Why it matters: This article highlights the issue of the empty Cannabis Social Equity Trust Fund in Massachusetts. The fund was created to provide financial support to equity-owned cannabis businesses in the state, but no money has been distributed yet.
What they are saying: The report states that the fund remains empty nearly a year after its creation. The law that established the fund requires 15% of cannabis sales revenue to be allocated to social equity and economic empowerment businesses. However, a technical issue with the way the law was written has prevented the transfer of funds to the trust.
The big picture: Massachusetts legalized adult-use cannabis sales in 2018, and the industry has been thriving in the state. However, the issue of social equity and inclusion within the industry remains a challenge. The creation of the Cannabis Social Equity Trust Fund was intended to address this issue but has faced obstacles in its implementation.
What to watch: It will be important to monitor how Massachusetts resolves the technical issue that has prevented the transfer of funds to the Cannabis Social Equity Trust Fund. Additionally, the efficacy of the fund in supporting equity-owned cannabis businesses and promoting social equity within the industry will be worth observing.
My take: This article highlights the disconnect between the intention to promote social equity in the cannabis industry and the actual implementation of supportive measures. It is concerning that the Cannabis Social Equity Trust Fund remains empty, as this means the intended beneficiaries are not receiving the financial support they were promised. To truly address social equity in the cannabis industry, it is crucial that funds like these are adequately funded and effectively distributed to support marginalized groups and those affected by the war on drugs.
