Hexo Corp. (NAS:HEXO) announced Tuesday its commitment to offsetting all of its operational carbon emissions and the carbon emissions of its 1,200 staff members, including powering their homes and food consumption, by September 2021. The cannabis company will also offset its plastic use through a partnership with Plastic Bank. With help from Offsetters, a Canadian carbon management company, Hexo will measure corporate carbon emissions from 2020, becoming carbon neutral by September. So far, in conjunction with its plastic packaging supplier Dymapak, the company has offset 63,000 kilograms of plastic in 2021. Hexo stock has rallied nearly 89% for the year to date while the S&P 500 index (S&P:SPX) is up 12.5% for the period.
June 8, 2021, 6:55 a.m. EDT