The Church of England might turn out to be the cannabis trade’s latest large cash investor.
On Saturday, Monetary Occasions reported that church commissioners stated they’d loosen a self-imposed ban on investing in licensed cannabis corporations. The restriction stays in place for investments in leisure cannabis, however medical cannabis shall be honest sport.
“We make a distinction between leisure cannabis and medicinal cannabis,” Edward Mason, the pinnacle of accountable investments on the Church of England, advised Monetary Occasions. “We’re content material with it getting used for correct medicinal functions.”
The Church of England at present wields a $16 billion (£12.6 billion) funding portfolio, which turned one of many “world’s best-performing endowment funds” in 2016, wrote Monetary Occasions.
Though non secular establishments have historically opposed cannabis use for leisure functions, acceptance of medical use is rising. Final yr, the UK legalized medical cannabis for sure debilitating medical circumstances.
“When [cannabis is] used inside an acceptable medical context, in sure prescribed circumstances, it may be very helpful, and I believe the purified medicinal cannabis ought to be seen on this gentle,” Dr. Mark Pickering, the chief government of the Christian Medical Fellowship, advised Premier Christian Radio.
In 2018, Grand View Analysis, Inc., a world monetary analytics agency, estimated the worldwide marketplace for medical cannabis would attain $55.eight billion by 2025.
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