Republicans are stepping up their efforts to prevent investors from considering environmental and other factors in their decisions. They are running up against the trillions of dollars in investments committed to funds addressing such concerns.

In the past week, Florida governor Ron DeSantis and other officials banned state pension fund managers from incorporating environmental, social and governance factors into investments. Texas Comptroller Glenn Hegar barred BlackRock, BNP Paribas, Credit Suisse Group and others from doing business there because they “boycott energy companies”. West Virginia in July took a similar step, kicking out BlackRock, JPMorgan and others while saying ESG hurts its economy.