{"id":1622954,"date":"2022-08-26T10:34:39","date_gmt":"2022-08-26T14:34:39","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1622954"},"modified":"2022-08-26T10:34:45","modified_gmt":"2022-08-26T14:34:45","slug":"texas-targets-10-financial-companies-340-plus-funds-over-esg-driven-fossil-fuel-divestment","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/texas-targets-10-financial-companies-340-plus-funds-over-esg-driven-fossil-fuel-divestment\/","title":{"rendered":"Texas Targets 10 Financial Companies, 340-Plus Funds Over ESG-Driven Fossil Fuel Divestment"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftexas-targets-10-financial-companies-340-plus-funds-over-esg-driven-fossil-fuel-divestment%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1622954&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><a href=\"https:\/\/www.theepochtimes.com\/t-texas\">Texas<\/a> on Aug. 24 released a list of 10 financial companies and almost 350 funds said to be boycotting energy firms involved in <a href=\"https:\/\/www.theepochtimes.com\/t-fossil-fuels\">fossil fuels<\/a>, marking the latest step in the pushback by individual U.S. states against the environmental, social, and governance (<a href=\"https:\/\/www.theepochtimes.com\/t-esg\">ESG<\/a>) movement.<\/p>\n<p>Because of\u00a0<a href=\"https:\/\/capitol.texas.gov\/tlodocs\/87R\/billtext\/pdf\/SB00013F.pdf#navpanes=0\">Texas Senate Bill 13<\/a>, which took effect in September 2021, the state comptroller must publish such a list. The measure, which was enacted\u00a0in June 2021, requires many state government entities to divest from\u00a0ESG-guided companies and funds.<\/p>\n<p>\u201cI\u2019m happy to see that states are continuing to do what they feel is in their best interest, in terms of fighting back against ESG,\u201d Derek Kreifels, CEO of the State Financial Officers Foundation, told The Epoch Times on Aug. 24.<\/p>\n<p>\u201cThe [ESG] movement has produced an opaque and perverse system in which some financial companies no longer make decisions in the best interest of their shareholders or their clients, but instead use their financial clout to push a social and political agenda shrouded in secrecy,\u201d state Comptroller Glenn Hegar said in an Aug. 24 <a href=\"https:\/\/comptroller.texas.gov\/about\/media-center\/news\/20220824-texas-comptroller-glenn-hegar-announces-list-of-financial-companies-that-boycott-energy-companies-1661267815099\">statement.<\/a><\/p>\n<p>\u201cOur review focused on the boycott of energy companies, rather than a review of the entire ESG movement. This research uncovered a systemic lack of transparency that should concern every American regardless of political persuasion, especially the use of doublespeak by some financial institutions as they engage in anti-oil and gas rhetoric publicly yet present a much different story behind closed doors.\u201d<\/p>\n<p>The 10 companies on the list\u00a0<a href=\"https:\/\/comptroller.texas.gov\/purchasing\/publications\/divestment.php\">are<\/a> BlackRock, BNP Paribas, Credit Suisse Group, Danske Bank, Jupiter Fund Management, Nordea Bank, Schroders, Svenska Handelsbanken, Swedbank, and UBS Group.<\/p>\n<p>\u201cThis is not a fact-based judgment,\u201d a spokesperson for BlackRock told The Epoch Times in an\u00a0Aug. 24 statement in response to the Texas decision. BlackRock has more than $100 billion in its clients\u2019 funds invested in<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Texas on Aug. 24 released a list of 10 financial companies and almost 350 funds said to be boycotting energy firms involved in fossil fuels, marking the latest step in the pushback by individual U.S. states against the environmental, social, and governance (ESG) movement. Because of\u00a0Texas Senate Bill 13, which took effect in September 2021, [\u2026]<\/p>\n","protected":false},"author":152,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1622954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1622954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/152"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1622954"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1622954\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1622954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1622954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1622954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}