The Global Cannabis Partnership announced that is has created an ESG framework for the cannabis industry.
Currently, pot stocks are mostly held by retail investors but the industry is realising it needs to have an Environmental, Social and Governance framework in place to attract wary institutional investors like pension funds. A group called the Global Cannabis Partnership announced on Tuesday that it’s created an ESG framework that will look at issues ranging from greenhouse gas emissions to product safety to ethical conduct.
Members range from pot firms like Canopy Growth Corp and Aphria Inc to government agencies and law firms, and represent countries ranging from Canada to Australia, the UK and Israel. The certification process is being developed with help from global accounting firm EY. Certification will be granted by an independent evaluation panel.