The Job Creators Network, founded by Home Depot co-founder and former CEO Bernie Marcus, is praising President Donald Trump’s decision to withdraw the United States from participating in the Paris Climate Treaty.

The Georgia-based organization applauded the “positive impact the move will have on small businesses, jobs, and wages.”

“Because the treaty required the U.S. to reduce emissions by between 26 percent and 28 percent below 2005 levels by 2025, it would have forced small businesses to use far more expensive forms of energy, which is already a major cost for many small businesses,” Job Creators Network said in a statement. “This burden would have reduced their ability to expand, create jobs, and increase wages.”

The statement went on to say:

In Europe, where energy is highly regulated, electricity costs are roughly triple that of the U.S. In Germany, where energy is especially heavily regulated, electricity has become “a luxury good” according to a major national paper. The regulations associated with the Paris Climate Treaty would have only added to the $83,000 regulatory burden facing the average small business, according to a new National Small Business Association survey.

President Trump fulfilled a major campaign promise Thursday when he announced America’s withdrawal from the Paris Climate Agreement.

“In order to fulfill my solemn duty to protect America and its citizens, the United States will withdraw from the Paris Climate Accord,” Trump declared in a speech delivered in the White House Rose Garden. “We will see if we can make a deal that’s fair. And if we can, that’s great. And if we can’t, that’s fine.”

Trump’s decision was blasted by left-wing celebrities, liberal lawmakers, and former president Barack Obama, who signed the agreement in April 2016.

Job Creators Network founder Bernie Marcus said Trump’s decision is a “major win for the 85 million Americans whose livelihoods depend on small businesses.”

“By avoiding the self-inflicted wound associated with kneecapping this country’s energy industry, the president has kept electricity costs reasonable for all businesses,” Marcus said, adding:

Exiting this treaty is also a victory for all Americans, who will avoid having their limited disposable income diverted to pay for the priorities of a global elite. The move frees the U.S. from an unfair deal that would have allowed China and India to build coal plants at America’s expense. By withdrawing from this destructive treaty, the president has put Americans first.

Job Creators Network advocates on behalf of thousands of U.S.-based small business owners and lobbies for lower taxes and fewer regulations, as the best means to achieve economic dynamism.

Follow Jerome Hudson on Twitter @jeromeehudson