The Church of England announced that it will lift a longstanding prohibition on medical cannabis in order to explore investing in the fast growing and potentially stupendously profitable industry.
The church is reported to have eight point three billion in assets in a portfolio including companies that meet ethical and responsible criteria, and real estate. Like other organizations with values-based investment funds, the church has avoided stakes in “sin stocks,” including alcohol and tobacco firms, however, companies that produce and market pharmaceutical drugs have always been a viable option.
Now, the Church commissioners will consider investing in firms that deal in medical cannabis. The changed policy still bars the church from investing in companies that also have an adult-use arm. Edward Mason, the Church’s Chief of Responsible Investment, told the Financial Times “We are content with it being used for proper medicinal purposes,” and that the Church would announce a “formal stance” on medical cannabis patients sometime “soon,”
By some estimates, the global cannabis market is already worth more than 10 billion dollars, and as attitudes and laws change across the globe, it will continue to grow. The church has yet to publicly identify any specific investment targets.
To get more information behind this story, check out the article on leafly.com
Church of England Sees Green, Explores Investing in Medical Cannabis - https://www.leafly.com/news/industry/church-of-england-sees-green-explores-investing-in-cannabis
Higher power: Church of England backs medicinal cannabis - https://www.ft.com/content/297f3234-88fa-11e9-97ea-05ac2431f453?shareType=nongift
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