Legislators in multiple fossil fuel-producing states are seeking to prohibit state entities from investing in or doing business with firms that account for climate change in their own risk assessments or are moving to remove fossil fuels from their investment portfolios, Politico reports. At least some of the state bills are backed by fossil-fuel backed, and climate science-denying, outside groups including ALEC, the Texas Public Policy Foundation and the Heartland Institute. The legislation could expose state assets and pension funds to climate risks, while also creating a chaotic patchwork of regulation for asset managers, all while the federal regulators at the SEC and Federal Reserve are creating guidelines for firms’ disclosure of climate risk. (Politico)