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. and lesser-known players like Angel Oak Capital Advisors. The firms include private equity giants such Blackstone Inc. State Comptroller Glenn Hegar is demanding that more than 140 financial firms disclose their climate policies - and whether they restrict or prohibit doing business with energy companies. (Bloomberg) - Texas Republicans are intensifying their campaign against Wall Street’s embrace of sustainable investing.
