Correct. Recall recently the example of the proxy fight at Exxon. Some POS woke company foisted by calpers elected 3 directors so the company would move into renewables (a f in joke). They won last year but were barely beat back this year. These funds have enormous say on what goes on, all under the table of course.
Buffett is CEO of Berkshire. Note he has been buying enormous amount of energy companies mostly OXY. They tried to remove him as CEO inpart because of that. Eventually they will win or he will die and the ESG crowd will put in their guy. We are so screwed.
OXY Is not exempt from the ESG "gods"