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The Texas Tribune
The Texas Tribune
National
Erin Douglas

Texas’ teacher pension fund divested from investment firms accused of “boycotting” oil and gas industry

United States Texas Oil BlackRock Dalia Blass Glenn Hegar Texas Tribune BlackRock Inc Climate Change TRS
The Teacher Retirement System of Texas complex in downtown Austin on Sept. 21, 2018.
The Teacher Retirement System of Texas complex in downtown Austin. The massive pension fund says it has divested from investment funds that state leaders accused of “boycotting” oil and gas companies. (Credit: John Jordan/The Texas Tribune)

The Teacher Retirement System of Texas has divested part of its massive pension fund from 10 financial firms that the state comptroller singled out for “boycotting” the oil and gas industry.

In 2021, Texas lawmakers prohibited state funds from contracting with or investing in companies that divest from oil, natural gas and coal companies. In August, Comptroller Glenn Hegar released a list of 10 investment firms and several funds that would be blocked from doing business with the state due to their climate-change-conscious investment strategies.

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