When does a movement become real? My guess it happens when two things merge: humans and money.
The hemp world has been steadily climbing to reach more people because it makes a difference in their lives. That could be their health, their pocketbooks, or their imagination.
Even with all the posers and the half-starts, optimism is still leading the way. The hemp industry is loaded full of us who have drunk the whole plant Kool-Aid and we can almost smell all the opportunities.
The humans are here, and we are increasing every day as more people learn about the possibilities of the plant. In fact, it’s a bit incredulous to think about all the uses.
But what about the money? Again, take out all the posers and the shucksters and con men, now serious Wall Street investment money is poised to start investing in sustainability in projects like renewable fuels and energy. A case in point is BlackRock’s Chairman and CEO Larry Fink’s “2021 Letter to CEOs”. BlackRock is an undisputed powerhouse for capital markets (http://blackrock.com) and he gives this counsel in his annual CEO letter:
“I believe that the pandemic has presented such an existential crisis – such a stark reminder of our fragility – that it has driven us to confront the global threat of climate change more forcefully and to consider how, like the pandemic, it will alter our lives. It has reminded us how the biggest crises, whether medical or environmental, demand a global and ambitious response.”
You can read the entire letter to CEOs by clicking here.
He goes on to acknowledge that climate risk is indeed investment risk, but it also provides an unprecedented investment opportunity. He quotes a Broadbridge study showing between January and November 2020, over $288 billion was invested in sustainable assets. Yes, that’s with a “B” as in billions (like $288 million isn’t enough). It’s a 96% increase from 2019.
But what does that have to do with hemp? Fortunately, a lot. Hemp has high energy outputs (like BTUs) when used in biofuel/energy production and there are plenty of studies to prove it. When hemp is coupled with other renewable biomass like garbage from landfills and chicken litter and sawdust from lumber mills, then you are literally cooking with renewable gas.
This is why our co-op is focused on the development of multiple biofuel sites in addition to other uses of fiber. We currently have an agreement to create bio-crude oil and are deep in discussions with a major off-take for biodiesel. We’re glad to be singing from same hymnal as Larry Fink.
Humans and money: a good combo for a good Earth.