Connect with us

International

Social responsibility in cannabis to captivate investors

Published

em

A group of 45 companies operating in the cannabis sector developed a set of measures that seek to standardize the industry. This is one of the first actions to attract more conservative investors, through social and corporate responsibility and raising standards.

Companies listed on the stock exchange have the majority of their shares held by individual investors. However, the industry is realizing that to attract more cautious institutional investors, such as pension funds, a structuring that takes into account environmental, social and administrative factors is necessary.

This social responsibility effort, which will examine issues ranging from greenhouse gas emissions to product safety and ethical conduct, was announced by the Global Cannabis Partnership last week.

Proactive partnership for industry standardization

“The hope is that these measures are to cannabis what Fair Trade is to coffee,” said Lara Wood, chair of the Global Cannabis Partnership advisory board, at the World Cannabis Congress in New Brunswick.

Members belong to the largest companies in the industry, such as Canopy Growth Corp. and Aphria Inc., but also to various government agencies and law firms representing various countries. The certification process is being developed with the help of the EY consultant. Final certifications will be awarded by an independent evaluation panel.

The goal was to be proactive in creating standards for the industry, and solving problems before they arise, said Rick Petersen, who authored the standards and who previously developed the World Lottery Association's Framework for Responsible Gaming.

Increase attractiveness for more conservative investors

The hope is that the sector's attractiveness to investors will increase through higher standards for the functioning of the industry. These are conditions, mainly, to attract global institutional investors, whose investment decision criteria are also based on social responsibility policies, according to EY.

Another benefit comes from increased trust by regulators, said Terry Lake, vice president of corporate and social responsibility at Hexo Corp., which is a member of the Global Cannabis Partnership.

“We are in a highly regulated environment and we would like the regulator to take a more liberal approach to the sector, and the only way to do that is to demonstrate high standards,” he said.

 

Click here to comment
Subscribe
Notify of
0 Comments
Inline feedback
View all comments
Advertising


Watch the Documentary "Patients"

Documentary Patients Laura Ramos help us grow

Mais recentes

Events5 hours ago

Spannabis will once again host ICBC Barcelona from the 14th to the 17th of March

The International Cannabis Business Conference (ICBC) will open another edition of Spannabis, on March 14th, with the aim of...

Press Releases1 hours ago

Porto, Matosinhos, Valongo and Paredes – Eight arrested for drug trafficking and more than 8000 doses of drugs seized

The Porto Territorial Command, through the Criminal Investigation Center (NIC) of Santo Tirso, between the 20th and...

National3 days ago

Portugal: GNR seizes 3 tons of hashish in the Guadiana River

The Coastal and Border Control Unit (UCCF) of the National Republican Guard (GNR) seized last Friday, the 23rd...

Events3 days ago

Spannabis 2024: Barcelona hosts the 20th edition of the largest cannabis exhibition in the world, from March 15th to 17th

Barcelona is preparing to host the 20th edition of Spannabis, the largest cannabis fair in the world, on the 15th,...

International6 days ago

Germany: Bundestag voted today in favor of legalizing cannabis, but Federal Council approval is still needed

The Bundestag debated and voted this afternoon on the project to legalize the personal use of cannabis in the country, with 407...

International7 days ago

Germany: Legalization will be discussed this Friday, the 23rd

The German Bundestag will finally deliberate on the legalization of cannabis for personal consumption in the country. The debate, which has been...

Hemp1 weeks ago

Hemp cultivation in the Azores will have an information session on Terceira Island

The Confraria Internacional Cannabis Portugal and CannAzores join forces to promote an Information Session on the Cultivation of...

Health2 weeks ago

CBD and CBC show promising results in head and neck squamous cell carcinoma

A study published in the journal Cancers found that cannabis extracts rich in CBD (cannabidiol) can kill breast cancer cells...

International2 weeks ago

Ukraine: Zelensky signs bill to legalize medical cannabis

Ukrainian President Volodymyr Zelensky signed a bill legalizing medical cannabis in Ukraine, with the expectation that...

National3 weeks ago

Portugal: Associação Mães pela Canábis publishes e-book on medicinal cannabis

The Association of Mothers for Cannabis (AMC) announced the launch of an e-book entitled “Frontiers of Cannabis: SCIENCE, THERAPEUTICS &...