- By offsetting the company’s operational carbon emissions and the personal emissions of all 1,200 employees, HEXO will become 100 per cent carbon neutral
- The company will also offset the plastic used in their pouch packaging through Plastic Bank®
- Through a partnership with Offsetters, HEXO will be measuring and offsetting its carbon emissions in support of the Great Bear Forest Project
- HEXO has offset 63,000 kilograms of plastic in 2021 – the equivalent of over 3.15 million plastic bottles
- HEXO is a licensed producer of innovative products for the global cannabis market
- HEXO Corp. (HEXO) opened trading at C$8.42 per share
HEXO Corp (HEXO) has announced its commitment to offsetting the company’s operational carbon emissions and the personal emissions of all 1,200 employees.
HEXO will become 100 per cent carbon neutral from September 2021 onwards.
The company will also offset the plastic used in their pouch packaging through Plastic Bank® in partnership with Dymapak, HEXO’s primary packaging supplier.
These actions highlight HEXO’s goal to become an Environmental, Social, and (Corporate) Governance (ESG) leader in the cannabis industry.
“We have always taken our responsibility for sustainability seriously. Now, as we are on the verge of becoming the top Canadian LP by recreational market share and continuing down the path towards top three globally, it’s more important than ever to take meaningful action to protect our planet – and this is just the start,” said HEXO CEO and co-founder Sebastien St-Louis.
“We are challenging ourselves and the rest of the industry to do better, so in addition to becoming carbon neutral by offsetting our operational emissions, we feel it is our obligation to offset our employees’ emissions as well.”
Through a partnership with Offsetters, in support of the Great Bear Forest Project, HEXO will be measuring and offsetting its carbon emissions starting with its 2020 calendar year, making HEXO 100% carbon neutral by September 2021 in addition to offsetting their employees’ personal emissions*.
The Great Bear Forest Carbon Project reduces carbon emissions by protecting forests previously designated, sanctioned or approved for commercial logging.
Carbon finance supports the local First Nations communities by generating stewardship jobs protecting the Great Bear Rainforest – the largest intact coastal temperate rainforest remaining in the world – and offsets the equivalent of one million tonnes of carbon dioxide each year.
“On top of their own commitment to carbon neutrality, HEXO has raised the bar by committing to purchase offsets to mitigate their employee’s personal emissions,” said Dawn Hancock, Director of Client Engagement at Offsetters.
“This is the first time we’ve seen a company of this size make this kind of commitment and we hope that it helps to spur stronger commitments from other companies.”
In conjunction with HEXO’s primary packaging supplier Dymapak and its partnership with Plastic Bank, the company has offset 63,000 kilograms of plastic in 2021 – the equivalent of over 3.15 million plastic bottles. HEXO will continue to counteract the use of all plastic in its packaging.
Plastic Bank builds ethical recycling ecosystems in coastal communities and reprocesses the materials for reintroduction into the global manufacturing supply chain. Collectors receive a premium for the materials they collect to help them provide basic family necessities such as groceries, school tuition and health insurance.
“Ocean plastic is a critical issue with increasing challenges,” said Ross Kirsh, CEO at Dymapak.
“Environmental consciousness has never been more important and we’re proud to partner with Plastic Bank and HEXO to mitigate the impact of child resistant bags and other plastic packaging. It’s our hope that other businesses will turn interest into action by committing to plastic neutrality.”
Offsetting HEXO’s carbon emissions, the emissions of their employees, and counteracting the use of plastic packaging are among the latest steps in the company’s company-wide mission to build a business that balances profit, people, and the planet. HEXO will monitor and publicly report on its greenhouse gas emissions, carbon neutrality, and its continued efforts to improve sustainability. This includes minimizing waste at facilities, moving towards a more virtual workforce, reducing carbon emissions at production facilities, as well as exploring new sustainable packaging materials that are more easily recyclable or biodegradable.
The recent acquisition of Zenabis and planned acquisitions of 48North and Redecan also offer unique opportunities to integrate sustainable practices and grow the company’s positive impact along with their business.
HEXO is a licensed producer of innovative products for the global cannabis market. HEXO serves the Canadian recreational market with a brand portfolio including HEXO, UP Cannabis, Original Stash, Bake Sale, Namaste, and REUP brands, and the medical market in Canada, Israel and Malta.
Founded in 2010, Dymapak is the leading global manufacturer of innovative child-resistant packaging solutions engineered and designed for a variety of applications and industries.
Plastic Bank® builds ethical recycling ecosystems in coastal communities and reprocesses the materials for reintroduction into the global supply chain as Social Plastic®. Collectors receive a premium for the materials they collect which helps them provide basic family necessities such as groceries, cooking fuel, school tuition, and health insurance.
Offsetters is one of Canada’s largest and most diversified carbon management solutions companies. Its team of industry leaders specializes in the development and commercialization of high-quality carbon offset projects.
HEXO Corp. (HEXO) opened trading at C$8.42 per share.
