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Over the weekend, the Texas Democratic Party held its annual convention in El Paso to align on its priorities heading into the November election. Notably, party leaders threw their support behind responsible investing drawing a stark contrast from the Texas Republican Party which adopted one of the most extreme platforms in its history, adopting positions like criminalizing abortion as ”homicide,” ending the minimum wage and public sector unions, and banning ESG.

“Responsible investing is good for the economy, jobs, and the business climate in Texas,” said Unlocking America’s Future spokesperson Kyle Herrig. “It’s encouraging to see support building for common-sense policies that a majority of Texans support. It’s time to overturn these harmful anti-ESG laws and bring back the Texas miracle.”

The Texas Democratic Party’s platform included two important clauses stating their support for…

  • Efforts to protect responsible investing and refute any legislation to divest our retirees’ pension funds from companies arbitrarily blacklisted for their responsible investing initiatives; and 
  • Repealing state laws barring investments in funds with responsible investing initiatives.

A new report from economic insights firm The Perryman Group reveals the real economic consequences of Texas’ recent anti-ESG legislation, which has the potential to cost the state as much as $821.1 million and nearly 8,800 job-years by the end of the year. 

New polling data from Unlocking America’s Future and Z to A Research reveals 83% of Texans say it is not the role of government to tell private financial institutions how to invest their customers’ money.