Texas dangerously inserts politics into pension investing

In Politics by Michael Rae

The Texas Comptroller of Public Accounts recently published a list of 10 financial firms and 348 funds it considers hostile to the fossil fuel industry from which the state’s pension funds must disinvest. Comptroller Glenn Hegar compiled the list in compliance with Senate Bill 13 (2021), a law stating Texas pension funds and government agencies cannot invest in companies that divest from fossil fuels.

It is understandable for state policymakers to want to push back against an environmental governance social investment (ESG) movement that they view as threatening to Texas’ oil and gas industry, but just as some progressive states are

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