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Texas Law Banning ESG Investments Faces Lawsuit

Business group sues Texas over 2021 law opposing ESG investments, citing constitutional violations and taxpayer losses.

by Mark Eisenberg
Thu, Aug 29, 2024 10:07pm
in Business
• 2 mins read
13.9k
Texas Law Banning ESG Investments Faces Lawsuit | FinOracle

Photo: Finoracle.net

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Texas' Anti-ESG Law Under Legal Scrutiny

A progressive business group has filed a lawsuit to challenge a controversial 2021 Texas law that prohibits the state from engaging in business with companies considered hostile to the fossil fuel industry. This lawsuit, spearheaded by the American Sustainable Business Council, targets Attorney General Ken Paxton and Comptroller Glenn Hegar, arguing that the Senate Bill 13 (SB 13) infringes upon the First and Fourteenth Amendments to the U.S. Constitution.

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