Canopy Growth Issues Environmental, Social, and Governance Report
Canopy Growth Corporation (NASDAQ: CGC) released its inaugural Environmental, Social, and Governance (ESG) Report for 2020, highlighting its commitment to sustainable practices. The report includes a baseline assessment of energy use and greenhouse gas emissions, a $1 million investment in drug war impact initiatives, and the registration of 23,000 patients in its Compassionate Pricing Program. Canopy Growth has taken significant steps towards diversity and inclusion, achieving near gender parity and establishing Employee Resource Groups. The company aims to lead the cannabis industry responsibly and sustainably.
- Invested over $1 million in services for those impacted by the war on drugs.
- Registered 23,000 patients through Spectrum Therapeutics' Compassionate Pricing Program.
- Achieved gender parity in the global workforce.
- Trained 93% of employees on the pharmacovigilance program.
- Recorded zero safety-related product recalls globally.
- None.
The inaugural report details the Company's commitment to building a responsible and sustainable organization defined by purpose
SMITHS FALLS, ON, Jan. 5, 2022 /PRNewswire/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NASDAQ: CGC) today announced the release of its Environmental, Social, and Governance (ESG) Report ("the Report") for calendar year 2020, as well as qualitative details on some key activities that occurred in 2021. The Report recognizes Canopy's current progress and describes its priorities and approach to ESG as part of its long-term path towards responsible and sustainable 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 Canopy Growth. "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."
Key Highlights
- Conducted our first-ever baseline assessment of our Scope 1 and Scope 2 energy use and GHG emissions
- Invested over
$1 million in supporting record-clearing, wrap-around and ancillary services for people impacted by the war on drugs - Registered 23,000 patients for our Compassionate Pricing Program through Spectrum Therapeutics
- Hired our first Vice President of Diversity Equity & Inclusion in 2021 and established Employee Resource Groups representing Indigenous, Black and LGBTQ2S+ employees and employees living with disabilities
- Achieved near gender parity of women in our global workforce
- Trained
93% of Canopy Growth employees on our pharmacovigilance program - Recorded 0 safety-related product recalls globally
Disclosures within the Report are made using relevant reporting standards and frameworks including the Sustainability Accounting Standards Board (SASB) Biotechnology & Pharmaceuticals, Agricultural Products, and Non-Alcoholic Beverages Sustainability Accounting Standards and the UN Sustainable Development Goals.
As the first cannabis company in North America to be publicly traded, federally regulated, and licensed in Canada as a cannabis producer, Canopy Growth embraces its opportunity and responsibility to be a part of the cannabis industry's efforts to move forward with integrity and intention.
To read the report in full, please view here.
About Canopy Growth
Canopy Growth (TSX:WEED, NASDAQ:CGC) is a world-leading diversified cannabis and cannabinoid-based consumer product company, driven by a passion to improve lives, end prohibition, and strengthen communities by unleashing the full potential of cannabis. Leveraging consumer insights and innovation, we offer product varieties in high-quality dried flower, oil, softgel capsule, infused beverage, edible, and topical formats, as well as vaporizer devices by Canopy Growth and industry-leader Storz & Bickel. Our global medical brand, Spectrum Therapeutics, sells a range of full-spectrum products using its colour-coded classification system and is a market leader in both Canada and Germany. Through our award-winning Tweed and Tokyo Smoke banners, we reach our adult-use consumers and have built a loyal following by focusing on top quality products and meaningful customer relationships. Canopy Growth has entered into the health and wellness consumer space in key markets including Canada, the United States, and Europe through BioSteel sports nutrition, and This Works skin and sleep solutions; and has introduced additional hemp derived CBD products to the United States through our First & Free and Martha Stewart CBD brands. Canopy Growth has an established partnership with Fortune 500 alcohol leader Constellation Brands. For more information visit www.canopygrowth.com.
Notice Regarding Forward-Looking Information
This press release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable U.S. and Canadian securities laws (collectively, "forward-looking statements"), which involve certain known and unknown risks and uncertainties. Forward-looking statements predict or describe our future operations, business plans, business and investment strategies and the performance of our investments. These forward-looking statements are generally identified by their use of such terms and phrases as "intend," "goal," "strategy," "estimate," "expect," "project," "projections," "forecasts," "plans," "seeks," "anticipates," "potential," "proposed," "will," "should," "could," "would," "may," "likely," "designed to," "foreseeable future," "believe," "scheduled" and other similar expressions. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks, financial results, results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. A discussion of some of the material factors applicable to Canopy Growth Corporation ("Canopy") can be found under the section entitled "Risk Factors" in Canopy's Annual Report on Form 10-K for the year ended March 31, 2021, filed with the Securities and Exchange Commission and with applicable Canadian securities regulators, as such factors may be further updated from time to time in its periodic filings with the Securities and Exchange Commission and with applicable Canadian securities regulators, which can be accessed at www.sec.gov/edgar and www.sedar.com, respectively. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in the filings. Any forward-looking statement included in this press release is made as of the date of this press release and, except as required by law, Canopy disclaims any obligation to update or revise any forward-looking statement. Readers are cautioned not to put undue reliance on any forward-looking statement. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
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SOURCE Canopy Growth Corporation
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