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Multistate Investigation of S&P ESG Ratings


Committee Implicated:

Business and Labor


Texas AG Ken Paxton issued a Civil Investigative Demand under the Texas Deceptive Trade Practices-Consumer Protection Act to S&P Global, Inc., a credit rating agency, seeking documents and information regarding S&P’s use of Environmental, Social, and Governance (ESG) ratings in its credit ratings analysis.

Federalism Implications

State actions illustrate rising concern about the company's use of ESG investment criteria in managing state pension funds.

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