Utah County Commissioners oppose SEC's natural asset company investment proposal

In a recent meeting held on January 17, 2024, the Utah County Commission addressed a significant resolution opposing the creation of Natural Asset Companies (NACs), a new investment vehicle proposed by the Securities and Exchange Commission (SEC) in partnership with the New York Stock Exchange. This resolution reflects growing concerns among local leaders regarding the implications of NACs on public land management and resource control.

The proposed NACs aim to allow investors to profit from the protection of natural resources, a concept that has sparked controversy. Critics argue that this initiative, part of a broader "30 by 30" agenda to protect a significant portion of the world's lands and oceans, could undermine local control over natural resources and threaten jobs and energy supplies. The resolution emphasizes that the county supports responsible energy development and opposes any measures that could lead to foreign or private entities exerting control over public lands.

During the meeting, county officials expressed their commitment to ensuring that public lands are managed for multiple uses, including recreation, energy production, and conservation. They voiced concerns that the SEC's actions could represent an overreach into areas traditionally governed by local and state authorities, potentially infringing on the rights of citizens and local economies.

The resolution also highlighted the importance of maintaining a balanced approach to resource management, advocating for regulations that support economic development while protecting the environment. The county's stance is that public lands should remain under the stewardship of public entities, rather than being influenced by external financial interests.

In closing, the commission thanked Utah State Treasurer Marlo Oakes for his leadership in rallying support against the proposed SEC rule, which was introduced during a period when public attention was low. The resolution aims to ensure that the voices of Utah County residents are heard in the ongoing discussions about the future of natural resource management and investment in the state.

As the SEC considers feedback on this proposal, the outcome could have lasting implications for how natural resources are managed and who ultimately controls them, making this a pivotal moment for local governance and environmental stewardship in Utah.