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3w ago

Texas Delists BlackRock From Energy Boycott List After ESG Shift

The update ends a three-year conflict spurred by Texas’s 2021 anti-ESG law.

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The BlackRock logo is pictured outside their headquarters in the Manhattan borough of New York City, New York, U.S., May 25, 2021. REUTERS/Carlo Allegri/File Photo
BlackRock offices in New York City.
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Overview

  • Texas Comptroller Glenn Hegar removed BlackRock from the boycott list, citing the firm’s rollback of climate commitments.
  • BlackRock resigned from Climate Action100+ and fully exited the Net Zero Asset Managers initiative earlier this year.
  • The delisting clears the way for state pension funds and agencies to resume investments with the firm.
  • BlackRock backed a Texas-based stock exchange set to launch in 2026 as part of its policy realignment.
  • Legal disputes persist with SB13 facing a constitutional challenge and Attorney General Ken Paxton’s investment-cartel suit against BlackRock still pending.