To Whom It May Concern: Our planet faces the interconnected crises of rapid climate change and biodiversity loss. We have years, not decades, to address these existential threats. Collective effort is needed to address these complex challenges and risks, and scale approaches that deliver measurable, enduring outcomes for our planet. To do so will require significant mobilization of funds to bridge the biodiversity and climate finance gaps and put the world on a path to a sustainable future. We must protect nature and preserve healthy ecosystems if we are to safeguard a stable and biodiverse future. The Nature Conservancy supports the development and scaling up of innovative instruments to unlock finance to deliver investment in nature at scale. This is why we believe Natural Asset Companies (NACs) have potential as a new tool for countries and landowners to finance the protection and restoration of ecosystems around the world. We are also pleased to see that the NAC structure and proposed NYSE rules include environmental and social safeguards policies and a requirement to share benefits equitably with local communities. The Nature Conservancy is a global conservation organization dedicated to conserving the lands and waters on which all life depends. Guided by science, we create innovative, on-the-ground solutions to our world’s toughest challenges so that nature and people can thrive together. We are tackling climate change, conserving lands, waters and oceans at an unprecedented scale, providing food and water sustainably and helping make cities more sustainable. Working in more than 70 countries and territories, we use a collaborative approach that engages local communities, governments, the private sector, and other partners. Sincerely,