A judge struck down a controversial 2021 Texas law that blacklisted financial firms for “boycotting” fossil fuels. (NYT)
A federal judge (and President Trump appointee) ruled the “overly broad” law violated the First Amendment, noting it failed to provide clear standards for what actually constituted a boycott.
The big picture: This is a blow to the anti-ESG movement—the Texas statute served as the blueprint for similar legislation in 20+ other states targeting firms like BlackRock for their climate policies.