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Monday, May 30th, 2022

How an Organized Republican Effort Punishes Companies for Climate Action

Author:     David Gelles and Hiroko Tabuchi
Source:     The New York Times
Publication Date:     May 27, 2022
 Link: How an Organized Republican Effort Punishes Companies for Climate Action
Stephan:   Between guns, the anti-vaxxer movement, anti-choice, climate denial, public education dismantling, and on and on, I think it is objectively fair to describe the Republican Party as the party of death. and they are very active in doing damage.
Protesters at the Glasgow climate summit last year. A number of banks, investors and companies pledged at the talks to cut their greenhouse gas emissions.
Credit: Kieran Dodds / The New York Times

In West Virginia, the state treasurer has pulled money from BlackRock, the world’s largest asset manager, because the Wall Street firm has flagged climate change as an economic risk.

In Texas, a new law bars the state’s retirement and investment funds from doing business with companies that the state comptroller says are boycotting fossil fuels. Conservative lawmakers in 15 other states are promoting similar legislation.

And officials in Utah and Idaho have assailed a major ratings agency for considering environmental risks and other factors, in addition to the balance sheet, when assessing states’ creditworthiness.

Across the country, Republican lawmakers and their allies have launched a campaign to try to rein in what they see as activist companies trying to reduce the greenhouse gases that are dangerously heating the planet.

“We’re an energy state, and energy accounts for hundreds of millions of dollars of tax revenue for us,” said Riley […]

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1 Comment

  1. sam crespi on Monday, May 30, 2022 at 4:21 pm

    For years, Black Rock has leaning into fossil fuels, etc. As of June 30, its investment in fossil fuel companies totaled $259 billion globally of which $91 billion was invested in Texas-based fossil fuel companies, noting that it is “perhaps the world’s largest investor in fossil fuel companies.