Standardization, regulation, compliance, and licensing — the Four Horsemen of the Cannabis Apocalypse — are topics that are in no way way too considerably away all through cannabis sector conversations.
With the ongoing absence of federal legalization in the U.S., no make a difference in which 1 sits on the cannabis benefit chain, the reliance on a non-uniform, state-by-condition method to each of these company-vital difficulties carries on to be a stress.
As a lot more states and jurisdictions legalize hashish use for each professional medical and leisure use, the need for a uniform solution to regulation is now imperative.
And for individuals concerned in hashish extraction and the subsequent manufacturing of concentrates, probably this want has never ever been bigger.
Spoiler notify — this write-up will not be offering a panacea for these collective ills. Sorry!
That explained, with the escalating concentration on sustainable tactics from seed to sale, a resolution that delivers standardization for environmental, social, and governance (ESG) methods is lastly in just access.
At Regennabis we have created cannabis-precise ESG expectations primarily based on the Sustainable Accounting Specifications Board (SASB) pan-sector specifications.
These apply to each individual of the license verticals in the cannabis marketplace. In whole, Regennabis has discovered 16 of the 26 SASB Disclosure Matters as applying to the cannabis area.
With the Global Finance Reporting Criteria and the Intercontinental Sustainability Specifications Board both equally agreeing to use SASB’s benchmarks, the Securities and Exchange Commission has set about indicating which of these requirements will be relevant across all industries in the U.S.
By adopting and adapting the SASB standards, Regennabis has subsequently foreseeable future-proofed the cannabis market to stay away from prospective hiccups in its ESG Reporting applications by ensuring a far more aligned and pertinent Materiality Evaluation is made use of for its respective reporting protocol.
For producers of concentrates, the graphic under suggests which of the 16 Disclosure Subjects implement to them as they established about complying with the mandated and/or sector-pushed requires remaining put on them by regulators. (See chart higher than.)
Making sure compliance in alignment with an ESG framework will allow a focus manufacturer to show to stakeholders, equally up and down its offer chain, that it is centered on mitigating challenges in its operational techniques.
It will demonstrate an adherence to excellent manufacturing procedures across a assortment of geographies — and that will be an ever-increasing competitive edge in an previously crowded marketplace.
