Republican lawmakers want to know why certain investment companies are recommending state employees and retirees divest from the oil and gas industry.
At a public hearing on Thursday in Marshall, legislators on the Texas Senate Committee on State Affairs stated that the companies are violating state law. Senate Bill 13 was passed in 2021, and bars the state from contracting with or investing in companies that divest from fossil fuel.
Companies in the crosshairs included BlackRock and State Street Global Advisors.
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