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Business group sues to strike Texas’ anti-ESG investment ban

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Business group sues to strike Texas’ anti-ESG investment ban


AUSTIN — A progressive business group has sued to strike a 2021 Texas law that banned the state from doing business with companies the state has deemed hostile to the fossil fuel industry.

The American Sustainable Business Council filed suit against Attorney General Ken Paxton and Comptroller Glenn Hegar, alleging that Senate Bill 13 violates the First and Fourteenth Amendments.

Paxton and Hegar did not immediately respond to requests for comment.

The so-called anti-ESG law (which stands for environmental, social and governance) has led Texas to divest investments from 16 financial companies, including investment giant BlackRock, Inc. and UBS Group AG. Neither firm is a plaintiff in the suit.

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“SB 13 is not just a misguided policy; it is an unconstitutional attack that stifles free speech and punishes businesses for prioritizing responsible investments,” said David Levine, president and co-founder of the American Sustainable Business Council. “By challenging SB 13, we aim to protect the rights of all businesses to operate freely and responsibly.”

The law came about in response to several investment companies adopting investment philosophies that prioritized environmental issues, social issues and corporate governance. BlackRock, which controls about $10.5 trillion in assets, was made a centerpiece of the political uproar in Texas after its CEO announced that it was turning away from oil and gas investments.

BlackRock’s CEO Larry Fink has signaled a willingness to make amends with Texas lawmakers by cohosting a natural gas investment symposium alongside Lt. Gov. Dan Patrick earlier this year in Houston. However, the company remains banned from doing business with Texas, according to the comptroller’s office.

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The American Sustainable Business Council includes members Etho Capital and Sphere – investment firms that manage index funds focused on climate sustainability. The comptroller’s office has blacklisted “flagship investment funds” from each company, according to the lawsuit.

Since the law’s implementation, state funds such as the Permanent School Fund and Teacher Retirement System of Texas have unloaded billions of dollars in assets once managed by BlackRock and other companies banned from Texas. That has cost taxpayers about $1.5 billion in unrealized financial gains and increased interest payments on government loans, according to economists at the Perryman Group.

Democracy Forward, a progressive legal advocacy organization, is representing plaintiffs.

“Governor [Greg] Abbott should have never signed SB 13. The law is bad for Texas businesses and taxpayers and violates the U.S. Constitution,” said Skye Perryman, Democracy Forward’s CEO. “It is past time for Gov. Abbott, Lt. Gov. Patrick and their associates in the Texas legislature to prioritize the wellbeing of people in the state. Texas businesses, taxpayers, workers, and public employees will be better off if SB 13 is struck down.”



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Austin, TX

Texas Relays draws in top athletes to Austin

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Texas Relays draws in top athletes to Austin


Hemp Rules Tighten – Texas regulators have officially banned intoxicating hemp flower, a move supporters say closes a loophole but critics warn could cripple a billion‑dollar industry. Adam Schwager looks at how retailers are scrambling to adjust, what products remain legal, and why some business owners believe the change will push buyers back toward the illicit market.

State Backs Psychedelic Research – Texas is investing $50 million into clinical trials for ibogaine, a powerful psychedelic some veterans say helped them overcome PTSD and addiction. Dylan McKim examines why the research plan hit a roadblock with private partners, the state’s decision to fully fund the studies, and questions about how much more Texas may need to spend to pursue FDA approval.



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Austin weather: Storms, gusty winds expected across Central Texas as cold front moves in

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Austin weather: Storms, gusty winds expected across Central Texas as cold front moves in


A cold front moving through Central Texas is expected to bring scattered storms, gusty winds, and a sharp drop in temperatures Saturday, with conditions improving by Easter Sunday.

Austin Saturday Forecast

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The primary threats include wind gusts between 40 and 60 mph and the potential for localized flooding.

The approaching cold front is expected to intensify storms as they move eastward late Saturday morning into the afternoon. Residents are advised to remain weather-aware during this period.

Temperatures, which started in the low 70s Saturday morning, are forecast to drop throughout the day, falling into the 50s and 60s by late afternoon. Strong northerly winds, with gusts up to 30 mph, will continue into Sunday.

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Easter Sunday forecast

By Saturday evening, rain chances are expected to diminish, leading to a mostly dry but cloudy and breezy Easter Sunday. Morning temperatures will begin in the 50s, with afternoon highs only reaching the 60s.

Austin 7-Day forecast

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The Source: Information in this article comes from FOX 7 Meteorologist Adaleigh Rowe.

WeatherAustin



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Detectives Investigating Homicide on Tuscany Way in East Austin

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Detectives Investigating Homicide on Tuscany Way in East Austin


The Austin Police Department is investigating a Thursday evening shooting at the Penske Rental Truck facility in East Austin that resulted in the death of a 39-year-old man.

The department revealed details about the incident in a Friday press release. At around 5:42 p.m., Austin police officers responded to a shoot/stab hotshot call at the Penske Rental Truck facility located at 8201 Tuscany Way.

The caller reported that a man had been shot. When officers arrived, they encountered two individuals next to a man on the ground suffering from visible gunshot wounds. The injured person was later identified as 39-year-old William Rogers.

APD officers provided Rogers with medical assistance until Austin-Travis County Emergency Medical Services arrived on the scene to transport him to a local hospital, where he died.

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Homicide detectives and crime scene specialists responded to the scene and learned that Rogers and another man, 28-year-old Javarus Crumpton, knew each other and both worked as movers.

The two men and the third man arrived at the facility to rent a Penske moving truck. After an argument arose regarding the rental deposit cost, Crumpton allegedly shot Rogers. Crumpton and the third person remained on the scene and are cooperating with the investigation.

No arrests have been made in the case, which is being investigated as Austin’s 17th homicide of 2026. The Travis County District Attorney’s Office was notified about the incident.

Residents with information about the case can contact APD at 512-974-TIPS. Submit anonymous tips through the Capital Area Crime Stoppers Program by visiting its website or calling 512-472-8477. A reward of up to $1,000 may be available for any information that leads to an arrest.





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