Texas
326 Companies Headquartered in Texas
Abrams Learning Trends, ABS Group Consulting, Academy Sports and Outdoors, Accelerate Learning Group, Adams Resources & Energy, Addus HomeCare Corporation, AECOM, Agile, Agility Bank, Agilon Health
Texas Average CBR Summary
Avg. Company Rating
Avg. Rating Criteria
| Criteria | Risk Level |
|---|---|
| Cancellations | Lower Risk |
| Discriminatory Philanthropy | Medium Risk |
| Employment Protection | Medium Risk |
Corporate Weaponization
| Criteria | Risk Level |
|---|---|
| Advocacy Bias | Medium Risk |
| Funding | Medium Risk |
| Political Actions | Medium Risk |
Corporate Governance and Public Policy
State Leadership
State Pension Fund Summary
Texas has two main public pension systems: the Teacher Retirement System of Texas (TRS) and the Employees Retirement System of Texas (ERS).
- The TRS board represents public school teachers and consists of 9 members appointed by the Governor: 3 at the Governor’s discretion; 2 from a list prepared by the State Board of Education; 2 from the 3 public school district member candidates who have been nominated by employees of public school districts; 1 from the 3 retired member candidates who are nominated by retired TRS members; 1 from the three at-large candidates who have been nominated for the position.
- TRS discloses its proxy voting records for directly held equities on this website.
- TRS uses ISS for its proxy advisory services.
- According to a September 2024 Report, the TRS’ general investment consultant is Aon.
- The ERS board represents other state and local government employees and consists of 6 members: 1 appointed by the Governor; 1 appointed by the Speaker of the Texas House of Representatives; 1 appointed by the Chief Justice of the Texas Supreme Court and confirmed by the Texas Senate; 3 elected by ERS members and retirees.
- ERS discloses its proxy voting records for directly held equities on this website.
- ERS uses ISS for its proxy advisory services.
- According to its 2024 Annual Comprehensive Financial Report, ERS’s general investment consultants are Meketa and NEPC.
The Texas Treasury Safekeeping Trust Company (TTSTC) “administers and manages the assets of” Texas’s Tobacco Settlement Permanent Trust Fund. The State Comptroller is the sole officer of the Texas Treasury Safekeeping Trust Company. However, the Comptroller is required to “administer and manage the assets of the Fund with the advice of, and in consultation with, the appointed Tobacco Settlement Permanent Trust Account Investment Advisory Committee”.
The “By Asset Manager” and “Asset Manager Voting” tables show the proxy voting records of the state’s asset managers who manage the pensions’ stock market portfolio through index, exchange-traded, or mutual funds. Since these are externally managed funds, the asset managers typically retain and exercise proxy voting privileges. This data is used to calculate the state’s pro-ESG and anti-ESG scores to see how the state leverages its externally managed funds in proxy voting.
The “State Voting” table shows TRS’ proxy voting records for directly owned securities through pension fund portfolios. The 1792 Exchange commends TRS and ERS for publicly disclosing this information online for their pensioners.
Both tables are important to show a comprehensive picture of the state’s proxy voting record.