Republican lawmakers are interrogating investment companies for their shift to climate-friendly portfolios that recommend state employees and retirees cut ties with companies funded by fossil fuels. That’s because it’s now illegal in Texas.
Lawmakers serving on the Texas Senate Committee on State Affairs said during a public hearing Thursday in Marshall that these companies are not following Senate Bill 13, which was passed in 2021 and prohibits the state from contracting with or investing in companies that divest from oil, natural gas and coal companies.