What You Can’t See, You Can’t Exclude — 8 September 2026

NN Group told Universal Asset Owners, on the record, why a coal revenue threshold can miss a large coal producer and what its policy now tests: annual production of 10 million tons or more, 5 GW of coal-fired capacity, or any new mine or plant, beside the revenue tests. The SEC asked a federal court to compel ISS to produce a client-identified record of how each client's shares were voted — an application, not a finding. Argentina's Decree 868/2026 turned a resource-title dispute into a sworn declaration every hydrocarbon permit and RIGI applicant must sign. Three rules, three institutions, one question: is the rule real, or is it a document? Full brief: https://www.universalassetowners.com/intelligence/