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In August 2022, Texas placed one or more funds from Aberdeen (formerly Aberdeen Standard Investments) on its List of Financial Companies that Boycott Energy Companies list. The Comptroller’s office examined publicly available data, including licensed information from Bloomberg, LSEG Workspace, and MSCI, to identify U.S.-based funds that appear to restrict or prohibit investments in energy companies. However, in February 2026, a federal judge in Austin issued a ruling prohibiting enforcement of SB 13, the law that allowed the Texas Comptroller to create and maintain its Financial Companies that Boycott Energy Companies list. The court held that the law infringed upon First and Fourteenth Amendment protections. The plaintiffs argued that SB 13 unlawfully penalized financial firms for engaging in protected speech and investment decisions related to ESG policies, effectively compelling viewpoint-based certifications to do business with the state. The State of Texas, however, contended that SB 13 represented a lawful exercise of its authority to direct state investments and contracting decisions and to protect the state’s energy industry from what it characterized as discriminatory financial practices. In February 2026, the Texas Comptroller’s Office and the Texas Attorney General’s Office appealed the ruling to the Fifth Circuit Court of Appeals. The case remains pending (1)(2)(3)(4)(5). The company integrates ESG into its business practices. From its 2025 Sustainability Report: “integration of ESG considerations into
investment analysis is a fundamental part
of the investment process at Aberdeen” (6). Aberdeen integrates ESG into its business practices. From its Global Third Party Code of Conduct: the company expects suppliers to “have in place science aligned greenhouse gas emission reduction targets” and “have established emission monitoring covering emission scopes 1,2, & 3 and be willing to share this information on request” (7). The company promotes divisive sex and gender policies. Its Global Third Party Code of Conduct requires international vendors to include sexual orientation and gender identity in their nondiscrimination policy (8). However, Aberdeen has not publicly canceled customers, suppliers, or vendors based on political views or religious beliefs (9).

Aberdeen Group Charitable Foundation will not “fund political organisations and organisations that promote a single religious faith” (1).

Aberdeen requires its hiring managers to take inclusive recruitment training (1). The company appears to prioritize diversity over merit in its recruitment. From its 2025 Sustainability Report: “We work with partners to help us reach diverse talent pools… all our executive search partners are
obliged contractually to provide
diverse shortlists” (2). Aberdeen does not provide viewpoint protections for its employees (3)(4).

Aberdeen is a signatory of the 2026 relaunch of the Net Zero Asset Managers Initiative, which provides resources to asset managers to aid in setting climate goals. Based on the company’s NZAM profile page, it is currently updating its commitments (1)(2)(3). The company is aligned with the Paris Agreement, which entails a commitment to net zero carbon emissions by 2050 (4). Aberdeen supports DEI within its business practices. From its Inclusion at Aberdeen webpage: “We maintain focus on creating sustainable cultural change, embedding inclusion into everything we do” (5). The company supports ESG within its business practices. From its 2025 Sustainability Report: “Our framework begins with the integration
of environmental, social and governance
(ESG) through to strategies with an explicit
sustainable investment objective” (6).

Aberdeen has not used corporate funds to advance ideological causes, organizations, or policies (1).

Aberdeen does not operate a PAC or engage in lobbying at this time (1)(2)(3).