June 15, 2021

Bloomberg Law News: Texas Targets Wall Street in Fight Over ESG Investing (2)

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https://news.bloomberglaw.com/environment-and-energy/texas-targets-wall-street-in-fight-over-esg-investing-1?utm_source=rss&utm_medium=NEVE&utm_campaign=0000017a-0d8b-d5a3-ad7a-cdef32630003

Texas Targets Wall Street in Fight Over ESG Investing (2)

2021-06-15 00:00:00, , Bloomberg Law News

Content Categorization
/News
/Business & Industrial/Energy & Utilities/Oil & Gas

Word Count:
1055

Words/Sentence:
26

Reading Time:
10.55 min

Reading Quality:
Advanced

Readability:
16th or higher

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To contact the reporter on this story:Rachel Adams-Heard in Houston at radamsheard@bloomberg.netTo contact the editors responsible for this story:Simon Casey at scasey4@bloomberg.netJessica Summers© 2021 Bloomberg L.P. All rights reserved.

Thanks to a number of amendments, a fund may be able to justify holding stock in, say, Google — which won't provide AI services for oil and gas production — by demonstrating that it would be bad for its members if it was forced to sell.

As corporations increasingly shun fossil fuels in an effort to combat climate change, the oil and gas industry has pointed to the robust demand for its products as evidence that boycotting its companies is hypocritical.

"We cannot continue to waste this much natural gas and allow the practice of flaring to tarnish the reputation of our state's thriving energy sector to the general public and investors on Wall Street," Christian said during a commission meeting in June of last year.

North Face JacketsIn late May, Abbott also signed a bill restricting cities from banning natural gas hookups in new homes and businesses, after Austin considered phasing out the use of fossil fuels as part of its climate plan.

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