In an attempt to protect its oil and gas industry, Texas has passed legislation that seeks to punish investment firms that divest from fossil fuel related investments. On 16 March 2022, the Texas Comptroller of Public Accounts, Glenn Hegar, sent a letter to 19 major financial companies which was not limited to US or Texas-based companies and included Japanese companies requesting verification that they do not engage in investment policies that result in the boycott of fossil fuel-based energy. This request was made pursuant to Texas Government Code Chapter 809: recent legislation prohibiting the Texas Government from investing in financial companies that take any action intended to penalize, inflict economic harm, or limit commercial relations with a company based on the company’s involvement in fossil fuel-based energy.
Sydney Hunemuller is an associate in Baker McKenzie's Dallas office. She focuses her practice on complex commercial disputes and international arbitration, and her experience includes securities litigation, antitrust litigation, trade secret disputes, and class actions. Sydney is a member of Baker McKenzie's North America Litigation and Government Enforcement Practice Group and North America Trade Secrets Practice Group. In law school, she served as an articles editor for the Baylor Law Review.