• New legislation targets Natural Asset Companies.
• Bill aims to protect local land use from corporate control.
• Utah officials oppose monetization of natural resources.

Wednesday, March 19, 2025 — Last week, Utah Representative Mike Kennedy and Senators John Curtis and Mike Lee introduced the Natural Asset Company Prohibition Act, a bill designed to shield Utah’s public lands and resources from corporate control by Wall Street entities and foreign investors.

Concerns Over Corporate Control.

Natural Asset Companies (NACs) are corporate structures that assign financial value to ecosystem services such as carbon storage, water purification, and biodiversity. Critics argue that NACs could restrict access to land traditionally used for farming, grazing, energy development, and recreation, effectively “locking away farmland and natural resources.”

Representative Kennedy emphasized the threat to rural economies, stating, “Natural Asset Companies threaten Utah’s rural economy by allowing private interests to lock away farmland and natural resources. This model would undermine property rights, allowing conservation easements to be imposed without landowner consent.”

Protecting Utah’s Way of Life

Senator John Curtis pointed to the broader impact on Utah communities, arguing, “Wall Street shouldn’t be allowed to dictate what happens on Utah lands just to satisfy ESG mandates. Public lands are central to Utah’s way of life—supporting families, ranchers, recreation, energy production, and conservation.”

Senator Mike Lee, Chairman of the Energy and Natural Resources Committee, echoed these concerns, stating, “Access to public lands is essential to Utah’s way of life, supporting thriving energy, agriculture, and recreation industries. Natural Asset Companies pose a direct threat to this access by enabling private and foreign investors to seize control of the very land that our communities depend on.”

Legislative Details.

The proposed Natural Asset Company Prohibition Act explicitly forbids NACs or similar entities from entering agreements that would affect Utah’s land, water, or other natural resources. The bill defines NACs as corporations holding rights to manage ecological functions, including conservation and sustainability efforts.

Background and Bill Tracking.

In October 2023, the Securities and Exchange Commission (SEC) had proposed rules allowing NACs to acquire ecological performance rights and lease natural resource rights from tribal and private lands. After strong opposition from Utah officials, including Senator Curtis and State Treasurer Marlo Oaks, the SEC withdrew the proposal in January 2024.

The new legislation represents continued vigilance by Utah lawmakers aiming to ensure local communities maintain control and access to their natural resources and lands.  The full text of the bill and tracking information is available at Congress.gov.

Image:

Shot of Arches National Park Utah. licensed through Envato.

Related posts:

Wyoming’s Water Projects: Where the money is flowing Southern NM utility sued over arsenic in water Severe drought expands in Colorado River Basin