Governor Greg Abbott sent a letter to Texas state agencies directing them to divest from risky investments originating from China. The Governor ordered Texas state agencies to protect Texans from exposure to the Chinese Communist Party (CCP) by fully divesting from China as soon as possible. Last year, Governor Abbott with three other Governors encouraged Vanguard to create emerging market funds isolating the investments from risks posed by the CCP.
Previously, Abbott issued an executive order addressing threats to Texas’ critical infrastructure posed by the People’s Republic of China (PRC) and the CCP. The Governor directed the Texas Division of Emergency Management (TDEM) and Public Utility Commission of Texas (PUC) to prepare for potential threats against Texas’ critical infrastructure from a hostile foreign government or their proxies.
At the direction of Governor Abbott, TDEM and the PUC will:
- Establish a taskforce to survey potential vulnerabilities of state and local governments and other critical infrastructure. The taskforce will also provide recommendations to address any vulnerabilities.
- Simulate responses to cyberattacks on key industry sectors of the Texas economy and recommend policies and best practices to prevent attacks and mitigate their effects.
- Convene a committee of state agencies to simulate a restart of Texas’ electric grid in the event of a foreign attack.
The Governor also ordered the Electricity Reliability Council of Texas to create a secure, dedicated communications channel for telecommunication and electrical infrastructure companies for use to prioritize load requests during a critical grid incident.
