The Texas Comptroller’s office removed international investment giant BlackRock Inc. from a list of companies public agencies were required to divest from as the company has realigned with state law by withdrawing from key clean energy initiatives.
Senate Bill 13, passed in 2021, requires the comptroller’s office to maintain a list of financial firms that “boycott” the fossil fuel industry, and included BlackRock, several other companies and roughly 350 investment funds before Tuesday’s update. Texas Comptroller Glenn Hegar called the removal of BlackRock and over a dozen investment funds a “meaningful victory” for Texas’ energy economy but clarified in a statement that the list or divestment proceedings were not done to intentionally target companies.
