{"id":294434,"date":"2024-01-10T14:50:56","date_gmt":"2024-01-10T13:50:56","guid":{"rendered":"https:\/\/climatescience.press\/?p=294434"},"modified":"2024-01-10T14:51:00","modified_gmt":"2024-01-10T13:51:00","slug":"natural-asset-companies-greenwashing-wolves-in-eco-friendly-wool","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=294434","title":{"rendered":"Natural Asset Companies: Greenwashing Wolves in Eco-Friendly Wool"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From Watts Up With That?<\/a><\/p>\n\n\n\n

Natural Asset Companies are an abomination in the process of being considered for listing as public companies on the New York Stock Exchange, by the US Securities and Exchange Commission. The evils of this new type of entity cannot be overstated. We reproduce by permission Carol Roth\u2019s letter to the SEC<\/a> explaining what these types of entities are and why they should not be approved to exist.<\/p>\n\n\n\n

\n\n\n\n

My letter sent to the SEC against NACs:<\/p>\n\n\n\n

To: rule-comments@sec.gov<\/p>\n\n\n\n

Subject: File No. SR-NYSE-2023-09 Asking the SEC to NOT ALLOW NACs<\/p>\n\n\n\n

To all involved at the SEC:<\/p>\n\n\n\n

I am urging the SEC to NOT allow the NYSE to list \u201cNatural Asset Companies\u201d or NACs, pursuant to File No. SR-NYSE-2023-09.<\/p>\n\n\n\n

I am a capitalist to my core, but believing in free markets requires some ground rules, which cannot and must not be manipulated to keep the playing feel level and fair and to engender positive outcomes. The continued efforts to financialize productive natural resources to subvert the legal system, to pervert the capital markets, and to cause harmful outcomes for both investors and the US alike cannot be enabled.<\/p>\n\n\n\n

I have been in and around the capital markets my entire career. I owned my own broker-dealer at one point. I have advised on many IPOs and follow-on offerings in corporate finance. I have held various financial licenses. And, with such experience, it is clear that from an investor protection perspective, NACs bastardize the capital markets for a political objective.<\/p>\n\n\n\n

NACs are not only a \u201cnew type of company\u201d, something that is highly irregular and should require much scrutiny, but also have employed their own type of accounting system. This comes directly from the creator of the \u201cNACs\u201d, IEG\u2019s Chairman & CEO, who said has said, \u201cWe created a new accounting system, which we called Statements of Ecological Performance, which account for the flow of ecosystem services in financial terms.\u201d<\/p>\n\n\n\n

(Source: https:\/\/investinginregenerativeagriculture.com\/2022\/11\/29\/douglas-eger\/<\/a>). Even if they use GAAP accounting within NAC financial reporting, their hubris that there is some separate accounting measures to be used within the financial markets raises too many red flags to count and should be immediately disqualifying.<\/p>\n\n\n\n

NACs seek to use others\u2019 money, including that obtained via the capital markets, to buy the ability to control or \u201cmanage\u201d productive public and private land and other natural resources. Their stated purpose in doing so is not to make a profit or to be productive, but rather to protect, conserve, restore and preserve these natural \u201cassets\u201d, based on whatever their own definitions of those activities are.<\/p>\n\n\n\n

As you well know, there is a very clear reason that a company goes public. It is to broadly access capital to provide both funding for growth and liquidity for existing investors, providing opportunities for investors to participate in future growth for the risk they take on. Companies are supposed to have strong merits and provide a path to growth for public investors in exchange. It is a rigorous and costly process both to become public and to stay public, and it is not for every business.<\/p>\n\n\n\n

These NACs are a bastardization of that purpose.<\/p>\n\n\n\n

Not only could this impact our ability to generate and access energy, critical minerals, water and food, but it could also put those decisions in the hands of institutions, such as foreign governments and their sovereign wealth funds, who could invest in these NACs and have de facto control over America\u2019s resources.<\/p>\n\n\n\n

The focus on the SEC is protecting investors. NACs allow investor money, particularly those deployed through entities that they may not control, such as pension funds, for example, to be used to decommission resources and make them non-productive for political means. Americans and the SEC cannot allow that to happen.<\/p>\n\n\n\n

If you have any questions on whether this is a political tool meant to subvert the legal process, read the words of IEG\u2019s Chairman, who said, \u201cWe were looking for a private-sector approach that wasn\u2019t dependent on policy, it wasn\u2019t dependent on traditional taxes, regulation or philanthropy to price in these assets and give investors the opportunity to invest directly in nature, whether that\u2019s for climate or biodiversity.\u201d (Source: https:\/\/eenews.net\/articles\/invest-in-nature-might-be-possible-with-natural-asset-companies<\/a>\/).<\/p>\n\n\n\n

The bad outcomes here will include the subjugation of the fiduciary duty to do what is in the best interest of investors. Critical natural resources will be subject to the consolidation of a handful of wealthy and powerful individuals. And, even more frightening, control of productive resources- as well as our food supply, water, energy, tourism and more- could end up in the hands of foreign nations and their sovereign wealth funds or other bad actors.<\/p>\n\n\n\n

Wall Street often cultivates a bad reputation and the SEC is supposed to be a counterbalance to make sure the markets are free and fair for everyone and have the interests of all investors at heart. Do the right thing, and not that which is politically-pushed and elite power-driven; do not allow NACs to access our capital markets via NYSE listings or otherwise.<\/p>\n\n\n\n

