Texas Faces Lawsuit Over Law Targeting Pro-ESG Businesses

Nonprofit argues Senate Bill 13 violates free speech by penalizing firms reducing fossil fuel reliance.

American Sustainable Business Council filed the lawsuit against Texas officials.
The 2021 law bans state investments in companies boycotting the oil and gas industry.
Texas Attorney General Ken Paxton and Comptroller Glenn Hegar are named defendants.
The law has led to significant divestments, including $8.5 billion from BlackRock.
Similar laws in other states have faced legal challenges and been blocked.