The National Association of Cannabis Businesses (NACB) says it will begin drafting recommendations for social equity programs as a way to address social injustices within the cannabis community.
These recommendations will provide policymakers with best practices to incorporate into state/federal equity programs. Recommendations will address criteria for social equity licensee candidates, support and services for qualified candidates, funding to disproportionately-impacted communities and social justice reform.
Social equity programs ensure communities and individuals can benefit economically from cannabis legalization after having experienced prosecution, incarceration and other consequences from the decades-long war on drugs.
“The objective is to assist all regulated cannabis states to move forward with programs to improve social and economic welfare at the local level,” NACB President and CEO Gina Kranwinkel. “States can give licensing preferences and low-interest loans to create business ownership opportunities and new jobs in heavily impacted and disadvantaged communities. Furthermore, all candidates that meet social equity licensee qualifications will receive a complimentary one-year membership to the NACB and access to all its work on responsible business practices in the cannabis industry.”
The National Association of Cannabis Businesses is dedicated to developing and publishing consensus standards of responsible business practices in the industry. When the social equity recommendations are completed, they will take their place alongside adopted NACB standards for advertising, packaging and labeling, cybersecurity and others governing the cannabis industry.