\n\n\n\n

For more from Carol Roth, visit\u00a0CarolRoth.com<\/a>\u00a0or follow here on X (formerly Twitter)\u00a0@caroljsroth<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Natural Asset Companies are an abomination in the process of being considered for listing as public companies on the New York Stock Exchange, by the US Securities and Exchange Commission. The evils of this new type of entity cannot be overstated.<\/p>\n","protected":false},"author":121246920,"featured_media":294436,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"Natural Asset Companies are an abomination in the process of being considered for listing as public companies on the New York Stock Exchange, by the US Securities and Exchange Commission. The evils of this new type of entity cannot be overstated.","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691826120,691826119,691826123,691826121,691826122],"class_list":{"0":"post-294434","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-eco-friendly-wool","9":"tag-greenwashing-wolves","10":"tag-natural-asset-companies","11":"tag-natural-resources","12":"tag-productive-public-and-private-land","14":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/image-159.png?fit=1024%2C1024&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1eAW","jetpack-related-posts":[{"id":297063,"url":"https:\/\/climatescience.press\/?p=297063","url_meta":{"origin":294434,"position":0},"title":"Rule Proposal Critics Warned Could Harm Energy Security Rescinded Amid Mounting Scrutiny","author":"uwe.roland.gross","date":"19\/01\/2024","format":false,"excerpt":"The New York Stock Exchange (NYSE) withdrew its proposal that would pave the way for \u201cNatural Asset Companies\u201d (NACs) to become a new type of financial product on Wednesday, according to the Securities and Exchange Commission (SEC).","rel":"","context":"In \"Climate\"","block_context":{"text":"Climate","link":"https:\/\/climatescience.press\/?tag=climate"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/image-314.png?fit=1024%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/image-314.png?fit=1024%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/image-314.png?fit=1024%2C1024&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/image-314.png?fit=1024%2C1024&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":297111,"url":"https:\/\/climatescience.press\/?p=297111","url_meta":{"origin":294434,"position":1},"title":"Victory! SEC drops \u201cnatural asset companies.\u201d Read our official submission","author":"uwe.roland.gross","date":"19\/01\/2024","format":false,"excerpt":"Read CFACT\u2019s official Submission to SEC: \u201cNatural asset companies\u201d are a ploy by the anti-development crowd to thwart safe and constructive land use. The SEC should not sanction non-use over optimal use of resources.","rel":"","context":"In \"Committee for a Constructive Tomorrow\"","block_context":{"text":"Committee for a Constructive Tomorrow","link":"https:\/\/climatescience.press\/?tag=committee-for-a-constructive-tomorrow"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0-Victory.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0-Victory.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0-Victory.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0-Victory.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0-Victory.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":299189,"url":"https:\/\/climatescience.press\/?p=299189","url_meta":{"origin":294434,"position":2},"title":"Victory as dangerous \u201cnatural asset companies\u201d proposal fails","author":"uwe.roland.gross","date":"31\/01\/2024","format":false,"excerpt":"Last Fall, radical Greens and their woke allies in Big Business moved to create something called \u201cNatural Asset Companies\u201d [NACs]. These were cockamamie firms, designed to be placed on the New York Stock Exchange for the purpose of tying up public and private lands by doing nothing on them whatsoever.","rel":"","context":"In \"Big Business\"","block_context":{"text":"Big Business","link":"https:\/\/climatescience.press\/?tag=big-business"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Victory-Wallpaper-3.jpg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Victory-Wallpaper-3.jpg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Victory-Wallpaper-3.jpg?fit=1200%2C800&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Victory-Wallpaper-3.jpg?fit=1200%2C800&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0Victory-Wallpaper-3.jpg?fit=1200%2C800&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":296175,"url":"https:\/\/climatescience.press\/?p=296175","url_meta":{"origin":294434,"position":3},"title":"Utah Treasurer Marlo Oaks: SEC \u2018financializing Mother Nature\u2019 with Natural Asset Company rule","author":"uwe.roland.gross","date":"17\/01\/2024","format":false,"excerpt":"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.","rel":"","context":"In \"\u2060Natural Resources Committee:\"","block_context":{"text":"\u2060Natural Resources Committee:","link":"https:\/\/climatescience.press\/?tag=%e2%81%a0natural-resources-committee"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0UT-Marlo-Oaks.png?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0UT-Marlo-Oaks.png?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0UT-Marlo-Oaks.png?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0UT-Marlo-Oaks.png?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0UT-Marlo-Oaks.png?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":298343,"url":"https:\/\/climatescience.press\/?p=298343","url_meta":{"origin":294434,"position":4},"title":"NYSE withdraws Biden-backed rule that would stymie development on millions of acres","author":"uwe.roland.gross","date":"24\/01\/2024","format":false,"excerpt":"Facing growing public resistance and the near certainty of a resounding defeat in the courts, the New York Stock Exchange (NYSE) Jan. 17 withdrew a proposed rule that would have created a new asset class \u2014 known as \u201cNatural Asset Companies\u201d (NACs) \u2014 designed not to make money for investors,\u2026","rel":"","context":"In \"Bureau of Land Management\u2019s (BLM)\"","block_context":{"text":"Bureau of Land Management\u2019s (BLM)","link":"https:\/\/climatescience.press\/?tag=bureau-of-land-managements-blm"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0facade-New-York-Stock-Exchange-City.webp?fit=1200%2C792&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0facade-New-York-Stock-Exchange-City.webp?fit=1200%2C792&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0facade-New-York-Stock-Exchange-City.webp?fit=1200%2C792&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0facade-New-York-Stock-Exchange-City.webp?fit=1200%2C792&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/01\/0facade-New-York-Stock-Exchange-City.webp?fit=1200%2C792&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":297478,"url":"https:\/\/climatescience.press\/?p=297478","url_meta":{"origin":294434,"position":5},"title":"Beware the SEC’s Creation of ‘Natural Asset’ Companies","author":"uwe.roland.gross","date":"19\/01\/2024","format":false,"excerpt":"To anyone who tracks the efforts of environmentalists, their policies often have an ulterior motive. 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