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Group sues Texas over law banning state business with firms “boycotting” fossil fuels

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Environment,Oil And Natural Gas,Courts

The lawsuit, filed in federal court, argues that the 2021 so-called “anti-ESG” law discriminates against specific political views.

A new lawsuit challenges a 2021 Texas law that restricts state business with entities seen as unfriendly to fossil fuels.A progressive business group sued Texas on Thursday over a 2021 law that restricts state investments in companies that, according to the state, “boycott” the fossil fuel industry.

In a statement, Hegar, the comptroller, called the lawsuit an “absurd” attempt to “force the state of Texas and Texas taxpayers to invest their own money in a manner inconsistent with their values and detrimental to their own economic well-being.” In Thursday’s suit, the American Sustainable Business Coalition argued that the physical and financial risks posed by climate change are a legitimate investment and business consideration and cause for efforts to reduce carbon emissions.

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