Texas bans Barclays from local govt debt business over ESG concerns
Texas Attorney General Ken Paxton on Friday said Barclays bank would not be permitted to underwrite municipal bonds after failing to respond to questions from state authorities about its pledges to cut greenhouse gas emissions. Republican officials have criticised environmental, social and governance (ESG) investing and have moved to limit the role of other banks in the local government debt market over such concerns. A Barclays spokesman declined to comment.