In a hearing the message was that their money is not welcomed if they abide by environmental standards.
The fiduciary standard requires those who hold other people’s money to invest it in ways that maximize the return on that money without self-dealing. Although there are other nuances to the concept, the one that rankles Republicans is the fact that these fiduciaries also look at environmental issues. They’d rather not have the Texas oil industry subjected to sensible pollution goals, even though the Texas oil and gas industry itself says otherwise.
Why did the committee schedule a show trial to berate these firms when their management of state funds is driving positive returns for Texas retirees? Because taking down the “woke agenda” is a political tool for these senators to stay in power and please their base voters. Some conservatives, here in Texas and around the country, are on the march against any investment strategy that looks to the future of energy.
Source: News Formal (newsformal.com)
If you mean Blackrock or China, then good riddance.
Of course they are. The GOP wants their cut, and when they don't get it...they take their toys and go home.
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