Trillium Asset Management, a member of Out Leadership, has convened a group of major global investors to sign a letter in opposition of Texas Senate Bill 6, a “bathroom bill” that will harm LGBT+ people in Texas.
The more than 30 signatories include some of the biggest investors in the world, such as BlackRock, State Street Global Advisors, T. Rowe Price, and AllianceBernstein, as well as New York City Comptroller Scott M. Stringer, California Controller Betty Yee, Connecticut Treasurer Denise L. Nappier, New York State Comptroller Thomas DiNapoli, Oregon Treasurer Tobias Read, Rhode Island Treasurer Seth Magaziner, and Vermont Treasurer Elizabeth Pearce.
The investors’ letter urges Texas Governor Greg Abbott, Lieutenant Governor Dan Patrick, and House Speaker Joe Straus to oppose the legislation, which would discriminate against transgender individuals in Texas, which would not only make it more difficult for companies to attract and retain the best talent, but could have real effects on the Texas economy by undermining businesses operating there, and delivering extraordinary reputational harm to the Texas business environment. The state could lose hundreds of millions – if not billions – of dollars in economic activity.