Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY) is taking a step towards sustainability in the cannabis industry by launching a campaign and packaging all its Good Supply brands with hemp-made materials.
The leading cannabis and beer producer announced on Tuesday the launch of its sustainable hemp packaging initiative, which will prevent over 131,000 kilograms of plastic waste from ending up in landfills each year.
Additionally, in collaboration with the software firm PrintReleaf, Tilray has contributed to the reforestation of more than 2,000 trees, with ongoing efforts as of August 2023, effectively offsetting a remarkable 150,000 pounds of paper consumption.
The company says that cannabis users will be twice as likely to purchase a cannabis product if it comes in sustainable packaging versus one that doesn’t.
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Tilray has introduced eco-friendly hemp tubes for its Good Supply pre-rolls and 1 gram Pax Pods. It also unveiled hemp composite mouthpieces for its 510 vape cartridges. Additionally, the company’s transition to recycled content bags for whole flower has led to a significant reduction of over 38,000 kilograms of plastic waste each year.
Tilray said that later this year it will roll out the same sustainable hemp packaging for its brands across Canada such as RIFF and Broken Coast.
Company stock went up by 2.46 per cent on Tuesday to USD$2.08 on the Nasdaq Stock Exchange.
Cannabis packaging? Think [Re] Waste. #cannabis #recycle #cannabisretail #cannabispackaging #esg #display #cannabisindustry #CannabisCommunity pic.twitter.com/KFYCSuqJka
— ReWaste.ca (@ReWaste_ca) September 28, 2023
The Canadian cannabis industry has a pollution problem
The cannabis industry has previously been criticized for its unnecessary packaging to host small items like pre-rolls.
In a study by Ryerson University researchers, it was found that between October 2018 and August 2019, around 5.8 million-6.4 million kilograms of plastic cannabis containers ended up in landfills.
Health Canada regulations prohibit consumers from reusing these containers, resulting in their disposal in recycling bins. In certain jurisdictions, such as Toronto, the black containers and doob tubes face recycling challenges due to optical sorters’ inability to detect black plastics.
Sorting even the lighter-coloured plastics remains challenging, especially when some packaging incorporates up to three different plastic types, leading to a substantial amount ending up in landfills
Some companies have started recycling campaigns to mitigate the pollution caused by cannabis packaging.
natalia@mugglehead.com
