Texas: Governor Abbott Denounces ESG Standards Harmful To U.S. Energy Sector

~ Governor Greg Abbott of Texas has taken a stand against the Biden Administration's efforts to impose environmental, social, and corporate governance (ESG) standards on America's investment funds. In a letter to President Joe Biden, the Governor warned that such requirements would threaten millions of American energy jobs, many of which are based in Texas, compromise American energy security, and further a federal attempt to undermine the nation's energy industry.

"Over the past two years, you have tried to stifle the American energy sector with your ESG fanaticism," reads the letter. "As the Governor of Texas, I see firsthand the problems your policies have created for hard-working Americans looking for an opportunity to succeed. By pushing this radical ESG agenda, you are risking the lifelong savings of millions, for political points."

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Texas has been at the forefront of defending its critical energy industry against Biden's policies. Last session saw Governor Abbott sign Senate Bill 13 which prohibits state contracts and investments with companies that boycott energy companies. In January 2021, he issued an executive order directing all state agencies to use all lawful powers and tools to challenge any federal action that jeopardizes the continued vitality and independence of the energy industry.

In his letter to President Biden, Governor Abbott also announced plans for legislation this session that will protect the energy industry from insurance companies attempting to placate ESG advocates. He concluded by stating that anyone who puts their livelihood at risk will have a fight on their hands down in Texas.

Filed Under: Government, State

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