The largest religious organization in Great Britain, The Church of England, announced that it is exploring investing into medical marijuana.
The Church announced that it is removing a longstanding prohibition on medical cannabis in order to explore investing in the industry.
According to a Financial Times (FT) report this week, the Church Commissioners will “for the first time” consider investing in firms that deal in medical cannabis only.
Church Commissioners are responsible for managing its £8.3 billion in assets. They have managed to grow the fund by 5% year-over-year for the past 30 years.
“We make a distinction between recreational cannabis and medicinal cannabis,” Edward Mason, the Church’s chief of responsible investment, told the FT. “We are content with it being used for proper medicinal purposes.”
The Church of England’s senior cleric is Archbishop of Canterbury but the monarch is the supreme governor.