Another interesting piece in ESG Today caught our eye recently.
A Texas District Court judge has struck down the state’s “business blacklist law,” ruling that the law requiring state entities to divest from financial companies deemed to be “boycotting” fossil fuel companies was unconstitutional.
Passed in 2021, the blacklist law formed part of an anti-ESG movement in Republican states – which has picked up significant momentum since the election of President Trump – with Texas consistently at the forefront. Texas is the largest net energy supplier in the U.S., providing nearly a quarter of the country’s domestically produced energy, and accounting for over 40% of the nation’s crude oil proved reserves and production.
So, how this ruling will go down in Texas who knows, but what it clearly does show is that the battleground over climate and ESG in the US is not being as completely dominated by the Republicans as the mainstream media would have us believe.
It also shows how huge America is and when one compares the Midwest states, for example, with the coastal states especially California, the idea that this country is United is a myth.