“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.
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SHOW NOTES
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
SEC Souring on ESG, Yet Promulgating Natural Asset Companies
Rep. Hageman: Natural Asset Companies Proposed Rule Threatens Property Rights
AG Reyes, 24 AGs Write SEC to Oppose “Natural Asset Companies” on the Exchange