{"id":297063,"date":"2024-01-19T09:57:45","date_gmt":"2024-01-19T08:57:45","guid":{"rendered":"https:\/\/climatescience.press\/?p=297063"},"modified":"2024-01-19T09:57:48","modified_gmt":"2024-01-19T08:57:48","slug":"rule-proposal-critics-warned-could-harm-energy-security-rescinded-amid-mounting-scrutiny","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=297063","title":{"rendered":"Rule Proposal Critics Warned Could Harm Energy Security Rescinded Amid Mounting Scrutiny"},"content":{"rendered":"\n
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From The DAILY CALLER<\/a><\/p>\n\n\n

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NICK POPE<\/a><\/p>\n\n\n\n

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

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).<\/p>\n\n\n\n

The SEC had been\u00a0considering<\/a>\u00a0a NYSE proposal to allow NACs to be listed and traded on the NYSE, a policy which would permit American lands and ecosystem services to serve as the basis for a novel financial product. The agency\u00a0announced<\/a>\u00a0Wednesday that NYSE had withdrawn the proposal, ending the potential privatization of America\u2019s public lands and associated risks for energy and national security, at least for the time being.<\/p>\n\n\n\n

The SEC\u2019s notice of the withdrawal did not specify the particular reasons that motivated the NYSE to abort its effort to bring NACs to market. The NYSE had partnered<\/a> with the Intrinsic Exchange Group<\/a> (IEG), a for-profit company backed<\/a> by interests including the Rockefeller Foundation<\/a>, to advance the NAC proposal.<\/p>\n\n\n\n

\u201cAfter reviewing feedback from regulators, market participants and others, we have withdrawn our proposed rule filing to enable the listing of Natural Asset Companies,\u201d a spokesperson for the NYSE told the Daily Caller News Foundation. \u201cWe appreciate the work of Intrinsic Exchange Group, which approached us with the idea of creating this new asset class, as well as those who took the time to study this proposal and share their views with us.\u201d\u00a0(RELATED: Green Firm That Advised SEC On Proposed Emissions Rule Sold Carbon Credits From Chinese Region Known For Slave Labor)<\/a>\u00a0<\/strong><\/p>\n\n\n\n