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The Church of England lifts investment ban on pot stocks

Kirk Smol by Kirk Smol
November 11, 2024
in News
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The Church of England lifts investment ban on pot stocks

These days it seems like everyone is investing in pot stocks—including the Church of England.

Traditionally, the Church Commissioners for England (CCE), which oversees and allocates GBP £12.6 billion (CAD $21.2 billion) of church assets, has functioned on a self-imposed ban of any financial touch point with the unregulated cannabis industry.

Now that the laws are shifting in the U.K., however, the Church is changing its tone. It says it will consider investing in licensed companies with a focus on medical cannabis.

“We make a distinction between recreational cannabis and medicinal cannabis. We are content with it being used for proper medicinal purposes,” Edward Mason, head of investment for the Church Commissioners, told a reporter for the Financial Times.

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Medical cannabis was legalized in the U.K. in November of 2018 and the decision is reflective of a rising swell of support for decriminalization. A poll published by the London-based Centre for Medicinal Cannabis in October showed 58 percent of those living in the U.K. support legalization, in contrast to 31 percent who oppose.

As cannabis is traditionally classed as a “sin stock”, alongside alcohol corporations, pornography, gambling, and tobacco, the Church’s ethical advisory board will be consulted to ensure “Christian, theologically informed” investments. The organization says any foray into pot stocks will now fall more in line with its approach to investing in pharmaceutical companies.

Kirk Smol

Kirk Smol

Kirk's journey through the digital realm began with lines of code and algorithms dancing in his dreams. Armed with a keyboard and an insatiable curiosity, he embarked on the path of software engineering. However, fate had a smoky twist in store for him. As the ones and zeros swirled around him, Kirk had an epiphany – he realized that he was more interested in the highs and lows of the cannabis industry than debugging lines of code. With a leap of faith that would make a bungee jumper blush, he bid farewell to the world of semicolons and database queries and embraced the intoxicating allure of cannabis journalism. Now, Kirk finds himself navigating a different kind of network, one that's all about buds, trichomes, and terpenes. Armed with a pen that's mightier than a vaporizer and a keen eye for detail, he's on a mission to unravel the mysteries of the green world.

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