Canopy Growth provides update on its environmental and social practices

The leading cannabis company continues its community support initiatives

Canopy Growth has recently shared its inaugural report expressing and detailing the company’s commitment and ongoing efforts to build a sustainable and responsible organization defined by purpose. This Environmental, Social, and Governance Report for the calendar year 2020 can now be read by all followers, as well as qualitative details on some of the important activities that occurred during the past year.

The report provides information about Canopy’s current progress and details its ESG properties and approach as part of its drive towards sustainable and responsible growth. “As the cannabis industry becomes more established, we recognize the role we must play to ensure that progress is achieved responsibly and sustainably,” said David Klein, CEO of Canopy Growth.

He adds, “We are committed to realizing our vision of unleashing the power of cannabis to improve lives and our inaugural ESG report is the next step in our leadership journey, creating accountability for ourselves, and the cannabis industry.”

Among the key points highlighted in the report is the company’s investment of more than $1 million to support complementary, comprehensive, and record-clearing services for people who have been victims of the war on drugs in one way or another. The company also conducted its first Scope 1 and Scope 2 baseline assessment of its energy use and GHG emissions. Through Spectrum Therapeutics, it was able to enroll more than 23,000 patients in its compassionate pricing program.

Also noteworthy was the hiring of the first VP of equity, diversity, and inclusion in 2021, while establishing resource groups for employees representing blacks, indigenous communities, LGBTQ2S+, and employees with disabilities. The company continues in a constant effort to achieve near gender parity of the best in its global workforce. And finally, no safety-related product recalls were recorded worldwide.

Canopy is considered the first publicly traded cannabis company in North America, licensed in Canada as a cannabis producer and regulated by the federal government. Because of this great responsibility and prestige, the company embraces its opportunity to be part of the cannabis industry’s efforts to move forward with integrity and intention.