The New York Stock Exchange (NYSE) on Wednesday withdrew its proposal to establish Natural Asset Companies (NACs), which were designed to pool investors’ money from around the world to buy controlling rights to public and private land throughout the United States.
The NACs would, according to filing documents, manage the lands solely for the purpose of “sustainability.” Critics of the plan charged that wealthy investors and foreign entities would be able to use these vehicles to make decisions to allow or block the public from accessing the publicly owned land that is designated for uses such as hunting, fishing, drilling, mining, hiking, and logging. …
