Hemp is in a unique position to capitalize on humanity's search for solutions to the climate crisis, with hemp entrepreneurs and innovators poised for tremendous opportunities in providing those solutions.
Corporate America has finally accepted what scientists have long been saying about climate change: Not only is it real, it threatens the livelihoods of billions of people who will have to adapt to a hotter Earth, fleeing scorched coastal areas for higher ground and creating the need for new housing and sources of food and fuel.
A couple of months ago, one of the most influential business groups in the United States, the Business Roundtable, made a policy change that didn’t make a lot of front pages amid a global pandemic and terrifying natural disasters.
The group endorsed putting a price on carbon, marking a seismic shift in businesses’ efforts to deal with global warming. Companies spanning every sector of the economy are shaking off decades of climate inaction and hostility and using market incentives such as a carbon tax or tradable emissions credits to fight climate change.
A move to tradable emissions credits is a win for hemp, a plant famed for taking carbon dioxide out of the atmosphere. Selling carbon credits would also offer a potential new revenue stream to hemp farmers facing falling wholesale prices for biomass and flower.
While the fledgling hemp industry has been struggling with growing pains of late, expect the massive shift towards climate solutions to motivate lawmakers, businesses, and others to accelerate the establishment of the legislation, infrastructure, reliable supply chains, and standardization the industry so desperately needs.
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