Pay attention. Your survival could depend on it. Cannabis consumers, I’m talking to you. How’s the environment looking? Pretty bleak. Is the economy rock steady? Far from it. Let’s not even talk about the quality of global leadership right now. These elements are the foundation of a seemingly abstract term — ESG. It stands for Environmental, Social, and Governance, and it affects the fate of mankind.
If corporations don’t start taking a hard look at how they’re addressing ESG on a micro scale, it spells disaster on a macro scale.
Consumers matter here. Money, the money in your pocket right now, tells a story wherever it goes. It describes what you care about and cries out your hope for the future.
When people invest in companies with ESG frameworks, they’re investing in responsibility — in green grass and blue skies. ESG-focused companies are the foundational elements of a tomorrow we can all thrive in.
As purchasers, you have a voice. As business owners, you have a choice. Companies can decide right now if they want to be part of tomorrow’s economy.
Investing in ESG frameworks tells customers you want to exist in 20 years. It tells investors you’re looking ahead at the regulations sitting in dusty stacks on bureaucrats’ desks across the globe.
These requirements, to do one’s best for the environment, for society, and as leaders, are more than a moral imperative. They’re quickly becoming law.
They’re cementing themselves as the only way to do business. And they’re often the best way to attract customers and investors to one’s business model.
Geoff Trotter, a co-founder of ESG and sustainability advisory firm Regennabis, believes companies can create an ESG-centric business model without losing money.
“You can create massive profitability in this space and do good. They’re not mutually exclusive,” Trotter noted during a recent interview with Cannabis & Tech Today.
Any company looking to live out the capitalist dream of global expansion should also note the demand for ESG is much louder in the international marketplace. America is sort of whispering about it. Other nations are shouting it.
Trotter touched on this point, “If you think you can exist in a vacuum in the United States, you have another big challenge coming if you are aspiring then to operate, for example, in Germany or Europe. Generally, ESG performance is more than expected, it’s now a legal requirement.”
So, whether you’re a business owner or a consumer, spend your dollars thoughtfully. If you’re a buyer, buy with the knowledge that your choices will affect your kids’ lives.
If you’re a business, consider the planet, its people, and your purpose in daily operations. Businesses and the buyers that support them have one thing in common — humanity.
We’re part of the same human race watching the Doomsday Clock ticking down. Let’s set back that clock and make an effort like our lives depend on it.
This article first appeared in Volume 4 Issue 4 of Cannabis & Tech Today. Read the full issue here.
