Church of England Is Looking to Invest in Medical Cannabis
The Church of England has given the Church Commissioners the green light to start investing in the medical cannabis industry. They are holding medical cannabis to the same standard as pharmaceuticals. They previously had a self-imposed ban to not deal in anything related to medical cannabis.
“We make a distinction between recreational cannabis and medicinal cannabis,” FT quoted Edward Mason, head of responsible investment at Church Commissioners as saying. “We are content with it being used for proper medicinal purposes.”
The Church Commissioners currently oversee the church’s $16 billion investment portfolio. They are looking to invest in companies that do not earn more than 10% of their revenue through sales of recreational marijuana. It’s the same threshold they hold other companies in the gambling and tobacco industry to.