Republicans in states including West Virginia and Kansas have introduced legislation similar to that in Texas, which bans government agencies from investing with firms seen as cutting ties with the energy industry.įlorida Governor Ron DeSantis led a move to strip Walt Disney Co. The mounting pressure in Texas reflects a broader effort by Republicans nationwide to scrutinize companies that back policies championed by many Democrats, such as reducing carbon emissions, securing abortion rights or supporting LGBTQ teaching in schools. Firms that end up on the list will face restrictions on doing business in the state, possibly losing out on managing billions of dollars in public-pension assets, for example. His goal: compile a list of companies that, under Texas law, are deemed to be “boycotting” the fossil-fuel industry. Hegar’s salvo follows a first round of inquiries sent last month to 19 companies, including BlackRock Inc.
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