Exxon Opposes Request to Take Moral Responsibility for Climate Change

"Opposing a shareholder resolution, Exxon says the call to accept responsibility for global warming and support the 2 degrees Celsius goal is 'vague.'"

"Oil giant ExxonMobil moved to reject a shareholder proposal calling for the company to assert moral leadership on climate change and pledge to work toward limiting global warming to 2 degrees Celsius or less.

In a letter to securities regulators, the company said the resolution filed by a faith-based organization is "vague and indefinite." Exxon also said it’s unnecessary for shareholders to consider the proposal at the annual stockholders meeting on May 25 because the company has already taken steps to tamp down global warming. The resolution was filed by the New Jersey-based Tri-State Coalition for Responsible Investment.

While social responsibility groups have been demanding action on climate change from Exxon for decades, the Tri-State resolution is the first to call on the company to acknowledge moral responsibility. Over the past 25 years, shareholders have submitted 62 climate change-related proposals to Exxon, according to an InsideClimate News review of shareholder resolutions. Of those, 22 were either withdrawn or blocked by the company. None of the remaining 40 got enough votes to pass."

David Hasemyer reports for InsideClimate News February 3, 2016.

Source: InsideClimate News, 02/05/2016