Apr. 19, 2016). 159 Interfaith Center on Corporate Responsibility, Exxon Feels the Heat, http://www.iccr.org/exxon-feels-heat (last accessed on Apr.18, 2016). 160 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). ! 46! ! ! ! ! !