88th LegislatureEnergyStatewide News‘Fiduciary Responsibility’: The Two Words at the Center of the ESG Fight in Texas
The table is set for a second wave of legislation taking aim at ESG in the Texas Legislature.
The table is set for a second wave of legislation taking aim at ESG in the Texas Legislature.
BlackRock will headline the list of testifiers at the Thursday committee hearing in East Texas.
The Permanent School Fund, while not a pension, disclosed it had investments in BlackRock-managed funds it says are exempt from SB 13.
The statements come after Texas listed BlackRock among its tally of "fossil fuel-boycotting" companies, priming it for pension dollar divestment.
The Texas Legislature enacted a law last year that prevents state agencies from investing in companies that “boycott” the fossil fuel industry.
In its response, the financial company objected to the accusations of oil and gas divestment made by the state attorneys general.
The list will be updated as frequently as each quarter and companies may be added or subtracted from it as developments occur.
The financial titan has been accused of saying one thing in public and doing another behind closed doors.
When asked if they hold policies of boycotting oil and gas development, one company said "Hell no."
This second round comes as the comptroller looks to narrow down a list of companies from which to pull any state investments.
The company is currently being evaluated for allegedly promoting fossil fuel divestment policies by the state's top fiscal officer.
The first round of letters was sent out to companies that the comptroller identified to have oil and gas divestment policies.