WASHINGTON, D.C. – Today, Senators John Barrasso and Cynthia Lummis (both R-WY) released the following statement after the New York Stock Exchange (NYSE) withdrew its proposal that would pave the way for Natural Asset Companies (NACs) to be listed on the NYSE. This is a victory for the state of Wyoming, which would be negatively impacted by NAC’s ability to raise capital to purchase the rights to natural assets and restrict mining, grazing, logging, recreation and other economic development on any affected public or private lands.
“The New York Stock Exchange’s overreaching proposal would have surrendered America’s public lands to the highest bidder,” said Barrasso. “Given the understandable backlash from those who live and work on our public lands, the Securities and Exchange Commission (SEC) withdrew this rule before it could take effect. Axing this rule allows for the continuation of responsible land and resource management activities including mining, grazing, energy production and timber logging across Wyoming.”
“The New York Stock Exchange’s decision not to list natural asset companies is a huge victory for Wyoming and dismantles the Biden administration’s latest land grab attempt,” said Lummis. “For far too long, this administration has openly empowered radical environmental activists to use the full force of the federal government to jeopardize western industry and threaten the way of life we cherish. The Biden administration’s effort to weaponize NACs to lock up our public lands, hinder rural economies and limit domestic energy production underscores the urgent need to defend our beautiful landscapes from elite green new deal extremists, and I will continue to unapologetically defend our pioneer values from these blatant greenwashing attempts.”
Last year, the NYSE proposed a rule, reviewed by the U.S. Securities and Exchange Commission (SEC), to amend the NYSE Company Manual to adopt listing standards for NACs which would allow them to be listed on the exchange.
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