Barclays banned from Texas municipal bond market over net zero emissions concerns

Texas Attorney General Ken Paxton announced last week that Barclays is barred from underwriting Texas’s municipal bonds due to its failure to respond to requests for information on its net zero carbon emissions commitments. The decision came after Barclays declined to respond to inquiries on its environmental, social, and governance (ESG) policies.

The Office of the Attorney General raised concerns that Barclays’ activities might classify it as a “fossil fuel boycotter” under Texas law.