Last Fall, radical Greens and their woke allies in Big Business moved to create something called “Natural Asset Companies” [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. They wanted to stop any so-called “unsustainable practices” like mining, logging, energy production, etc., that might (perish the thought) make a profit.

The Securities and Exchange Commission initially bought into this wacky Green scheme. But last week, the New York Stock Exchange withdrew its request to the SEC to create these firms. Voila, another victory for private property rights in America!

When we learned that the anti-land use crowd was seeking permission to lock up land by creating these so-called “natural asset companies,” CFACT took action.

We first joined forces with our good friends at the American Stewards of Liberty and put this on the radar of many politicians and policy outfits. We did this, for example, at our 30×30 property rights conference we co-sponsored with them in Dallas last September.

We also sent in comments opposing NACs to the SEC. Read our detailed regulatory submission at CFACT.org.

CFACT senior policy analyst Bonner Cohen explains that “natural asset companies” are a ploy “designed not to make money for investors, but to serve as an instrument for the imposition of illegal and unconstitutional environmental policy on millions of acres of private and public lands across the United States.”

Utah Treasurer Marlo Oaks told CFACT’s Gabriella Hoffman that:

I am pleased by the NYSE’s decision to withdraw this dangerous proposal. I appreciate the efforts of so many to provide input to the SEC, NYSE, and their elected representatives. This news illustrates the impact of public engagement on important issues. The proposed creation of Natural Asset Companies is one of the greatest threats to rural communities in the history of our nation. Under the proposal, private interests, including foreign-controlled sovereign wealth funds, could use their capital to purchase or manage farmland, national and state parks, and other mineral-rich areas and stop essential economic activities like farming, grazing, and energy extraction.

Treasurer Oaks could not be more right.  It is important that we who value freedom and prosperity participate fully in the public policy process and that we do so to the highest standard of scholarship.

CFACT is proud to have joined the effort to block the damage “natural asset companies” would do to America.

We’ll keep a vigilant watch for the Greens to try again.