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BlackRock, Invesco Queried by Texas on Fossil-Fuel Stances (2)

March 16, 2022, 10:02 PM

Texas is seeking information from BlackRock Inc., JPMorgan Chase & Co., Invesco Ltd. and 16 other firms on whether they discriminate against the fossil-fuel industry.

The state’s comptroller wrote to 19 domestic and foreign banks and asset managers seeking clarification of their fossil-fuel investment policies and procedures. Any company that fails to respond within 60 days after receiving the letter “will be presumed to be boycotting energy companies,” according to a statement released on Wednesday.

The inquiries come six months after a new Texas law went into effect banning state agencies from investing in finance firms that have “boycotted ...