Canopy Growth Corp. dissolved the Social Impact and Advocacy team, which led the company’s environmental, social and governance (ESG) strategy, during its latest round of cost-cutting layoffs.
However, the Canadian cannabis producer said the department’s ESG work will be continued by Canopy’s Diversity, Equity, and Inclusion (DEI), investor relations and communications teams.
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Canopy’s Social Impact and Advocacy department earned the company headlines in January when it released Canopy’s first ESG report, becoming one of a handful of marijuana companies to have done so.
Canopy said another report is forthcoming.
ESG programs establish – and assess progress toward – corporate social, environmental and governance goals.
They have become increasingly important to some cannabis companies in light of interest from investors, governments and the public.
Mika Unterman, CEO of Canadian cannabis industry ESG consultancy Apical Ethical Cannabis Collective, said the ESG team at unprofitable Canopy “was doing a lot of
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