The SEC lacked the authority to require more ESG proxy vote disclosures, improperly impeding oil, gas, and coal investments, Republican attorneys general from Texas and other states told the Fifth Circuit.
The Securities and Exchange Commission’s 2022 rule is intended to discourage investing in fossil fuel companies and other businesses shunned by environmental, social and governance activists, Angela Colmenero of Texas and three fellow attorneys general said in a court filing Tuesday.
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