Sustainable cultivation practices, business opportunities for underrepresented individuals, and operating under a regulatory framework focused on consumer safety and mutual economic benefit are just a few attractive aspects of the space.
Across the country, various states have utilized the legalization and expansion of the in-state cannabis industry to support reform and legislation affecting minority groups, facilitating positive social and economic change.
While prohibition exists at the federal level and cannabis remains a Schedule 1 controlled substance, small businesses will be at a strong disadvantage because they do not have access to affordable banking arrangements.
Congress could establish clear protections for banks to provide services to cannabis businesses as well as remove cannabis from Schedule 1 of the Controlled Substances Act.
Non-state actors have also shown commitment to ensuring that the budding cannabis industry is equitable with non-discriminatory barriers to entry and paths to success.
It is focused on the “triple bottom line” with a commitment to profit, planet, and people.
Businesses themselves are also contributing to social equity.