Barclays banned from state business in Texas—-blame its ESG policies


Barclays bank is the latest firm to be slapped with a ban because of its ESG policies that reportedly discriminate against the oil and gas industry.

Texas took the action on Friday as Attorney General Ken Paxton explained the bank would not be allowed to underwrite municipal bonds. He said the bank had failed to answer questions about its pledges to cut greenhouse gas emissions.

Just like Oklahoma, Texas has a law banning such firms from doing business with state agencies and investments if they discriminate against the oil and gas industry. Paxton’s office issued a statement saying it identified Barclays as a member or affiliate of a net zero allliance.

A Barclays spokesman declined to comment according to Reuters.

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