- The company plans to incorporate systemic environmental, social, and governance (“ESG”) factors into business planning and investment decision-making
- The initial Sustainability Accounting Standards Board (“SASB”) report has been completed, and sustainability consulting firm KERMIDA Inc. is currently organizing the data compiled by Green Hygienics
- An ESG program can significantly benefit companies in the industry, from drawing in more investors to winning new business, gaining better talent and improving media coverage
- The industrial hemp market size is expected to reach $15.26 billion by 2027 due to the rising demand for food, supplements, cosmetics, and personal care items
Green Hygienics Holdings (OTCQB: GRYN), a California-based innovative and tech-based enterprise that is focused on the high cultivation standards, processing, and manufacturing of industrial hemp for pharmaceutical-grade bioactive cannabinoids, is enhancing its corporate responsibility and sustainability goals to empower environmental progress. The company plans to incorporate systemic environmental, social, and governance (“ESG”) factors into business planning and investment decision-making.
With the help of KERAMIDA Inc., a premier sustainability consulting firm, Green Hygienics is developing a Sustainability and ESG report using the Sustainability Accounting Standards Board (“SASB”) framework, maintained by the Value Reporting Foundation. Sustainability and ESG are an integral part of the Company’s value system and are committed to driving sustainability by becoming a more effective corporate citizen.
Green Hygienics is the first industrial hemp company to undertake a Sustainability and ESG report. The company is getting ahead of the government’s push to require ESG metrics measurement and reporting. Investors are also pressuring companies to measure, benchmark, and report ESG metrics. These investors pay a premium on companies that develop strong ESG policies. These are the companies that are seeing better valuations and market performance.
According to a Hemp Industry Daily report, companies of all sizes in the industry can realize significant benefits from developing a corporate responsibility program, including (https://cnw.fm/T1z8I):
- Winning new business and increasing customer retention
- Attracting talent and maintaining an exuberant workforce
- Positive media
- Differentiation from competitors
- Saving money on energy and operating costs
ESG goals are achievable by any firm by breaking down the concept into different components:
- Environmental impact – covering everything from a company’s greenhouse gas emissions to resource depletion, nature conservation, waste, and pollution.
- Social impact – including a firm’s working conditions, employee relations, health, and safety. It also includes a firm’s interaction with local and indigenous communities.
- Governance – consisting of the structures within a company, like the board of directors, diversity, pay equity, political lobbying, tax strategy, supply chain policies, and executive pay.
ESG is the measurement of all these different aspects, benchmarking them, and reporting them.
Green Hygienics is positioned to deliver a secure supply chain solution and product efficacy to a range of industry customers and leverage the strategic advantages within its own consumer brand portfolio, securing a strong position in the expanding hemp market. The size of the industrial hemp sector is expected to reach $15.26 billion by 2027, expanding at a CAGR of 15.8% over the forecast period. In North America, the market is expected to expand by a CAGR of 20.4% from 2020 to 2027 due to the rising demand for food, supplements, cosmetics, and personal care items (https://cnw.fm/j1xXX).
Developing an ESG program is likely to further cement Green Hygienics’ position in the market, as well as influence positive investor interest and growth opportunities. The company has already finished its SASB Report process and is now interviewing and collecting data from utilities, while also organizing the related data for the KERMIDA Inc. team. Green Hygienics hopes to create the final ESG report in about a month.
For more information, visit the company’s website at www.GreenHygienics.com.
NOTE TO INVESTORS: The latest news and updates relating to GRYN are available in the company’s newsroom at http://cnw.fm/GRYN
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