As more investment vehicles make social responsibility a key requirement, it will not be enough for cannabis companies to claim the plant alone makes a company socially responsible. Bloom Farms has made this a part of its company mission.
The company just hit a milestone delivering its one-millionth healthy meal to California’s nonprofit food banks. For every Bloom Farm product sold, this California cannabis company donates money to food banks across the state to cover the cost of sourcing and distributing a healthy meal.
“From the start, we wanted to build a business that contributed to the communities we live and work on in many levels,” said CEO Michael Ray. “Donating our one-millionth meal shows that we’re succeeding for our customers who have purchased one million of our products and appreciate that we are working toward the greater good, and for California’s most vulnerable families who have received the gift of nutritious food.”
BlackRock investment firm recently stated that it was now going to require that companies must engage in some form of social responsibility in order for those companies to receive investment money. While some cannabis companies stepped up to help in the California wildfire many don’t have it as a part of their mission. Denver-based Organa Brands is also very socially active and set up its own charitable arm with employees volunteering their time.
“Partnering with Bloom Farms has made all the difference for World Harvest LA and its clients,” said Glen Curado, CEO of World Harvest LA Food Bank. “They not only contribute financially, but their staff volunteers with us as often as they can. It’s an amazing company with extraordinary staff.”
In addition to the one-for-one program, Bloom Farms gives employees four hours of paid volunteer time every month to use as they choose.Last year, Bloom Farms was recognized as one of the Top 100 corporate philanthropists in the San Francisco Bay area placing them alongside Google, eBay, Microsoft and PayPal to name a few.
“Bloom Farms is a different kind of cannabis company, and our customers know that when they choose our products,” said Keith J Hart, Bloom Farms Social Good Manager. “Our company’s visions is to change the conversation around cannabis and one of the core values is to give something amazing back; our food bank partnership allows us to do both and we are excited to hare this milestone with them.”