Floor Statements

I ask for the yeas and nays.

Madam President, I ask for the yeas and nays.

I ask for the yeas and nays.

Madam President, there is a group of elected officials in

our country today who are engaged in an anti-capitalist crusade. But they are not socialists; they are mostly congressional Republicans.

This CRA is gross government overreach on U.S. capital markets. It is designed to prevent pension plans from pursuing environmental, social, and governance--or ESG--investing. But make no mistake, it is only the latest step in a campaign to prevent American financial institutions from making money from the clean energy revolution, and it should offend anyone who supports free markets.

The reason this is happening is that the fossil fuel industry faces a risk wall, where the risks associated with climate change are clear enough that retirement plan sponsors may want to consider them when investing assets. The Trump administration banned them from doing so, implementing a rule that pension fund managers couldn't consider ESG investing. The Biden administration's rule merely reverses this ban, going back to a neutral stance--going back to be a neutral stance. It is not telling them to do environmental, social, and governance goals; it is just saying: Do whatever you want. It is none of our business. The Federal Government has no business in determining how pension funds deploy their resources.

But rather than own up to the risks or reduce their emissions, the fossil fuel industry is trying to remove climate-related elements from risk consideration, and the Republican Party is helping.

This closely coordinated effort is being driven by a network of dark money organizations fronting for climate denial groups. One attacker of ESG investing is the Rule of Law Defense Fund--the political arm of the Republican State Attorneys General Association, which urged people to come to the Capitol on January 6 and aid in the attempted overthrow of our democracy.

This dark money helps to win elections, and the fossil fuel industry is becoming more aggressive because of the increase in green investing. Right now, more than $8 trillion in U.S. assets is under management employing sustainable investing strategies. ESG investing is expected to represent more than 20 percent of all global assets in the next 5 years, and this growth is occurring for one simple reason: It is profitable. It is profitable.

Some asset managers are pursuing sustainable investing at the behest of their clients. Others have determined sustainable investing fits a long-term strategy to grow retirement savings. Any plan sponsor considering sustainable investing is simply meeting the moment.

But here is the real point: It is their call. It is not our call. That is just capitalism in action, and the climate deniers are getting their butts kicked in the free market, and they are mad about it, and so they want to make a law to stop the bleeding.

Imagine an elected official telling an investment firm they can't offer large cap or small cap or emerging market funds or funds even that are exclusively for fossil energy. That would be preposterous. Why? Because people get to decide how to deploy their resources, and pension funds get to decide how to deploy their resources. But Republicans have decided that for this issue and only this issue, we should be telling pension fund managers how they can and can't invest.

The real reason for this is the Inflation Reduction Act has made it so profitable to invest in clean energy that they are losing, and they want an intervention from the Congress, so they decided to categorize ESG investing as something nefarious, as something tricky, as something woke. Come on. They are just losing. People don't want to invest in fossil fuel anymore, and so they are asking the Congress to intervene on their behalf.

This is not how the free market should work. If this passes, it will force financial firms to punish Americans on behalf of the fossil fuel industry. We cannot be intimidated. We have to reject this.

I yield the floor.

Mr. President, with the passing of Danny Kaleikini, Hawai'i has lost a legend. An incredibly talented musician and a wonderfully kind individual, Danny was a living embodiment of the aloha spirit, someone who represented the very best of Hawai'i.

Danny grew up on O'ahu, one of eight kids in a two-bedroom house. He started selling newspapers at 6 years old and found an early passion for music, learning to sing and play the trumpet and drums. After high school, he pursued a career in music--and in 1967, at just 29 years old, landed a twice-a-night show at the Kahala Hilton.

But Danny wasn't content just having a show. A savvy promoter, he would traverse Waikiki during the day, `ukulele player and hula dancer in tow, promoting that night's performance. And an astute businessman, he oversaw the managing, staging, and producing of it--becoming one of the first musicians to offer VHS tapes of shows.

For nearly 30 years, Danny took the stage 6-to-7 nights a week, performing more than 10,000 times in Honolulu, as well as at Carnegie Hall in New York, Caesars Palace in Las Vegas, and across Japan. He earned a Guinness book of records nomination, and a Lifetime Achievement Award from the Hawai'i Academy of Recording Arts. He even dabbled in acting, appearing in ``Hawai'i Five-O'' and in the 1970 movie ``The Hawaiians,'' where he arrested Charlton Heston.

But while his talent was undeniable, what set Danny apart was an unparalleled, infectious enthusiasm. Danny learned greetings in dozens of languages and enjoyed connecting with people from across the world. As another Hawai'i legend, comedian Andy Bumatai, once said, ``if aliens landed at the Hilton, Danny would greet them in their own language.''

Danny lived a life of joy, generosity, and aloha. His voice, warmth, and spirit will be well remembered and greatly missed. My thoughts and deepest sympathies are with his family and all those who loved him.

May he rest in peace and aloha. And may his spirit live on.

Mr. President, I ask unanimous consent that the Senate Committee on Indian Affairs rules for the 118th Congress be printed in the Record.

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. President, I ask unanimous consent that the Senate proceed to the consideration of S. Res 16, submitted earlier today.

I ask unanimous consent that the resolution be agreed to, the preamble be agreed to, and that the motions to reconsider be considered

made and laid upon the table with no intervening action or debate.

Mr. President, I ask unanimous consent that the Senate proceed to the consideration of S. Res. 17, submitted earlier today.

I ask unanimous consent that the resolution be agreed to, the preamble be agreed to, and that the motions to reconsider be considered made and laid upon the table with no intervening action or debate.

Mr. President, I understand there is a bill at the desk, and I ask for its first reading.

I now ask for a second reading, and in order to place the bill on the calendar under the provisions of rule XIV, I object to my own request.

Mr. President, I ask unanimous consent that when the Senate completes its business today, it stand adjourned until 3 p.m. on Monday, January 30; that following the prayer and pledge, the morning hour be deemed expired, the Journal of proceedings be approved to date, the time for the two leaders be reserved for their use later in the day, and the Senate be in a period of morning business with Senators permitted to speak therein for up to 10 minutes each.

For the information of the Senate, Senators should expect a rollcall vote at approximately 5:30 p.m. on Monday.

If there is no further business to come before the Senate, I ask that it stand adjourned under the previous order.

Mr. President, yes. I will yield. I withdraw my request.

Mr. President, I ask unanimous consent that the Senate proceed to the immediate consideration of the following bills en bloc: Calendar No. 473, H.R. 5271; Calendar No. 475, H.R. 5900; Calendar No. 476, H.R. 6386; Calendar No. 516, H.R. 5659; Calendar No. 517, H.R. 1095; and H.R. 5349, H.R. 5650, H.R. 5865, H.R. 5952, H.R. 6042, H.R. 6218, H.R. 6220, H.R. 6221, H.R. 6630, H.R. 7519, H.R. 7638, H.R. 8226, H.R. 8026, and H.R. 7514, all of which were received from the House.

I ask unanimous consent that the bills be considered read a third time and passed and that the motions to reconsider be considered made and laid upon the table, all en bloc.

Mr. President, I ask unanimous consent that the Committee on Homeland Security and Governmental Affairs be discharged and the Senate proceed to the immediate consideration of the following bills en bloc: S. 4411, H.R. 203--and the rest of them are all H.R.s--H.R. 2472,

I ask unanimous consent that the bills be considered read a third time and passed and that the motions to reconsider be considered made and laid upon the table, all en bloc.

Madam President, I ask unanimous consent that the order for the quorum call be rescinded.