A multi-stakeholder cannabis trade organisation – the Cannabis Services Advisory Board – has launched on the island of Jersey in preparation of the next phase of the regulated cannabis sector in the British Isles.
The board will aim to play its role in the ongoing development of the legal cannabis sector in the coming years. As part of this role, the Cannabis Services Advisory Board has begun to bring together businesses, legislators, and other stakeholders in monthly meetings to act as an official conduit between the growing industry and government.
One of the aims of the board will be to provide input to government on commercial industry development issues with an aim to further regulatory progression within the British Isles.
According to a press release, existing board members include Jersey-based medical cannabis cultivation company Northern Leaf, cannabis production company Cicada, and cannabinoids group Tenacious Labs. The Board is also open to additional members.
Both Northern Leaf and Cicada have been granted commercial medical cannabis licenses to allow for the cultivation and manufacture of high-THC cannabis products for the export market.
Other aims of the advisory board include to promote Jersey worldwide as a financial centre for the cannabis sector with the appropriate legislation and regulation. Jersey became the first place in the British Isles to be granted a Home Office license for the extraction of CBD from hemp products – a practise that is still prohibited in the UK.
Having been set up with support from the Jersey government, the Cannabis Services Advisory Board will aim to represent all interested parties in the emerging cannabis sector, from growers to financial services. Furthermore, the board has already been actively engaged with the Jersey government initiative to update current legislation around the sector.
Cannabis Services Advisory Board Chairperson, and CEO of Tenacious Labs, Nick Morland commented: “The Board provides an essential trade body for cannabis organisations on Jersey.
“Not only does it take on an ambassadorial role for the industry attracting new investment from across the globe, it also provides a vital communication channel between those organisations and the Government of Jersey.”
Jersey Deputy Chief Minister and Minister for Economic Development, Tourism, Sport and Culture Senator Lyndon Farnham also said of the establishment of the Cannabis Services Advisory Board: “We support the Cannabis Services Advisory Board’s work ensuring quality and safety for Jersey cannabis services and products.
“We are building a world-leading industry on the island and this kind of voluntary self-regulatory underpinning by those actively engaged with this emergent sector will ensure our products are first class.”