ESG's Impact On Cannabis: Sustainability, Conscious Consumers And Need To 'Legalize And Get Rid Of 280E'

"I think when we educate properly about what this industry can do on a number of fronts, regulators are going to see one that we’ve grown up and that we’re serious about being a transparent and responsible industry so they can trust us to legalize and to get rid of 280E," said Khadijah Tribble, co-founder and chief growth officer of Marijuana Matters (M2), speaking at the recent Benzinga Cannabis Capital Conference in Miami.

This conference proved to be a significant forum for key industry leaders to discuss the future of the cannabis industry, emphasizing its sustainability and the impact of Environmental, Social, and Governance (ESG) elements.

The “Are Conscious Consumers Demanding Sustainability & ESG?” panel was a highlight.

The sentiment was echoed by many, including Joseph Lustberg, CEO and managing partner of Upwise Capital who participated as the panel moderator. He posed a pressing question, "I think everybody in this room would love it if we got rid of 280E. So what do you guys see in the cannabis industry as it evolves over the next five to ten years in terms of sustainability in ESG? Where is this industry evolving?”

“You say that they get rid of it, funds are tight. But over the next five to ten years, do you see more companies implementing more ESG sustainable practices?" Lustberg continued.

With the industry on the precipice of significant growth, companies are undoubtedly feeling the pressure to adopt more sustainable practices. Patrick McCartan, co-founder, and chief growth officer at Regennabis provided a resounding answer: "Absolutely 100%. I don’t think any cannabis company has the option to not put ESG as sustainability. It’s going to be critical to their business. It’s going to open up, as I mentioned already, doors to institutional investors."

For those keen to learn more about this topic, Benzinga Cannabis Capital Conference is set to return to Chicago on September 27 and 28. All information is available on bzcannabis.com

"In the next 5-10 years, no cannabis company has the option to bypass ESG & sustainability. It's not just pivotal for growth, but a gateway to institutional investors." 🔥 From the @Benzinga Conference.
Join us in Chicago, Sept 27-28 - https://t.co/CxznNV6BRx pic.twitter.com/XBp6FPnMMb

— Javier Hasse (@JavierHasse) August 10, 2023