Green
Texas Asks 19 Finance Firms for Details on Fossil-Fuel Stances
- Comptroller asks 19 firms if they are boycotting energy sector
- Companies have 60 days to clarify their policy positions
A pump jack near Stratford, Texas.
Photographer: Angus Mordant/BloombergThis article is for subscribers only.
Texas is seeking information from BlackRock Inc., JPMorgan Chase & Co., Invesco Ltd. and 16 other firms on whether they discriminate against the fossil-fuel industry.
The state’s comptroller wrote to 19 domestic and foreign banks and asset managers seeking clarification of their fossil-fuel investment policies and procedures. Any company that fails to respond within 60 days after receiving the letter “will be presumed to be boycotting energy companies,” according to a statement released on Wednesday.