Reuters Quotes Josh Lichtenstein on Texas’s Blacklist of Certain Financial Firms

In The News
December 6, 2022

A Texas official has offered big financial companies a potential avenue to leave an energy sanctions list if they drop out of corporate groups aiming to limit global emissions. The concept is detailed on the website of Texas Comptroller Glenn Hegar, who in August listed several financial firms as "boycotting" the energy industry under the terms of a new state law because of their environmental policies. In late November, Hegar provided updates that includes new steps companies can take to be removed from the list.

Josh Lichtenstein told Reuters the new language seems to be offering an exit from the boycott list in exchange for withdrawal from the industry groups and he is skeptical most companies would do so.

"My gut feel is it's unlikely," Josh said explaining it would be difficult for most big firms to drop out given how seriously many of their investors take climate concerns.