Energy, which is listed on the New York Stock Exchange as DRLL. Strive launched an ETF in 2022 called Strive U.S. Ramaswamy's firm at the same time focused its investment strategy on fossil fuels. Strive said in a December press release that the oil and gas executive "pushed back on certain points in Strive's letter but committed to exploring suitable directors for Exxon's board with relevant industry expertise." A month after the meeting, Exxon announced it would add Lawrence Kellner, a former CEO of Continental Airlines, and John Harris II, a former CEO of Raytheon International, to its board. Ramaswamy later secured a meeting with Exxon CEO Darren Woods. Ramaswamy, as Strive's executive chairman, sent a letter to Exxon in November saying the company's board "reflects an overrepresentation of directors whose principal focus appears to be on Exxon's climate change strategy." Strive has become one of the more vocal opponents of ESG investing and has gained enough notoriety to challenge the likes of fossil fuel giant ExxonMobil. When asked about the emails showing how the firm has become a leading organizer against ESG investing, Cole said: "I think Strive is the leading voice in America pushing in favor of shareholder capitalism." "We're just copying the playbook of BlackRock, State Street and Vanguard," Cole said Thursday. Strive CEO Matt Cole echoed Ramaswamy's remarks in an interview with CNBC. Ramaswamy on Thursday defended the firm's engagement with GOP officials, saying bigger firms BlackRock, Vanguard and State Street have conducted similar practices with state officials across the country. The messages show Ramaswamy's firm actively engaged with GOP state leaders who have defended the fossil fuel industry and criticized environmentally conscious investment standards. Ramaswamy and his firm have since jumped into the political clash over ESG investing platforms, according to the emails, which were obtained by watchdog Documented and provided to CNBC. When he launched his company last year, Ramaswamy told CNBC that businesses should "focus on excellence over politics." He slammed ESG-style investing by BlackRock, State Street and Vanguard, and accused the firms of using "their clients' capital to advocate for viewpoints in the boardrooms of corporate America that most of their own clients disagree with." Ramaswamy told CNBC in an interview Thursday that he stepped away from his role as executive chairman of the firm and is no longer on its board while he runs for president. The emails show how the firm, Strive Asset Management, became a lead organizer and voice against environmental, social and governance, or ESG, investing, both before and since Ramaswamy entered the presidential race in February. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
0 Comments
Leave a Reply. |