A growing number of schemes aimed at offering industrial hemp farmers an additional and potentially significant revenue stream through the issuance of carbon credits have begun to emerge over the past year.
Despite the controversy surrounding much of the carbon credits market, the potential opportunities are beginning to turn the heads of many investment-starved UK cannabis businesses.
While the crop’s green credentials have long been touted by the industry, the carbon credit framework, alongside a major new research project, could be the tip of the spear used to break stifling regulations and ‘unlock the potential’ of hemp for both the UK’s economy and climate.
The British Hemp Alliance’s Founder Rebecca Shaman told Business of Cannabis: “Five years ago [hemp] was considered the poor Cinderella of the cannabis industry and no one really talked to us. I would say in the next two or three years, when the data comes together, we’re going to see hemp be considered a really, really important crop for the future.”