45 marijuana firms join forces to set industrywide environmental, ethical goals

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An alliance of 45 large marijuana businesses wants the public to know they’re good corporate citizens.

The Global Cannabis Partnership, which includes Canada’s Canopy Growth Corp., issued guidelines aimed at minimizing greenhouse gas emissions and promoting ethical conduct and responsible cannabis use.

The emerging marijuana industry is “in a unique position to set a new bar for socially responsible practices,” the group’s executive director, Kim Wilson, said in a statement.

The organization’s 16 founding members are mostly Canadian-based cannabis companies, such as Canopy, as well as Cansortium of Miami and Civilized of Los Angeles. The Partnership’s website lists 29 other companies that have signed on.

The guidelines appear aimed at assuring consumers that those companies are operating with public interests in mind, not just the bottom line.

The initiative could have other payoffs, including potentially luring a broader range of investors for MJ companies.

The goal of the five-page “social responsibility framework” is for the industry to be recognized for practices in good corporate citizenship. It outlines guiding principles that include transparency and responsibility, such as prohibiting illicit sales to minors.

The group said its members have agreed to adhere to the guidelines that will set “a standard for the new and rapidly growing cannabis industry worldwide.”

While light on specifics, the document said members will develop policies to manage greenhouse gas emissions, package materials that reduce the consumption of raw materials, and follow farming practices that reduce environmental effects.

Other guidelines seek to promote responsible use, education and scientific research.

– Associated Press and Marijuana Business Daily