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See you next month!
Patrick W.H. Garrard
www.pwhgarrard.com
Societal Impact
Cannabis has large potential to change the way we innovate and operate as we shift our focus to its wellness impact and away from its intoxicating properties. A meaningful reduction in alcohol and opioid consumption in mature legal markets is accompanied by a reduction in domestic abuse, workplace absenteeism and fatalities from drinking and driving. The correlations here have driven us to explore the relationship between cannabis consumption and marital longevity.
Environment
With over 50,000 uses, hemp has the unique ability to impact food, personal care, plastics, paper, textiles, construction materials and the environment. One example: Cotton is grown on 2.4% of agricultural land, yet uses 24% of global pesticides. An acre of hemp provides more paper than 4.1 acres of cotton; the word ‘canvas’ is itself a derivative of the word ‘cannabis’. Hemp fiber is stronger and softer than cotton, lasts twice as long, and will not mildew.
Full federal legalization of the cannabis plant is inevitable and driven by voter support for it having quintupled to over 60% since 1970. The legal cannabis industry is the fastest growing industry in America – one with the unique ability to attract the interest of financial and impact investors alike. Diversified capital sources will undoubtedly have diversified impact, and we remain optimistic about a world poised to benefit from both. A well-diversified cannabis portfolio has impact well beyond its investment return, a wonderful outcome of business leading social change in this sphere.
The impact of discovery is perhaps only eclipsed by the reduction of inequity