Utah Treasurer Marlo Oaks: SEC ‘financializing Mother Nature’ with Natural Asset Company rule

By Gabriella Hoffman

“A natural asset company is a new kind of company. And it’s not based on economic activity. It’s based on natural processes. So, I think of it as financializing Mother Nature. In order to be able to do that — because it’s not based on traditional economic activity.” — Utah Treasurer Marlo Oaks

In Episode 409 of District of Conservation, Gabriella interviews Utah Treasurer Marlo Oaks. Treasurer Oaks was first appointed to the position in July 2021 and then elected in November 2022. He and 21 other state financial officers forced the Securities and Exchange Commission (SEC) to reopen its proposed rule to list Natural Asset Companies – envisioned as a new Environmental, Social, and Governance (ESG) investment – on the New York Stock Exchange. Treasurer Oaks discusses why he jumped into the fight against ESG, why ESG isn’t market-oriented, how natural asset companies pose a threat to financial markets, property rights, and land access, and much more.

Listen on Apple Podcasts

EP 563: ICAST 2026 – Jeff Angers, Center for Sportfishing Policy District of Conservation

In Episode 563 of District of Conservation, Gabriella publishes the first of three ICAST 2026 interviews with Jeff Angers from Center for Sportfishing Policy. Jeff discusses the mood at ICAST, how Senator Lindsay Graham's death impacts recreational boating and fishing, what to make of the Trump administration's Make America Beautiful Again Commission's new report, vessel speed rule update, and sharks. Tune in to learn more!SHOW NOTESCenter for Sportfishing PolicyICAST
  1. EP 563: ICAST 2026 – Jeff Angers, Center for Sportfishing Policy
  2. EP 564: ICAST 2026 – Kristine Fischer, Kayak Bass Angler
  3. EP 365: ICAST 2026 – Jen Ripple, Dun Outdoors Editor-in-Chief
  4. EP 562: Great American State Fair & America250 on Public Lands
  5. EP 561: Hawaii & Virginia Spanked by Second Amendment (ft. Kostas Moros of Second Amendment Foundation)

SHOW NOTES

⁠Treasurer Oaks Biography⁠

⁠States Financial Officers Foundation⁠

⁠Natural Asset Companies | UT Treasurer Website⁠

⁠American Stewards of Liberty NAC Resource Page⁠

⁠Submit comments opposing the SEC’s NAC rule⁠

⁠NAC | NYSE⁠

⁠SEC Souring on ESG, Yet Promulgating Natural Asset Companies⁠

⁠Rep. Hageman: Natural Asset Companies Proposed Rule Threatens Property Rights⁠

⁠Senate Letter Opposing NACs⁠

⁠AG Reyes, 24 AGs Write SEC to Oppose “Natural Asset Companies” on the Exchange⁠

⁠RV Travel: BLM, SEC maneuvering to sell off public lands; future of camping could be significantly impacted⁠

⁠Natural Resources Committee: Members Initiate Probe Into SEC’s Rule Change Permitting Foreign Agents and Radical Activists to Control America’s National Parks and Lands

The post Utah Treasurer Marlo Oaks: SEC ‘financializing Mother Nature’ with Natural Asset Company rule appeared first on CFACT.


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