Abbott's support for the exchange raised eyebrows among some conservatives.
Texas Governor Greg Abbott sparked conservative backlash over his support for the Lone Star State starting its own stock exchange.The TXSE Group announced plans on Wednesday to create a Texas Stock Exchange, which would compete with the New York Stock Exchange and Nasdaq, according to a report from The Wall Street Journal. The exchange has received $120 million in funding from investors such as BlackRock and Citadel Securities.
ESG programs have become a sticking point for some on the right, who argue that companies that embrace them value social causes over shareholders' profits.In fact, Abbott himself has been sharply critical of BlackRock. In 2021, he signed a bill banning financial companies with ESG policies, including BlackRock, from doing business in Texas.
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