Texas adds HSBC to energy sanctions list

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, Report informs, citing Reuters.

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.