Experts in the field of cannabis production have formed a coalition to foster improvements to the industry.
North American cannabis cultivation and manufacturing experts today announced the formation of the Sustainable Cannabis Coalition (SCC), which focuses on promoting sustainability practices throughout the cannabis industry.
According to Grand View Research, the global legal cannabis market will reach $73.6 billion by 2027, and the SCC says that producers must meet “stringent, sustainable, and ethical business practices to compete in the global market.”
As a trusted source, the SCC will provide foundational best practices to promote the economic benefits of sustainability as the industry grows.
“With investors across the industry incorporating Environmental, Social and Governance (“ESG”) factors into the investment process, the creation of a coalition to address sustainability in this space is critical,” says Gro IQ and SCC Co-Founder Peter Dougherty. “The SCC is uniquely poised to impact the industry as it continues to rapidly evolve. As leaders in this space, it is our responsibility to provide data driven sustainability guidance to the industry while protecting both consumers and the environment.”
Among the SCC founders are CohnReznick, Anderson Porter Design, Valiant, Wholly H2O, Cloud Farming, Conviron, Argus Controls, Gro iQ, Trulieve, Byers Scientific, 365 Cannabis, GMP Collective, Omega Equipment and Supply, Simplifya, PathogenDx, GrowGeneration, Outlaw Technology, and BZAM Cannabis.
CohnReznick Managing Principal Ira Weinstein says that ESG is a key business practice for CohnReznick and its customers.
Weinstein says that the ability to incorporate data-driven practices will help confirm for customers the long term economic impact on their business and position those companies as socially and environmentally responsible market leaders.
The SCC says it plans to release bi-weekly blog posts and podcast interviews to address each vertical segment of the cannabis industry’s production supply chain along with best sustainability practices.