Republican AGs warn proposed environmental rule could compromise national security
Republican Attorneys General Challenge NYSE Rule, Citing Environmentalist Agenda and National Security Concerns
Over two dozen Republican attorneys general are taking a stand against a proposed rule from the New York Stock Exchange (NYSE) that they argue would unlawfully advance an extreme environmentalist agenda and pose a threat to national security.
The NYSE’s rule aims to establish a new entity called a Natural Asset Company (NAC), which would have the authority to control both private and public lands. By capturing the “intrinsic and productive value of nature,” the NAC would have the power to prohibit activities such as logging, herding, and drilling on the land. The Securities and Exchange Commission (SEC) is currently reviewing the proposal and accepting public comments until January 18.
Republican Attorneys General Voice Concerns
“If it approves the NYSE’s proposal, the Commission will have effectively enabled the NYSE, the most well-known and influential stock exchange on earth, to authorize the existence of entities that could ultimately be used to subordinate the interests of millions of Americans to the aims of environmental activists as well as to United Nations policies and mandates,” expressed a letter signed by 25 Republican attorneys general, led by Utah AG Sean Reyes and Kansas AG Kris Kobach.
The attorneys general argue that the proposed rule would violate federal securities laws, the Administrative Procedure Act, and the Constitution. They also claim that the rule is intended to fund another proposal from the Bureau of Land Management, which seeks to grant “conservation leases” on public lands.
Concerns Over Corporate Takeover and National Security
The letter further states, “It is not in the public interest to facilitate a massive corporate takeover of public lands by private actors who owe no duty to the public and who are guided by their own financial and political interests. Yet that is precisely what the proposed rule does.”
The attorneys general also raise national security concerns, warning that the rule could allow foreign actors to gain perpetual control over public lands. This could occur either through organizing and registering as NACs or by obtaining controlling interests in NACs. Given the significance of energy production and natural resource availability to America’s geopolitical position, this poses a serious threat to national security.
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Utah AG Sean Reyes describes the push for NACs as a “brutish vehicle to accomplish an activist political agenda.” He emphasizes that these entities would restrict public land use in ways that could jeopardize U.S. energy independence and grid stability, while also unlawfully granting management, use, and ownership of these lands to private parties, including potentially hostile countries or entities.
The letter was signed by the attorneys general of Alabama, Alaska, Arkansas, Florida, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nebraska, North Dakota, New Hampshire, Ohio, Oklahoma, South Carolina, Tennessee, Utah, Texas, Virginia, West Virginia, and Wyoming.
How does the NYSE’s “Great Reset” initiative aim to reconfigure the global economy towards a more sustainable and equitable model?
NYSE, known as the “Great Reset” initiative, which seeks to reconfigure the global economy and shift it towards a more sustainable and equitable model. The attorneys general further assert that the NYSE’s proposal could undermine the property rights of American citizens and threaten national security by allowing foreign entities access to crucial industries such as energy and agriculture.
Supporters of the NYSE’s rule argue that it is an important tool in addressing climate change and protecting the environment. They believe that by placing a monetary value on natural assets, the NAC would encourage conservation efforts and spark innovations in environmental sectors. Proponents also contend that the rule would create opportunities for investors to participate in the growing green economy and help drive the transition to a more sustainable future.
However, the Republican attorneys general remain skeptical and argue that the NYSE’s rule would set a dangerous precedent of granting the government and private entities unbridled power over property rights. They suggest that the issue at hand is not whether we should protect the environment, but rather how this should be done in a way that respects individual liberties and the principles of our constitutional republic.
This battle between the Republican attorneys general and the NYSE raises important questions about the role of government and the extent of its authority . It also highlights the ongoing debate between environmentalists, who are advocating for stronger governmental intervention, and conservatives, who are concerned with preserving the fundamental principles of limited government and individual liberties.
Ultimately, the decision on whether to approve the NYSE’s proposed rule rests with the Securities and Exchange Commission. It is crucial for the SEC to carefully consider the potential implications and consequences of this rule, as it could have far-reaching effects on property rights, the economy, and national security.
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