Vivek Ramaswamy’s Strive Asset Management To Uproot ESG Moves At Three Major Companies

Strive Asset Management revealed a plan Tuesday to spurn risks presented to the shareholders of ExxonMobil, Chevron, and Home Depot by the environmental, social, and governance movement, also known as ESG.

The series of actions, first shared with The Daily Wire, will be executed next year to prevent the companies from “prioritizing ESG over excellence,” according to a press release from Strive, which believes that its “greatest opportunity to influence positive outcomes for shareholders” through resolutions exists at the three firms.

Strive Executive Chairman Vivek Ramaswamy sent a letter to ExxonMobil CEO Darren Woods last month suggesting the addition of a “suitable director to your board ahead of preparations for next spring’s proxy voting season.” After a meeting between Ramaswamy and Woods, ExxonMobil appointed two new board directors; Strive will now support the nomination of a third director to “boost diversity of thought in its boardroom surrounding the ‘energy transition’ debate,” according to the press release.

Exxon enacted a shareholder resolution in January committing the oil company to pursue net zero emissions by the year 2050. Last year, a small ESG activist investment firm controlling 0.02% of shares in ExxonMobil won three board seats with the help of asset managers BlackRock, Vanguard, and State Street.

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“While climate change is one of many factors that may influence decision-making at Exxon, we are concerned that singularly focusing on this risk factor at the expense of other considerations creates new long-run risks,” Ramaswamy wrote to Woods, “including the very real risk of underinvesting in fossil fuels to match global demand.”

With respect to Chevron, Strive will introduce a proposal that would reverse Scope 3 emissions reduction benchmarks enacted last year via shareholder resolution. The benchmarks, which were supported by BlackRock, Vanguard, and State Street, would require the company to reduce fossil fuel usage among entities in the Chevron value chain.

Strive also co-authored a shareholder resolution for Home Depot that would undo an earlier proposal supported by BlackRock and Capital Group to conduct a “racial equity audit.” Strive contends that all hiring at the home improvement retailer “should be based exclusively on merit, without regard to social considerations which may raise legal liabilities for the company.”

The fund will launch proxy campaigns or additional shareholder resolutions in the spring if the latter two proposals do not “effectuate positive change.”

Strive was launched earlier this year with the intention of pushing portfolio companies to maximize profits instead of advancing social and political causes favored by executives. PayPal co-founder Peter Thiel and Pershing Square Capital Management Chief Executive Bill Ackman were among the company’s first financial backers.

Critics of the ESG movement say that proponents blend activism with profitability in a manner that harms shareholders through lower returns. Though there are a considerable number of investors who support executives using financial power to achieve certain social objectives, a clear majority of investors would prefer political neutrality and the sole maximization of profits, according to an exclusive poll from The Daily Wire released earlier this year.

Ramaswamy, a former biopharmaceutical entrepreneur, has repeatedly criticized BlackRock and other rival asset managers for compelling portfolio companies into adopting left-wing agendas unrelated or antithetical to their bottom lines. The founding of Strive occurred as multiple conservative-leaning states began implementing measures to divest from BlackRock, Vanguard, and State Street.

Actress Kate Winslet ‘Traumatized’ From ‘Titanic,’ Says Testosterone-Hating Director James Cameron

Movie director James Cameron said in a recent interview that “Titanic” actress Kate Winslet was “traumatized” from making the blockbuster film.

The remarks from Cameron come after he gave an interview with The Hollywood Reporter at the end of November about the second film of the Avatar movie franchise — “Avatar: The Way Of Water” — which took a decade to make and hits theaters later this month.

Cameron and Winslet reunited at an event for the upcoming movie, which hits theaters on December 16.

While speaking to the press, Winslet said that she might watch “Titanic” in honor of the 25th anniversary since the film was released but cautioned that she hates watching films that she has appeared in.

“Well, I might. I mean, I’m just not very good at watching myself on screen. It’s not just ‘Titanic,’ like I don’t like watching myself in anything,” she said on Monday. “I guess I probably will watch it.”

“I’m 47 years old now, guys, and I turned 21 when we were shooting that movie. So, it’s like half my lifetime ago,” she added. “It’s amazing and incredible to have been part of something that’s, you know, so steeped in nostalgia for people and still resonates with people in the way that it does. It’s a huge, huge honor that people still love something that I was a part of all those years ago.”

In an interview with the Radio Times, Cameron said that he thought Winslet “came out of ‘Titanic’ a bit traumatized by the scale of the production and her responsibility within it.”

“We’ve both been eager over time to work together again, to see what the other is about at this point in our lives and careers,” he added. “She’s very large and in charge on set. You’d swear she was producing the film.”

In his November interview with The Hollywood Reporter, Cameron said that testosterone was a “toxin” that men should work out of their system.

Cameron, 68, said that he has changed as he has gotten older as his “F-bomb-laden shouting matches with executives is behind him,” the publication said.

“A lot of things I did earlier, I wouldn’t do — career-wise and just risks that you take as a wild, testosterone-poisoned young man,” he said. “I always think of [testosterone] as a toxin that you have to slowly work out of your system.”

During the interview, Cameron said that Leonardo DiCaprio’s “diva-like attitude” nearly cost him the iconic role of Jack in the 1997 blockbuster “Titanic.”

Cameron explained that his first meeting with DiCaprio actually went very well — although he noted that he was amused by the fact that all of the women associated with the production suddenly had a reason to be in the room for the actor’s first appearance.

“There was a meeting with Leo and there was a screen test with Leo,” Cameron reflected, adding, “So the meeting was funny, because I’m in my conference room waiting to meet an actor, right? And I look around, and all the women in the entire office are in the meeting for some reason. Like, there’s a female executive producer, okay, fine. But our accountant? You know, why was she in the meeting?”

Cameron laughed again, saying that he realized as he looked around the room that they had all just wanted to meet DiCaprio.

“So Leo came in — of course, charmed everybody, myself included,” Cameron continued, noting that actress Kate Winslet had already been chosen to play the part of Rose. “And I said, ‘Alright, let’s see what your chemistry’s like with Kate.’”

So DiCaprio was asked to come back for a meeting with Winslet, and he agreed — but when he arrived and Cameron asked him to read with her, the “Romeo + Juliet” star balked.

“He said, ‘You mean I’m reading?’” Cameron recalled. “And I said, ‘Yeah.’ He said, ‘Oh, I don’t read.’”

The “Avatar” director’s response was to immediately thank DiCaprio for his time, at which point Cameron said the actor back-pedaled quickly. “He said, ‘Wait, wait, wait. You mean if I don’t read, I don’t get the part? Just like that?’”

Cameron said his reply was simple: “I said, ‘Oh, yeah. Come on. This is, like, a giant movie that’s gonna take two years of my life … so I’m not gonna f*** it up by making the wrong decision in casting. So you’re gonna read, or you’re not gonna get the part.’”

Virginia Kruta contributed to this report.