The Congressional Record is a unique source of public documentation. It started in 1873, documenting nearly all the major and minor policies being discussed and debated.
“The Environment (Executive Session)” mentioning the U.S. Dept of Labor was published in the in the Senate section section on pages S434-S435 on Feb. 16.
The Department provides billions in unemployment insurance, which peaked around 2011 though spending had declined before the pandemic. Downsizing the Federal Government, a project aimed at lowering taxes and boosting federal efficiency, claimed the Department funds "ineffective and duplicative services" and overregulates the workplace.
The publication is reproduced in full below:
The Environment
Mr. President, finally, ESG. Reports are out that Republicans will introduce a measure targeting a new rule from the Department of Labor that allows--repeat: allows; not requires--allows 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 trying to stop State investment funds from working with money managers who dare commit the oh-so-heinous offense of looking at the big picture 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.
Let me say that again. Nothing in the DOL rule that they seek to repeal imposes any requirement on anyone. In fact, it goes out of its way to make sure decision-making remains solely in the hands of the fiduciary.
Republicans love to talk about small government and letting the private sector do its work. But their obsession with eliminating ESG would do just the opposite. Many companies realize that as we move to clean energy, their path to profitability depends on adapting to those changes. Hard-
right MAGA Republicans--climate deniers, they are--are trying to straitjacket those companies with their ideological obsessions and prevent them from adapting to the future for their own good and for the good of the country.
I yield the floor.
I suggest the absence of a quorum.
The ACTING PRESIDENT pro tempore. The clerk will call the roll.
The senior assistant legislative clerk proceeded to call the roll.
Mr. McCONNELL. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.
The ACTING PRESIDENT pro tempore. Without objection, it is so ordered.
