Cage-Free Report 2023: Assessing The Social Responsibility Of Cannabis Giants

Cage-Free Repair, the non-profit arm of Cage-Free Cannabis, released its 2023 Cannabis Social Responsibility Report.

Highlighting current social initiatives in the cannabis industry, the report covers comprehensive research on 20 leading North American cannabis firms, including names like Tilray Brands Inc TLRY and Cookies.

The researchers assessed these companies on their publicly declared commitments to social responsibility.

See Also: Is The Cannabis Industry Ignoring Minority Communities?

About The Report: A Holistic Approach To Restorative Action & Sustainable Progress

Using a unique scoring system, they quantified the socially equitable practices of each firm, keeping in mind the long-standing history of cannabis prohibition.

However, the report indicated that findings might be preliminary due to verification limitations and the potential for undisclosed practices, per a press release.

“Social responsibility won't just happen on its own. It requires intentional actions to ensure these values are upheld," said Project Researcher Justice Wahid Cotton. "It takes even more effort to ensure follow-through and to constantly assess if these actions produce the desired outcomes."

Central to the report's evaluations is a scoring mechanism based on three justice pillars: distributive, retributive and environmental. Per the set criteria, any initiative or business practice deemed socially equitable should support at least one of these justice categories.

Project Advisor and professor at Texas Christian University Dr. Frederick W. Gooding Jr. shed light on the importance of this research. “I definitely feel concerned about the distance between appearance and reality when it comes to substantive diversity within the profit-seeking sector of cannabis.”

The 2023 report concluded by emphasizing the historical context of the War on Drugs and its implications for the current cannabis industry. It detailed Cage-Free Repair's mission to work with cannabis businesses, patients, and consumers to promote three primary types of justice: reparative, economic, and environmental.

Shaping the Cannabis Future: Insights, Innovations, and Inclusivity at Benzinga's Capital Conference

If you'd like to learn more about this important topic and many others, join us at the Benzinga Cannabis Capital Conference, the world's largest gathering of cannabis decision-makers, founders, investors, and advocates on Sept. 27-28 at the Magnificent Mile Marriot Hotel in Chicago.

• Gain insights from panels like "Social Equity Stories: What Worked And What Didn't" with Leah Bailey (Blounts&Moore), Tahir Johnson (Simply Pure), and Annu Khot (Sociale Dispensary). Embrace the chance to learn, engage, and be part of shaping a more inclusive cannabis future.

Do you run a cannabis company but don't have a marketing budget to pay for an event of this magnitude? Don’t worry! At Benzinga, we understand. Find out more about our social equity opportunities here. All information is available on bzcannabis.com

Read Next: MSO Financial Health: Debt Restructuring Vs. Equity Raises – Analyst Digs Into Spreadsheets

Image by David Gabrić On Unsplash