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Senate debate on bill to limit TDI's adoption of ESG-linked rules draws broad testimony
Summary
The Senate Committee on Business & Commerce heard extended debate on Senate Bill 495, a measure that would narrow the Department of Insurance’s rulemaking authority by prohibiting the department from adopting certain ESG-related standards unless explicitly required by statute.
The Senate Committee on Business & Commerce heard extended debate on Senate Bill 495, a measure that would narrow the Department of Insurance’s rulemaking authority by prohibiting the department from adopting or enforcing certain standards tied to environmental, social and governance (ESG) criteria unless explicitly required by statute.
Sen. Sparks, the bill’s sponsor, said the measure would prevent national bodies from imposing standards on Texas that could disadvantage Texans. “Texas has consistently opposed the ESG influence,” he said, arguing the state should retain regulatory independence from national organizations.
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