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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.

A pump jack near Stratford, Texas.

Photographer: Angus Mordant/Bloomberg
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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.