Texas Adds HSBC To Blacklist Of Banks Boycotting Oil And Gas

Texas has added HSBC to its list of companies that boycott the oil and gas industry, which could ban Texas government entities from investing in Europe’s largest bank and its funds and other products. HSBC ended up on Texas’ list after the bank recently updated its energy policy, Texas Comptroller Glenn Hegar said this week. As part of a policy to support and finance a net-zero transition, HSBC will stop funding new oil and gas field developments and related infrastructure, the banking giant said in December. Motivating the inclusion…