[Congressional Record Volume 169, Number 31 (Wednesday, February 15, 2023)]
[Senate]
[Pages S406-S407]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                            THE ENVIRONMENT

  Mr. SCHUMER. Now, on ESG and China--two more items, Mr. President. 
First, reports are out that Republicans will reintroduce a measure 
targeting a new rule from the Department of Labor that allows--repeat, 
allows but not requires--fiduciaries to consider the impacts of climate 
change and other ESG issues when making investment decisions.
  Across the country, hard-right State legislatures are up in arms and 
trying to stop State investment funds from working with money managers 
who dare commit the, oh-so heinous offense

[[Page S407]]

of looking at the big picture, looking at the future when making 
investments, including how climate change and other issues can present 
financial risks.
  I just want to point out the obvious. Nothing in this DOL rule 
imposes any requirement on anyone. It is not a requirement. In fact, it 
goes out of the way to make sure decision making remains solely in the 
hand of the fiduciary.
  Republicans like to talk about small government. They like to talk 
about letting the private sector do its work. But their obsession with 
eliminating ESG, their sort of ostrichlike view about climate change 
and the damage that carbon presents when going into the atmosphere, 
would do just the opposite.


                                 China

  Mr. SCHUMER. Finally, on the China surveillance balloon and what 
happened over the weekend, after yesterday's briefing, it is clear our 
defense and intelligence Agencies remain laser-focused on gathering 
every piece of information about what happened over U.S. and Canadian 
airspace.
  John Kirby said these most recent objects did not pose any direct 
threat to people on the ground. That is very important. People should 
not worry about that. Of course, we have much more to learn. Today, we 
are going to have another all-Senators briefing on the State of U.S. 
defense readiness with respect to China. I am sure that will include a 
discussion of the military but also of our surveillance abilities.
  Republicans eager to score political points right at this moment are 
doing nothing more than engaging in premature attacks. It is 
precipitous. It is no time for premature partisanship. We need to work 
together in Congress to get to the bottom of what happened, which 
Senator Tester is taking the lead on here in the Senate. I thank him 
and all of my colleagues of good faith for working together.

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