Subject: File No. SR-NYSE-2023-09
From: Laura Pizarro

I am very opposed to both the creation of Natural Asset Companies and the Proposed Rule Change to Amend the NYSE Listed Company Manual to Adopt Listing Standards for NACs. I am also opposed to The United Nations' System of Environmental-Economic Accounting, intended to include forests, wetlands and other natural resources into calculating gross domestic product. Enactment of this rule (allowing NACs to be traded on the NYSE) would be a TERRIBLE idea and would equate to the BIGGEST LAND GRAB in American history! NACs are a direct threat to our natural resources, including oil and gas production, mineral development and our farming/ranching communities. It would adversely affect property rights (public AND private) in a massive way. NACs would be devastating to our country's food production and to our economy at a bare minimum. These NACs must not be allowed to trade on the NYSE! This would allow foreign countries / companies to obtain private & public natural assets by purchasing or just managing them through the NACs. By doing so, it would limit our ability to access or utilize the land! In other words, public land could/would be off limits to the general public. This would also significantly ratchet down the use of our land. This would most likely result in the selling off of our land to the highest bidders such as BlackRock - or any foreign country or interest, effectively locking us out of our land. What good is owning your own land if you have no control over it? Foreign entities would be able to buy/manage NAC's. This would give them the management rights to our land. They would be able to "lock the assets up" from the American people, and essentially allow the land to sit fallow. Russian, Chinese, or Saudi sovereign wealth funds might see particular value in locking up U.S. natural resources. In addition to the economic harm NACs would cause, there are national security implications as well.