Subject: File No. SR-NYSE-2023-09
From: Jennifer Pevny

I am 100% opposed to the proposal to create Natural Asset companies. This is an existential threat to national security and an overreach of federal power over constitutional states rights. This also threatens our nations ability to secure necessary resources in the future. Do not approve this. The proposed rule seeks to establish a new class of investment entity, so-called "Natural Asset Companies." While it's described to the general public as a means for protection of natural resources created in response to our alleged and unprovable "climate crisis," it's a naked attempt to undermine private and state property rights, without congressional authority, and would seem to be an open invitation to a slew of major lawsuits from states and citizens groups on basic separation of powers and fundamental natural rights grounds. There are several major concerns with this proposed rule. For example, the rule would enable both private and public lands (both state and federal), including national parks and monuments,to be included in the NAC. Subsequently, management and virtual control of the natural resources on these lands could be transferred from public accountability (via state and federal elected representative oversight) to private, unaccountable hands. How can a private investment company gain management authority over public lands currently within state legislature or congressional authority constitutionally delegated to appropriate land/water management agencies? There are clear 10th Amendment conflicts inherent in this rule. Further, this rule apparently can undermine the contractual authority of conservation easements through land trusts without the landowner's permission, a fundamental 5th Amendment infringement. No legal due process is visible within the structure of this proposed rule. I have contacted my elected state and federal representatives regarding the blatant presumptuousness, if not outright unconstitutionality, of this proposed rule. For these and other reasons, I urge you to withdraw it from further consideration.