Amanda Radke, a fifth-generation rancher and writer from South Dakota, penned an opinion piece for Farmer's Advance where she discussed the New York Stock Exchange's (NYSE) decision to withdraw the proposed Natural Asset Company (NAC) rule. Radke hailed this development as a victory for individuals residing in central, rural America.
In her commentary, Radke stated, "But this announcement highlights how powerful the people in the heart of rural America can be when they lock arms, stand together and speak up". She encouraged her readers by saying, "Keep standing up; your voice and your impact is more powerful than you know". Further expressing her joy at the outcome, Radke added, "The little guy takes a WIN on this one, for now, and although I’m sure they’ll be back with some new ridiculous proposal, today, I’m smiling at the victory."
As reported by Federal Newswire, the U.S. Securities and Exchange Commission (SEC) recently revealed that NYSE has withdrawn its proposed rule to establish NACs on Wall Street. Critics have described NACs as a means for investors and governments to "profit" from natural resources.
E&E News reported that two years ago Intrinsic Exchange Group (IEG), a financial services firm, introduced the idea of providing a platform for investors interested in conserving nature. With support from prominent entities like NYSE and organizations such as the Rockefeller Foundation, this initiative aimed to provide these investors with a dedicated space to allocate their funds.
In her article, Radke disclosed that her initial intention was to express her concerns about the proposed NAC rule until she learned that it had been withdrawn. According to Radke: "the SEC received so many comments from landowners on this issue that it temporarily shut down their entire site."
Others also lauded the decision, including Utah State Treasurer Marlo Oaks. In a recent statement, he said he was encouraged by the withdrawal of the NAC rule. "The proposed creation of Natural Asset Companies is one of the greatest threats to rural communities in the history of our country. Under the proposal, private interests, including foreign-controlled sovereign wealth funds, could use their capital to purchase or manage farmland, national and state parks, and other mineral-rich areas and stop essential economic activities like farming, grazing, and energy extraction."
Radke further commented on the issue in her article: "There’s a lot coming at landowners, farmers, ranchers and our private property rights in this country," she said. She also mentioned that while there will likely be future proposals, she is currently celebrating the removal of the NAC rule.
According to Farmer’s Advance, Radke is a cattle rancher, mother and writer from Mitchell, South Dakota. She hosts a weekly podcast titled "The Heart of Rural America" and is an expert in the beef industry.
