Subject: File No. SR-NYSE-2023-09
From: Robert Gast

The very idea of financialized natural processes, administered and managed by "Natural Asset Companies" (NACs), would ultimately "normalize" an entirely new type of structure/accounting, which would provide access to federal, state and private land, and in turn create arbitrary values to natural processes, thus potentially locking up lands away from ANY PRODUCTIVE USE (Ranching, Farming, Drilling, Mining, some recreation, etc.). This concept is wrong on so many levels and ripe for fraud, corruption, and UN type of accounting that is not in line with GAP accounting. It would further create a national security concern since every single acre managed by an Natural Asset Company can NOT be used, thus making valuable resources unavailable. As an example, China could invest and lock up American resources that compete with them or have national security implications such as lithium. Or, economic adversaries such as Saudi Arabia could lock up land with oil. The United States of America needs to manage its lands. NACs would take on the management from federal and state governments. NACs may or may not have the expertise for this. Last, and very important, NACs can gain control of private land through conservation easements. For the above and many other common sense reasons, the new rule proposed by SEC should be voted down by our Congressional Representatives and elected officials (state treasurers, AGs, etc.).