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The Texas Tribune
The Texas Tribune
National
Mitchell Ferman

Texas bans local, state government entities from doing business with firms that “boycott” fossil fuels

Glenn Hegar Texas James Coleman Oil Texas Tribune BlackRock Goldman Sachs JP Morgan Sierra Club University of Houston
Texas Comptroller of Public Accounts Glenn Hegar at The Texas Tribune Festival on Sept. 28, 2019.
Texas Comptroller Glenn Hegar said 10 financial firms can no longer do business with any level of state government because they have reduced or ended investments in the fossil fuels industry. (Credit: Eddie Gaspar for The Texas Tribune)

Texas banned 10 financial firms from doing business with the state after Comptroller Glenn Hegar said Wednesday that they did not support the oil and gas industry.

Hegar, a Republican running for reelection in November, banned BlackRock Inc., and other banks and investment firms — as well as some investment funds within large banks such as Goldman Sachs and JP Morgan — from entering into most contracts with state and local entities after Hegar’s office said the firms “boycott” the fossil fuel sector.

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