Texas increases the number of financial institutions subject to energy penalties, including HSBC.

A Texas official added HSBC Holdings (HSBA.L) to a list of energy sanctions on Monday, expanding a campaign against businesses the state believes are overly concentrated on the energy transition.

HSBC Holdings plc is a British multinational universal bank and financial services holding company.

March 20 (Reuters) - A Texas official on Monday added HSBC Holdings (HSBA.L) to an energy sanctions list, widening a crackdown on companies which in the state's view are too focused on energy transition.

Republican-led U.S. states have alleged companies are prioritizing environmental, social and governance policies (ESG) over their financial responsibilities to their shareholders.

The move could prohibit Texas' governmental entities from investing in one of Europe's biggest banks.

"HSBC's new energy policy is a prime example of a broader movement in the financial sector to push a social agenda and prioritize political goals over the economic health of their clients," Texas Comptroller Glenn Hegar said.

Florida's chief financial officer said in December his department would pull $2 billion worth of its assets managed by BlackRock Inc (BLK.N), a sizeable divestment by a state opposed to the asset manager's ESG policies.


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