Public-private partnerships are a critical component of the progressive globalist agenda. These partnerships occur when the government encourages private companies to do things that are prohibited by law. These partnerships are made visible when large asset managers try to link investment with corporations that adopt environmental, social, and governance (ESG), policies. Large investment firms make demands that are very similar to those of the Biden administration regarding social justice and green issues.
Recent examples include activist investment firms pushing companies into supporting abortion policies as part of the S. in ESG. Fox News’s recent opinion piece reveals that corporations felt immense “social” pressure after the Dobbs decision.
There is increasing pressure to include provisions that encourage abortion in a company’s “Environmental, Social and Governance (ESG) policies. ESG scores companies based on their social and political policies. This score is not related to core business activities. This is how the most powerful American fund managers, such as Vanguard, State Street, and BlackRock, have secretly adopted extreme policies.
ESGs are the reason why the oil and natural gas industry is experiencing a shortage in refining capacity. ESGs are also the reason Dodge is phasing out the muscle car. “Diversity, Equity, and Inclusion” (DEI), training is offered in all corporate sizes. ESG principles and policies require certain behavior changes now, as well as changes to business plans in the future. Although there are many smart CEOs, large investment firms often pressure corporate leaders to make decisions that will yield the highest profit and the greatest increase in shareholder value.
Large investment companies achieve their ESG goals by proxy voting and placing people on the company board. Proxy voting is when BlackRock or another investment company votes on behalf of their investors. This method was used by BlackRock with Exxon Mobil in May 2021. BlackRock was Exxon’s second-largest shareholder and backed three activists that wanted to push Exxon toward renewable energy investments.
BlackRock placed all three activists they backed through proxy votes and negotiations with large institutional investors. BlackRock funds are used by millions of Americans through their 401Ks, pensions, and other investment vehicles. BlackRock has specific policies that will make fossil fuels more costly and scarcer, according to almost everyone. Vanguard and State Street follow similar strategies and push ESG policy, often with Americans paying the price at the pump.
One investment company is challenging the status quo. Strive Asset Management has launched DRLL, a new market fund. Vivek Ramaswamy, co-founder and executive chairman of Strive Asset Management has been making media rounds to present Strive’s value proposition. Strive created a fund to match the BlackRock fossil fuel holdings. This will allow Strive to represent investors who want the fossil oil industry to grow and prosper.
Ramaswamy stated that “The goal was to restore the voice of the everyday citizen in corporate America where they haven’t been heard.” He also said that BlackRock and State Street own controlling interests in almost every major corporation in America. They are using the capital of their clients to promote viewpoints in corporate America’s boardrooms that many of their clients don’t agree with.
Early investors included Bill Ackman and Joe Lonsdale as well as Peter Thiel and Joe Lonsdale. The fund’s value has risen from $20 million to more than $100 million since Ramaswamy rang Wall Street’s closing bell last week. Strive’s first fund in the market is DRLL. Ramaswamy stated to Fox Business that ESG investment is a fiduciary violation and Strive Asset Management will correct it.
It is not clear if these investment companies are meeting their fiduciary obligations toward their investors. Simply put, investors can expect that BlackRock or any other investment company will keep their money safe and profitable. They balance risk and reward by following the advice of individual investors. They appear to be using money from other investors to pursue the same political goals, green energy, and abortion rights as the Biden government.
It is a David vs. Goliath battle to destroy the ESG dreams and investments of the largest investment companies in the world. Ramaswamy believes that once enough Americans are educated about the practices of the largest investment companies, they will be able to demand that change is made. He believes they will vote with their investment money and join Strive to tell America’s oil producers to drill, drill again, and drill more.
The post A New Investment Fund Is Taking the Fight Over ESGs to the Boardroom appeared first on Conservative Research Group.
