Climate Change Impact On Cannabis: USVI is Ahead Of The Game
Cannabis Is Aiding The Fight Against Climate Change
There has been an increasing push for businesses to embrace renewable energy options and reduce their overall carbon footprint to better address climate change. One of the industries which can best address climate change is the cannabis industry. However, state and territory regulations and requirements vary so much that this overall implementation can be fairly scattershot. However, a shining example of climate change industry leader can be found in the U.S. Virgin Islands (USVI).
Here is how entrepreneurs are priming to be leaders in climate change adaptation and efficiency by starting business operations in the USVI and how the USVI itself is proving to be an excellent starting place for green energy and green-focused operations.
The Current State of USVI’s New Cannabis Market
License Applications Underway
The USVI is currently in the middle of its first cannabis licensing application round. Applications are currently being accepted for cultivation and micro cultivation business licenses. This application window closes on June 27th but there are already plans in place for the next application window (retail/cannabis dispensary licenses) that will be accepted starting June 30th. As of now, the cannabis market in the USVI does allow for the ownership of multiple cannabis license types, making vertical integration possible for selected cultivation license winners.
Setbacks Are Adding to Current Application Complexity
However, as we observed in a previous USVI cannabis update, “The (Office of Cannabis Regulations) OCR is clearly making their best effort to roll out this new program, but technical setbacks have held up the initial weeks of the application process. Delays have led to a two-part application, with one stage consisting of basic applicant information and attestations and a second stage for business, operational, and compliance plans.”
Getting everything in order prior to submission is essential and Canna Advisors is happy to help entrepreneurs capitalize on a marketplace that is sure to be one of the most lucrative given the high tourism figures across the territory.
The Connection Between Climate Change and Cannabis
Cannabis Carbon Footprint
Climate change and the impacts of operating a cannabis business have long been linked. Emissions caused by cannabis cultivation, along with extensive water usage for growing, have made been noted by operators. As observed by The Breakthrough Institute, “As it turns out, the production of an ounce (28.3 grams) of dried weed can generate more carbon dioxide emissions than a road trip from San Francisco to Los Angeles. Smoking 10 joints, assuming half a gram of marijuana per joint, emits an amount on par with the climate impact of consuming an 8-ounce sirloin steak. Other than a serving of beef, no animal product even comes close to the carbon footprint of a single marijuana cigarette.”
Industry Innovation Is Easing The Pain
But also as observed, cannabis entrepreneurs are looking at ways to embrace green technology. LED lights are almost always mandatory for indoor cultivation, electrical engineering best practices have improved, as have HVAC systems with improved fans and changeable settings, and automation and measurement of energy usage has become more commonplace.
How USVI Cannabis Is Primed To Combat Climate Change
Costs Make Energy Efficiency A Necessity
The USVI has also taken note of these vital industry developments and requirements. The practical reality is that energy efficiency is a necessity for operational success in the USVI. Electrical grid power in the island territory is costly and often inconsistent, particularly following Hurricane Maria. Therefore, cultivators and other cannabis operators are not just encouraged but pushed to embrace passive airflow greenhouses or hybrid indoor-outdoor growing systems, solar power, battery backups, and efficient environmental controls.
For success in the USVI, energy efficiency is a must. Not only does it help to reduce one’s overall climate change impact, but it sets a business up for long term sustainability. When it comes to making green in the USVI the message is simple; adopt green.
Revenue Projections Will Drive New Development
Entrepreneurs have a unique opportunity to move into an island territory which understands the needs for profitability of cannabis and the needs of energy efficiency. The Caribbean is expected to see over $325 million in cannabis revenue in 2025, and now is the best time to get your operational readiness plan set up. While many cannabis business regions may have luxury of a slower start and higher-cost strategies, the USVI’s existing and future revenue projections will most certainly drive a higher demand for the most efficient and climate-friendly business practices.
Join The Green Future Of USVI Cannabis
Thinking of starting a cannabis business in the U.S. Virgin Islands? Our team is keeping an active pulse on the USVI cannabis market and we have decades of consultative experience helping to start businesses in these unique regions of the globe.
Whether you’re looking to be a green-focused entrepreneur or just have questions on how to get started with your own license, reach out to Canna Advisors directly or book an hourly consultation today!