Texas bans Barclays from purchasing and underwriting municipal bonds (2024)
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Texas Attorney General Ken Paxton (R) on January 26 banned Barclay’s from participating in the state’s municipal bond market because the company did not respond to requests for information related to its ESG commitments:
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Barclays was previously identified as a potential 'fossil fuel boycotter' under Texas law. The bank subsequently opted not to respond to questions about its ESG commitments, Paxton’s office said. The Attorney General’s Public Finance Division ruled that 'we will not approve any public security issued on or after today’s date in which Barclays purchases or underwrites the public security or is otherwise a party to a covered contract relating to the public security.' The initial letter from the attorney general’s office in November identified several banks as subjects of the review including Bank of America, JP Morgan Chase, Morgan Stanley, and Wells Fargo. None of the other banks under review have said they would be unable to respond to the state’s inquiries, the division said.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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