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Texas AG says Wells Fargo withdrawal from Net-Zero Banking Alliance 'step in the right direction'

( December 20, 2024, 20:42 GMT | Official Statement) -- MLex Summary: Texas attorney general Ken Paxton applauded Wells Fargo’s decision to withdraw from the Net-Zero Banking Alliance, which is "an anti-energy activist organization that requires its members to prioritize a radical climate agenda over consumer and investor interests," according to a statement. Wells Fargo’s decision comes after Paxton’s review of the bank’s status as a potential boycotter of energy companies. Under Texas law, financial institutions boycotting the oil and gas industries are ineligible to enter into contracts with state governmental entities, the statement said. Paxton urged other major institutions to rescind "unlawful" commitments to environmental, social and governance goals....

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