Texas state senators and financial executives from BlackRock and State Street Corp had a head-to-head confrontation on climate change concerns at a hearing on Thursday.

Texas Republicans at the hearing questioned the participation of BlackRock and State Street in industry efforts to cut emissions, saying those efforts put too much pressure on portfolio companies, according to Reuters.

Bryan Hughes, chair of the Texas Senate Committee on State Affairs, expressed skepticism that managers could set aside the collective goals of groups like the Net Zero Asset Managers initiative, which Vanguard Group Inc. quit last week, according to Reuters.

Vanguard Group dropped out of the program last week to avoid testifying at the hearing, according to the Observer. The company cited a need for independence.

The Net Zero Asset Managers Initiative is a program among financial powerhouses pledging to support the goal of net zero greenhouse gas emissions by 2050 or sooner.

Hughes asked BlackRock about the assets it pledged for the program, “You didn’t mean that? You had your fingers crossed?”

BlackRock Senior Managing Director Dalia Blass said her firm maintained its independence.

“We have one bias, and that’s to get the best risk-adjusted returns for our clients,” Blass said.

State Street’s global chief investment officer took a similar line: “We are obligated to act as a fiduciary for our clients, and that duty is the basis for our approach to ESG.”

BlackRock has been singled out by Texas for alleged over-pressuring of its energy sector, according to Reuters.  The company has been penalized under a new state law to protect fossil fuel companies.

Republicans leading this campaign say they’re concerned that prioritizing ESG endangers the energy industry and is a disservice to shareholders. Critics say the backlash is a political move to protect oil and gas companies, according to the Observer.

Hughes said at the hearing that Texans deserve to know how the ESG will affect their pension funds.

Texas energy businessman Bud Brigham said a Credit Suisse banker suggested he tweet in support of net zero goals to help get a loan. Brigham called the request coercion. “I was very offended by that,” he said.