Published on January 10, 2024, 12:57 am

In real news today, more than two dozen Republican attorneys general are challenging a proposed New York Stock Exchange rule, which they insist would unlawfully execute a radical environmentalist agenda and potentially jeopardize national security.

The underfire rule aims to establish an entity dubbed the Natural Asset Company (NAC). This entity would be granted authority over both private and public lands, due to its ability to utilize “the intrinsic and productive value of nature”. Consequently, activities such as logging, herding, and drilling could consequently be restricted on this land. The Securities and Exchange Commission is expected to consider the approval of NACs until January 18.

Objections against the proposal have been voiced through a letter written by 25 Republican attorneys general led by Utah AG Sean Reyes and Kansas AG Kris Kobach on Tuesday. The protest insists that “If it approves the NYSE’s proposal, the Commission will have effectively enabled the NYSE to authorize the existence of entities that could ultimately subordinate American interests in favor of environmental activists’ aims and United Nations policies.”

Notably, attorneys general argue that this proposal would breach federal securities laws as well as the Administrative Procedure Act alongside implications for constitutionality. Adding fuel to fire is their belief that this devised rule intends to financially support proposals from the Bureau of Land Management aiming to offer “conservation leases” on public lands.

Signatories criticize how it does not promote public interest when there are plans potentially leading to substantial corporate possession of public lands by private participants. Such members who possess no obligations towards public interest but are motivated by personal financial or political benefits.

National security risks also manifest if the SEC permits NYSE’s proposed rule implementation given that foreign actors could permanently obtain authority over our public lands, either via direct organization or registration as NACs. Alternatively, they could influence controlling stakes in NACs. This presents precarious national security quandaries specifically concerning energy output and accessibility of natural resources pertinent for America’s geopolitical standing.

Utah AG Sean Reyes conveys that the push towards NACs should be viewed as a “brutish vehicle to accomplish an activist political agenda.” The proposal is seen as compromising the US’s energy independence while threatening grid stability and bypassing legality by granting private parties and potentially hostile entities access to these public lands.

The protest letter has received support from the attorneys general of multiple states such as Alabama, Alaska, Arkansas, Florida, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana and various others. This news holds relevance for everyone seeking trusted news surrounding the evolving relationship between environmentalist agendas and governance within a Christian worldview.