Texas Tribune reported last week that Glenn Hegar, the state’s comptroller, sent letters to 19 financial firms to determine if they are violating a new state law that prohibits companies from boycotting fossil fuel companies. The law in effect since September prohibits the state from contracting with or investing in companies that divest from oil, natural gas and coal companies. Tribune said firms that received a letter include U.S.-based companies such as JPMorgan Chase and Wells Fargo and foreign companies such as Jupiter Fund Management.
Hegar said March 16 he plans to send 100 additional letters and compile a list of companies that boycott fossil fuel energy. “Any companies on the comptroller’s list,” Tribune reported, “could see existing contracts with Texas government entities canceled and could face Texas pension funds divesting from them.”