Committee Continues Probe into the Natural Asset Scheme
The House Natural Resources Subcommittee on Oversight and Investigations will be holding a hearing today to examine the Biden Administration’s strategy to create “Natural Capital Accounts (NCA’s).”
NCA’s are being created to quantify and monetize natural processes for the purpose of increasing the federal collateral and listing these on the federal balance sheet. They are the federal attempt to do what the private sector failed to do through “Natural Asset Companies (NACs),” which was defeated last month.
The Committee had initiated a probe into NACs, which is one of the key reasons the New York Stock Exchange withdrew their application. Instead of dropping the issue, however, the Committee has turned its attention to investigating the White House’s attempt to monetize ecosystem services on America’s land while circumventing Congress.
The hearing titled Bidenomics & Land Management: The Misguided National Strategy to Develop Environmental Economic Decisions will be livestreamed at 2 pm ET. You can read the committee report here.
