(The Center Square) – Several days after Israel was attacked by Hamas, Texas Comptroller Glenn Hegar reminded businesses about Texas’ boycott Israel list.
“Over the weekend, Israel was hit with a cowardly attack by terrorists with seemingly no goal but senseless destruction and loss of life. Even as Israel now fights to defend itself, Hamas continues its violent threats by vowing to kill hostages in response to Israeli counterstrikes in Gaza,” Hegar said.
“On this issue there can be no equivocating. The Hamas terrorists have underestimated Israeli resolve and have invited the full retribution of the Israel Defense Forces (IDF). Similarly, as Israel’s ally, we must not waiver in our support.
“Texas has long been a friend and ally of Israel, and we support Israel’s right to defend its land and people. Companies that do business with the state of Texas should keep that in mind.”
Texas Government Code Chapter 808 defines “boycott Israel” as “refusing to deal with, terminating business activities with or otherwise taking any action that is intended to penalize, inflict economic harm on or limit commercial relations specifically with Israel or with a person or entity doing business in Israel or in an Israeli-controlled territory … .”
State governmental entities subject to the investment prohibitions and divestment requirements in the statute include: Employees Retirement System of Texas, Teacher Retirement System of Texas, Texas Municipal Retirement System, Texas County and District Retirement System, Texas Emergency Services Retirement System and the Permanent School Fund.
Companies currently on the Boycott Israel list include:
ASN Bank NVBen & Jerry’s Homemade, Inc.Betsah Invest SACactus SACo-Operative Group LimitedDNB Bank ASAGuloguz Dis Deposu Ticaret Ve Pazarlama LTDKarsten FarmsKLP Kapitalforvaltning ASKommunal Landspensjonskasse Gjensidig ForsikringsselskapUnilever PLC
Texas has also published a divestment statute list addressing a range of issues:
Companies that Boycott IsraelDesignated Foreign Terrorist OrganizationsScrutinized Companies with ties to Foreign Terrorist OrganizationsFinancial Companies that Boycott Energy CompaniesList of Financial Companies that Boycott Energy Companies FAQScrutinized Companies with ties to IranScrutinized Companies with ties to Sudan
Hegar recently updated the list of companies implementing ESG policies designed to negatively impact the Texas oil and natural gas industry, the powerhouse of the state’s energy industry.
Texas public investment entities subject to the law are prohibited from “contracting with, and divest[ing] from, these companies unless they can demonstrate this would conflict with their fiduciary duties,” Hegar said.
