How an Organized Republican Effort Punishes Companies for Climate Action

In West Virginia, the state treasurer has pulled money from BlackRock, the world’s largest asset manager, because the Wall Street firm has flagged climate change as an economic risk.

In Texas, a new law bars the state’s retirement and investment funds from doing business with companies that the state comptroller says are boycotting fossil fuels. Conservative lawmakers in 15 other states are promoting similar legislation.

And officials in Utah and Idaho have assailed a major ratings agency for considering environmental risks and other factors, in addition to the balance sheet, when assessing states’ creditworthiness.

Across the country, Republican lawmakers and their allies have launched a campaign to try to rein in what they see as activist companies trying to reduce the greenhouse gases that are dangerously heating the planet.