MJBizMag March 2022 - 19
National & International News
INDUSTRY DEVELOPMENTS
INDUSTRY DEVELOPMENTS National & International
and verify the carbon and
greenhouse gas benefits
associated with those practices.
* Develop markets and promote
the resulting climate-smart
commodities.
Applications will be taken in two
groups, sorted by the size of the
proposals. Deadlines are:
* April 8 for the first funding pool
(proposals from $5 million to
$100 million).
Tom
Vilsack
Hemp Businesses Might
Qualify for Climate-Smart
Funding, Ag Secretary Says
Hemp was lauded as a climatesmart
commodity for its use as
a construction material by U.S.
Agriculture Secretary Tom Vilsack
as he highlighted new funding
opportunities for farmers.
Speaking at a university in
Missouri on Feb. 7, Vilsack pointed
to hemp when he announced that
the U.S. Department of Agriculture
will invest $1 billion in climatesmart
commodities.
The new Partnerships for ClimateSmart
Commodities fund will go
to farmers, ranchers and forest
landowners who use climate-smart
practices, Vilsack said.
The USDA defines a climate-smart
commodity as a commodity crop
produced using practices that
reduce greenhouse gas emissions or
sequester carbon.
The USDA's Commodity Credit
Corp. will be used to fund pilot
projects and provide incentives to:
* Implement climate-smart
production practices, activities
and systems on working lands.
* Measure or quantify, monitor
New Australian Cannabis
Import Rules Could Leave
Non-GMP Producers Cold
Australia's Department of Health,
preparing to overhaul its medical
marijuana regulations, is poised
to require that all products
imported into the country's small
but growing cannabis market be
produced in accordance with Good
Manufacturing Practice (GMP).
The government currently
requires Australian medical
cannabis manufacturers to comply
with GMP standards. However, a
similar requirement does not apply
to products imported into Australia.
The move would effectively
shut out non-GMP-compliant
manufacturers operating overseas
by bringing production rules
governing imported medical
* May 27 for the second funding
pool (proposals from $250,000
to $4,999,999).
cannabis products into line with
those produced domestically.
One of the most meaningful
changes involves imported medical
cannabis products, which currently
don't have to adhere to the same
strict quality production requirements
as locally made versions.
The companies importing the
goods, known as sponsors, will have
to maintain evidence to show compliance
for each batch of medical
cannabis products they import.
The government has pledged an
unspecified " reasonable " transition
period so companies can adapt to
the new requirements.
Legal Marijuana Has Added
$34.2B to Canada's GDP,
Report Says
Canada's regulated cannabis
industry contributed $34.2 billion
(CA$43.5 billion) to the country's
gross domestic product between
recreational marijuana legalization
in 2018 and 2021, according to a new
report.
That estimate by the Deloitte
consultancy calculated $3.5 billion
of direct GDP contributions as well
as $11.9 billion in tax revenue, not
including licensing fees or revenue
from government wholesalers.
mjbizdaily.com | March 2022 19
http://www.mjbizdaily.com
MJBizMag March 2022
Table of Contents for the Digital Edition of MJBizMag March 2022
MJBizMag March 2022 - 1
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