NZ’s Greenfern Industries say it is the first New Zealand medicinal cannabis company to be awarded B Corp certification.
So, what is a “B Corp“?
It’s a designation indicating a company is meeting high standards of verified performance, accountability and transparency in various aspects; balancing profit with purpose. By achieving a B Impact Assessment score of 80 or above, this signifies a company has demonstrated high social and environmental performance.
According to Greenfern, it achieved an overall finalised score of 86.8.
“Greenfern’s values are very much aligned with B Corp philosophies – our non-negotiable pillars of operating sustainably with people and the environment are in the forefront of our mind,” said Greenfern managing director Dan Casey.
The company states it is just one of 83 other Kiwi B Corp businesses.
It’s another green feather in Greenfern’s cap – last year it became New Zealand’s first Toitū carbonzero certified medicinal cannabis and industrial hemp company. While medical cannabis can have a significant carbon footprint, particularly indoor cultivation, something that has helped the company’s enviro street-cred a great deal in this regard is ownership of a hydroelectric power station on the Waingongoro River in Taranaki; situated alongside Greenfern’s facilities.
Historic Normanby Hydropower Station was one of the first publicly available electricity supplies in New Zealand. Rebuilt in 2008, Greenfern’s crowdfunding campaign in 2020 enabled the firm to buy the power station outright. The station generates surplus to Greenfern’s electricity needs, with the excess sold back to the national grid.
While its research, indoor growing operation and processing facility may be right next to a river offering plenty of water, the aeroponics system Greenfern Industries use reduces its water consumption too.
“We’re incredibly proud of both certifications as they illustrate our constant drive to be New Zealand’s most environmentally friendly medicinal cannabis company and to set an example in sustainable and carbon-neutral production for the industry in New Zealand,” said Mr. Casey.
In other recent news from the company, earlier this month we reported Greenfern Industries is pursuing registering an over-the-counter cannabidiol product in Australia, and is drawing up clinical trial protocols for a low dose CBD product.