Jan. 12, 2024
This not a free market entity. NACs are highly irregular and bastardize capital markets for political objectives. It is a political tool meant to subvert the legal process. A high level of scrutiny will show this is a very dangerous and frightening effort to financialize productive natural resources by subverting the legal system, perverting the capital markets, and causing harmful outcomes for both investors and the United States. NACs cannot be enabled. NACs aren’t seeking to manage resources to improve their earnings potential. Rather they would seek to remove the productivity of assets in the name of some type of climate justice. Not only could this impact our ability to generate and access energy, critical minerals, water and food, but it could all too easily put those decisions in the hands of institutions, foreign governments and their sovereign wealth funds, and other bad actors who would invest in these NACs and have de facto control over America’s resources. Unspeakable! NACs are an absurd proposition which allows companies to make money off of monetizing aspects of nature (which belongs to everyone), by controlling nature and allowing critical natural productive resources needed for our survival, to be subject to the consolidation of a handful of wealthy and powerful individuals, including foreign entities. This control of productive resources, including our food supply, water, energy, tourism and more, could end up in the hands of foreign nations and their sovereign wealth funds or other bad actors. SEC is supposed to make sure the markets are free and fair for everyone. Please do the right thing, and not that which is politically-pushed and elite power-driven; do not allow NACs to access our capital markets via NYSE listings or otherwise. Thank you for your consideration. Diane Wolta, Denver CO