Natural Asset Companies and More 'Conservation is Conservative' Tour Dates Added

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Beware of Natural Asset Companies

The ESG movement, as a whole, is not doing so hot these days. Yet, its proponents are looking for work-arounds with biodiversity reporting and deploying entities like natural asset companies (NACs) to “fight the climate crisis” and achieve net-zero by arbitrary deadlines. 

The SEC published a rule on October 4th to amend the New York Stock Exchange (NYSE) Listed Company Manual “to adopt a new listing standard for the listing of Natural Asset Companies.” The comment period ends on November 17th, 2023. 

"Ending the overconsumption of and underinvestment in nature requires bringing natural assets into the financial mainstream. To that end, the Exchange proposes to adopt listing standards to introduce a new type of public company called a NAC, a new concept pioneered by Intrinsic Exchange Group Inc. (“IEG”). Founded in 2017, IEG is a private company structured as a corporation organized under the laws of the State of Delaware that advises public sector and private landowners on the creation of NAC structures and strategies,” the rule reads. 

It continues, “NACs will be corporations that hold the rights to the ecological performance ( i.e., the value of natural assets and production of ecosystem services) produced by natural or working areas, such as national reserves or large-scale farmlands, and have the authority to manage the areas for conservation, restoration, or sustainable management. These rights can be licensed like other rights, including “run with the land” rights (such as mineral rights, water rights, or air rights), and NACs are expected to license these rights from sovereign nations or private landowners."”

The NYSE is already on board with NACs, heralding them as a “new class of listed company” prioritizing ecological services. Ecological services, or goods provided to us by nature, include timber, wetlands, forests, and pollinators. Why the embrace? NYSE, like the IEG, believes these entities will “fight” climate change and usher in “the transition to a more sustainable economy”—just like ESG.

More ‘Conservation is Conservative’ Speaking Dates Added

Good news: I’m continuing my fall 2023 speaking tour into November!

I kicked things off at Auburn University earlier this month. Next month, I’ll have two “Conservation is Conservative” lectures in Washington, D.C. and in Houston, Texas.

Here are details for the upcoming American University talk:

ICYMI: Fox Business Interview

Fellowship Opportunities for Winter 2024

• For freedom-minded women, I encourage you to apply for IWF’s Visiting Fellowship. Applications are due December 1st, 2023.

• And if you’re a young professional aged 18 to 35 and want to jumpstart your media career/improve upon your skills, apply for the Young Voices Contributor Program due November 30th, 2023.

ICYMI

Articles/commentary/media appearances from the past week.

• MEDIA MENTIONS

  • I joined Fox 5 DC to discuss the ongoing House Speaker kerfuffle.

• ARTICLES/BLOGS

  • IWF: Carbon Offsetting Will Doom The ESG Movement

  • Townhall: SEC Souring on ESG, Yet Promulgating Natural Asset Companies

  • IWF: USFWS Declares 21 Species Extinct, Blames Storage Of Federal Funds

Podcasts You May Have Missed

Catch up on District of Conservation episodes below.

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—Gabriella