House Judiciary Chair Jim Jordan, R-Ohio, expressed satisfaction over the unexpected news that several major U.S. banks and financial institutions are departing from a $68 trillion climate alliance established at the United Nations.

In a surprising series of announcements on Thursday, JPMorgan Chase, the world’s largest bank, and State Street Global Advisors, an institutional investor managing $3.5 trillion in assets, pulled out from the Climate Action 100+ investor group.

Simultaneously, BlackRock, with assets totaling over $10 trillion, significantly reduced its participation in the alliance.

This is great news because you’re supposed to make investment decisions based on just good common business sense, your fiduciary responsibility to your investors, not based on left-wing woke politics,” Jordan told Fox News Digital in an exclusive interview. “So, yeah, this is a win for America, a win for the economy, a win for Americans and investors and, more importantly, it’s a win for freedom.”

“The folks who are involved in these banks are smart people, successful people. They’ve done well. I think deep down they know decisions should be based on the market, on principles of capitalism, not on politics,” he added.

Written by B.C. Begley