On June 3, 2025, Texas removed BlackRock from its list of companies boycotting the energy industry. This decision followed BlackRock’s significant shift away from climate-focused initiatives, including its withdrawal from the Net Zero Asset Managers group and decreased support for environmental shareholder resolutions. Texas Comptroller Glenn Hegar cited these changes and BlackRock’s support for the new Texas Stock Exchange as reasons for the delisting .
The removal allows Texas state agencies and funds to resume business with BlackRock, which manages substantial investments in the state. However, BlackRock continues to face legal challenges from Texas Attorney General Ken Paxton, who accuses the firm of manipulating energy markets—a claim BlackRock disputes .
This development is part of a broader trend where financial firms are retreating from earlier ESG commitments due to mounting political pressure, drawing criticism from Democratic leaders and climate activists for weakening their environmental stances
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