The Texas House has given preliminary approval to a bill that would direct state investment funds to divest from companies that cut ties with fossil fuel companies.
Senate Bill 13 was approved on second reading in the House, and needs only a third reading before it is sent to Gov. Greg Abbott’s desk.
The legislation would require state entities — including state pension funds and Texas’ massive K-12 school endowment — to divest from companies that refuse to invest in or do business with fossil fuel-based energy companies.
(Full story here)
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