Barrasso, Lummis Applaud NYSE for Withdrawing Proposal to List Natural Asset Companies on the Exchange

U.S. Senators John Barrasso and Cynthia Lummis released statements Tuesday 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 Stock Exchange. The joint statement states that 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.

Senator Barrasso said the New York Stock Exchange’s overreaching proposal would have surrendered America’s public lands to the highest bidder, and 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. Senator Lummis said 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.

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.