Subject: File No. SR-NYSE-2023-09
From: Deborah Cain

NAC companies would be given license to control lands, both public and private, and would be required not to conduct any “unsustainable activities, such as mining, that lead to the degradation of the ecosystems. NACs would prevent the productive use of the land, which would hurt the landowners financially, but also reduce the supply of minerals, food, and other goods that come from the land. NACs would quantify and monetize these natural outputs (such as air or water). The best comparison would be using the air we breathe as a cryptocurrency of sorts. And, these natural assets that collectively belong to all of us would now belong to corporations run by what many would call environmental special interests. These efforts intentionally prioritize environmentalism over human flourishing.