DaveInDenver
Rising Sun Ham Guru
Natural Asset Companies
If you have not heard of them it is not surprising, the SEC was trying to sneak them in under the radar in a 21-day comment period that originally would have ended on 10/23/2023 but later pushed to 1/2/2024.
A few people noticed and got the comment period delayed again, now Jan 18, 2024. Utah State Treasurer Marlo Oaks is the point on this but a few U.S. Representatives and Senators are also up to speed and at least want public awareness as to what Wall Street wants to do with our land.
The main thrust seems to be to control extraction and resource rights. The accounting wouldn't value the NAC primarily on traditional metrics such as profit-and-loss or share value and would require a new filing, a so-called Ecological Performance Report.
It won't necessarily preventing any land use per se, although the rule proposes that "Therefore, all NACs are prohibited from directly or indirectly conducting unsustainable activities, such as mining, that lead to the degradation of the ecosystems it is trying to protect." that leaves it broadly unspecific. NACs would fully privatize the decisions and bypass public input or scrutiny. Any land is eligible for designation in these NACs, private, local, state or Federal land including National Parks, BLM, USFS, Fish and Wildlife.
From the proposed rule:
There's little doubt this will harm rural areas, non-corporate farms and ranches. Not much is mentioned about recreational impacts except for one vague passing reference to revenue generated from eco-tourism. But with the Federal land managers rushing to get onboard without so much as telling us about them it's hard to imagine it as encouraging to free-and-open access. At best it would seem NAC will see use only in Dollar signs weighed against alternative investment based on what revenue lotteries, permits, subscriptions, passes can generate.
Mr. Oaks' Wall Street Journal op-ed is pay walled but it's an important flag that was waved to bring attention to it.
https://www.wsj.com/articles/biden-administration-invents-companies-that-cant-make-money-ad71f8f3
https://treasurer.utah.gov/for-utah...designed-to-lock-up-private-and-public-lands/
https://americanstewards.us/natural-asset-companies/
https://justthenews.com/politics-po...-over-rushed-natural-asset-companies-proposal
https://palmettostatewatch.com/natural-asset-companies/
https://thefederalnewswire.com/stor...et-companies-will-cripple-land-use-in-america
If you have not heard of them it is not surprising, the SEC was trying to sneak them in under the radar in a 21-day comment period that originally would have ended on 10/23/2023 but later pushed to 1/2/2024.
A few people noticed and got the comment period delayed again, now Jan 18, 2024. Utah State Treasurer Marlo Oaks is the point on this but a few U.S. Representatives and Senators are also up to speed and at least want public awareness as to what Wall Street wants to do with our land.
The main thrust seems to be to control extraction and resource rights. The accounting wouldn't value the NAC primarily on traditional metrics such as profit-and-loss or share value and would require a new filing, a so-called Ecological Performance Report.
It won't necessarily preventing any land use per se, although the rule proposes that "Therefore, all NACs are prohibited from directly or indirectly conducting unsustainable activities, such as mining, that lead to the degradation of the ecosystems it is trying to protect." that leaves it broadly unspecific. NACs would fully privatize the decisions and bypass public input or scrutiny. Any land is eligible for designation in these NACs, private, local, state or Federal land including National Parks, BLM, USFS, Fish and Wildlife.
From the proposed rule:
"NACs will be corporations that hold the rights to the ecological performance (i.e., the
value of natural assets and production of ecosystem services) produced by natural or working
areas, such as national reserves or large-scale farmlands, and have the authority to manage the
areas for conservation, restoration, or sustainable management. These rights can be licensed like
other rights, including “run with the land” rights (such as mineral rights, water rights, or air
rights), and NACs are expected to license these rights from sovereign nations or private
landowners."
There's little doubt this will harm rural areas, non-corporate farms and ranches. Not much is mentioned about recreational impacts except for one vague passing reference to revenue generated from eco-tourism. But with the Federal land managers rushing to get onboard without so much as telling us about them it's hard to imagine it as encouraging to free-and-open access. At best it would seem NAC will see use only in Dollar signs weighed against alternative investment based on what revenue lotteries, permits, subscriptions, passes can generate.
Mr. Oaks' Wall Street Journal op-ed is pay walled but it's an important flag that was waved to bring attention to it.
https://www.wsj.com/articles/biden-administration-invents-companies-that-cant-make-money-ad71f8f3
https://treasurer.utah.gov/for-utah...designed-to-lock-up-private-and-public-lands/
https://americanstewards.us/natural-asset-companies/
https://justthenews.com/politics-po...-over-rushed-natural-asset-companies-proposal
https://palmettostatewatch.com/natural-asset-companies/
https://thefederalnewswire.com/stor...et-companies-will-cripple-land-use-in-america
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