Texas Blames ESG Goals in Probe of Xcel Over 2024 Wildfires

The Texas attorney general has launched an investigation into Xcel Energy Inc. and its contractor regarding two devastating wildfires that occurred in the state in 2024. The investigation alleges that the companies may have prioritized environmental, social, and governance (ESG) goals over essential maintenance and safety practices, potentially contributing to the wildfires. The probe focuses on Xcel Energy's decision-making processes and the potential impact of its ESG commitments on the company's operations and response to the wildfires. The investigation aims to determine whether the companies' focus on environmental and diversity objectives may have come at the expense of proper maintenance and safety measures, which could have played a role in the wildfires. The attorney general's office has stated that it will thoroughly examine the circumstances surrounding the wildfires and the companies' actions, with the goal of ensuring that public safety remains the top priority for utility providers in Texas.