House Judiciary Committee Chairman Jim Jordan (R-Ohio) is applauding the move by several major American and global financial institutions to withdraw from a $68 trillion climate alliance established by the United Nations and supported by the Biden administration.
In an unexpected development on Thursday, JPMorgan Chase, the world’s largest bank, and State Street Global Advisors, an institutional investor with assets totaling $3.5 trillion, declared their departure from the Climate Action 100+ investor group. Additionally, BlackRock, managing assets exceeding $10 trillion, notably scaled back its involvement in the alliance, Fox News reported.
“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. “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.
Under Jordan’s leadership, the House Judiciary Committee launched a thorough investigation into what he labeled the “climate-obsessed corporate ‘cartel'” in December 2022, coinciding with the impending Republican takeover of the chamber. The committee’s primary focus has been to scrutinize whether the financial sector, aided by nonprofit activist climate groups, is violating U.S. antitrust laws.
The Biden administration has prioritized ‘climate change’ policy, such as pushing electric vehicles and enacting measures that many believe are harmful to the country’s national and economic security.
“I think we’ve done more subpoenas and more interviews and written more letters than probably most of the rest of Congress combined,” Jordan told Fox News regarding the investigation.
“We have been pushing for stopping this kind of coordination and collusion that we think is harmful to the economy, to freedom, to investors,” the Judiciary Committee chair noted further. “So, you know, we’re just doing our job, and we’re happy to see that three huge banks — the decision they made today, and I think, as I said before, it’s a win for the country.”
