SAN ANTONIO (KTSA News) — Texas Comptroller Glen Hegar’s office has done some research in compiling a list of financial companies that boycott energy companies.

A press release states that there are ten financial companies on the list.

Hegar says the research exposes companies that may be using tax dollars to directly undermine the state’s economic health.

“The environmental, social and corporate governance (ESG) movement has produced an opaque and perverse system in which some financial companies no longer make decisions in the best interest of their shareholders or their clients, but instead use their financial clout to push a social and political agenda shrouded in secrecy.”

Hegar adds:

“This research uncovered a systemic lack of transparency that should concern every American regardless of political persuasion, especially the use of doublespeak by some financial institutions as they engage in anti-oil and gas rhetoric publicly yet present a much different story behind closed doors.”

The listed companies are subject to the divestment provisions outlined in a Texas Government Code, which defines a financial company as a publicly traded financial services, banking or investment company.

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