On February 10th, 2022, the Minority Cannabis Business Association (MCBA) will take the first step on a journey to usher in a new era of social equity with the release of the National Cannabis Equity Report and Equity Map with support from The Arcview Group, and in association with Weedmaps and Parallel.
The Report and Map provides critical data from social equity programs, as well as other policies impacting equity in medical and adult-use markets. The Equity Map is a dynamic digital tool for advocates, lawmakers, and stakeholders to gather and track policies that will provide an understanding and analysis of the numerous barriers to entry for minority operators on a state and municipal level. As new states and policies come on-line, the Report and Map will be continuously updated to reflect the current standing of social equity in the country.
“We created the Equity Report and Map to empower advocates and industry with data and tools to address barriers to entry and create real equity in the cannabis industry,” said Amber Littlejohn, MCBA Executive Director. “Through the collected data, we can now take a closer look at what is being done, and where there is room for improvement to advance social equity efforts.”
The Report highlights the findings of 41 policy points from several states and can be explored in the Equity Map. Among those highlights, MCBA identified seven initial conclusions that can be used to reexamine state social equity programs which include the use of non-race criteria in social equity qualifications, timely funding, license caps, and ownership bans for individuals with past cannabis convictions.
“For years, policymakers have been haphazardly throwing social equity provisions against the wall to see what sticks, albeit with good intentions,” said David Abernathy, Principal-Arcview Consulting and MCBA Board Member. “With this seminal work, we can finally start to account for what’s worked and what hasn’t and use that knowledge to create more well-crafted and effective social equity provisions to make the shifts that are essential as we move forward.”
As an early supporter of the Report and its findings, Parallel, one of the largest privately held multi-state cannabis companies, is eager to address the harms of cannabis prohibition and create a more diverse cannabis industry.
“We applaud MCBA for commissioning this report and for highlighting this important industry issue. At Parallel, we understand the responsibility companies like ours have with our position and expertise in the industry to use cannabis as a tool for restorative justice and economic empowerment – especially to those who have been most impacted by this issue,” said James Jackson, Senior Director for Social Equity at Parallel. “We are proud to provide our full support of MCBA’s report and toolkit and we pledge to commit our resources to help advocate for the fundamental changes the report highlights, as necessary for the cannabis industry to become truly equitable and sustainable moving forward.”
The Report and Equity Map will be released during a special edition MCBA/Arcview Access webinar on Thursday, February 10th, 2022, 1:00 pm PT/ 4:00 pm ET. To register for the event, please visit https://arcviewgroup.com/product/mcba-social-equity-report/. Access the National Cannabis Equity Report and interactive Equity Map today by visiting: http://nationalcannabisequityreport.com
For more information on how you can help support this report or get involved with the ever-growing coalition of brands and companies behind it, please click Here.
Minority Cannabis Business Association Founded in 2015, the Minority Cannabis Business Association (MCBA) is the largest national trade association dedicated to serving the needs of minority cannabis businesses and our communities. MCBA represents more than 300 minority and allied cannabis businesses and industry and community leaders who share a vision for an equitable, just, and responsible cannabis industry. Our mission is carried out by a 15-member Board of Directors composed of a diverse group of industry veterans, medical and legal professionals, advocates, and community leaders. Learn more: Website
The Arcview Group
Arcview is a vertically integrated professional services firm servicing the cannabis, hemp and psychedelic industries, built with social justice and responsibility at its core. Arcview has been a trusted global leader for over eleven years and a nexus for investors, companies, entrepreneurs, and community, providing a broad spectrum of programs and services to the industry. The Arcview Group’s ecosystem of companies includes Arcview Capital, Arcview Consulting & Market Research, Arcview Marketing, Arcview Ventures, Arcview Events & Experience and Women’s Inclusion Network. Connect with us: Website | LinkedIn | Instagram
Parallel is one of the largest privately held, vertically integrated, multi-state cannabis companies in the United States with a mission to pioneer well-being and improve the quality of life through cannabinoids. Parallel has ongoing operations in five medical and adult-use markets under the retail brands of Surterra Wellness in Florida; goodblend in Texas and Pennsylvania; New England Treatment Access (NETA) in Massachusetts, and a joint venture with Cookies retail brand in Nevada, with a sixth market on the way. Parallel has a diverse portfolio of high quality, proprietary, and licensed consumer brands and products including Surterra Wellness, Coral Reefer, Float and Heights offered through its retail wholesale business. Find more information at www.liveparallel.com, or on Instagram and LinkedIn.
WM Technology, Inc.’s (Nasdaq: MAPS) mission is to power a transparent and inclusive global cannabis economy. Founded in 2008, WM Technology is a leading technology and software infrastructure provider to the cannabis industry. WM Technology has worked tirelessly, not only to become the most comprehensive platform for consumers, but to build the software solutions that power businesses compliantly in the space, to advocate for legalization, social equity, and licensing in many jurisdictions, and to facilitate further learning through partnering with subject matter experts on providing detailed, accurate information about the plant.
Visit us at www.weedmaps.com and www.wmpolicy.com.