Chilling Bond Market Effect When States Fight ESG

What is happening? A new paper from the Wharton School indicates the chilling effect on the bond market for Texas with its anti-ESG stance.

Why is this important? 5 of the largest bond underwriters left the Texas market: JPMorgan Chase, Goldman Sachs, Citigroup, Bank of America, and Fidelity

How will this be important? It is estimated texas municipalities will pay an extra $303 million to $532 million in interest

Knowledge at Wharton | Texas Fought Against ESG. Here’s What It Cost