Trulieve released an Environmental, Social and Governance Report on Wednesday, becoming the first cannabis company to release such a report.
The report contains standard disclosures from the Global Reporting Initiative Sustainability Reporting Standards, The Sustainability Accounting Standards Board as well as the United Nations Sustainable Development Goals.
ESG is a type of reporting that covers non-financial aspects of a business — such as diversity, equity and inclusion efforts — that have become increasingly important to investors.
Trulieve’s report highlights its achievements to date, which include its its use of an ESG consultant during the construction of its cultivation facilities. It also outlines goals such as reducing the company’s carbon footprint and broadening its Diversity Equity and Inclusion activities.
“Since Trulieve was founded, our patients, customers and employees have been at the heart of everything we do. We believe in the power of cannabis for all and take great pride in providing access to innovative products for our customers, building engagement in the communities where we work and live, advocating for our industry, and ensuring a positive social approach to social justice and equality,” Trulieve CEO CEO Kim Rivers said.
“While this is our first report, these principles and initiatives have been core to our business since its beginning. Our high standards of ethics and governance are integrated into the way we do business every day. We recognize that what we do from an environmental, social and governance perspective is important to our stakeholders, and we are proud of our commitment to transparency and responsibility as the first U.S. MSO to issue an ESG report.”
Rivers added, “Cannabis is a generational opportunity. We know there’s still work to do as we advance our sustainability journey, and we are committed to communicating our progress, holding ourselves accountable and being good corporate stewards to ensure the cannabis industry is safe, inclusive, equitable and sustainable for generations to come.”
Trulieve was one of the first five companies in 2015 permitted to cultivate cannabis as a medical marijuana treatment center. The businesses became above-board in Florida after Amendment 2 became effective in Jan. 2017.
Trulieve has since opened scores of locations across 11 states and recently surpassed 100 stores in Florida. Earlier this year, it finalized the purchase of Harvest Health & Recreation for $2.2 billion, which made the Tallahassee-based company the largest legal cannabis corporation in the nation.