The New York Stock Exchange attempted to form Natural Asset Companies (NACs) with the support of Intrinsic Exchange Group backed by world elites like the Rockefeller Foundation in late 2023 and early 2024.
These Natural Asset Companies would have gained control of America’s natural resources without anyone knowing, including our elected officials. Our enemies like China and Russia would be allowed to invest in these NACs where they would have management authority over our nation’s natural resources.
They could have destroyed our nation without ever firing a shot.
Fortunately, as American Stewards led the campaign to successfully defeat NACs, we were joined by Utah State Treasurer Marlo Oaks. He led the State’s opposition, bringing together 23 State Financial Officers and 25 State Attorney’s General to oppose and eventually defeat NACs.
Rep. Mark Green (TN-07) and Rep. Harriet Hageman (WY-AL) filed a bill in Congress that would prevent any future NACs from being created (see the past story we wrote on this here). Additionally, Utah’s U.S. Senators John Curtis and Mike Lee have joined with U.S. Representative Mike Kennedy and introduced the “Natural Asset Company Prohibition Act” that specifically protects the State of Utah.
This Act would prohibit natural asset companies and similar entities from forming agreements “that affect land, water, or natural resources within Utah’s borders.”
Last year, Gov. Spencer Cox signed HB 496, prohibiting natural asset companies from purchasing or leasing Utah public lands, owning or managing conservation leases, or purchasing or leasing ecosystem services.
Curtis, Lee and Kennedy expressed concerns that monetizing natural assets could lead to “corporate control over public lands, restrict farming, grazing, energy development, and recreation. The federal government already owns nearly 70% of the land in Utah and any or all of these lands could have been enrolled into a Natural Asset Company destroying Utah’s economy and potentially all the private property of landowners.
“NACs could worsen land-use restrictions by locking out local communities from responsible use and economic opportunities.”
NACs could enroll public or private land like our national parks or private land with conservation easements without the private landowner’s knowledge or permission losing control and management of their land forever.
Senator Curtis said: “We could have large investors from overseas come in (and) buy up our natural assets…”
H.R. 2063 was filed March 11, 2025.
See the Utah State legislation here.
