(Alexandria, VA) – Today, it was announced that Norway’s sovereign wealth fund will reverse a decision to invest 900 million NOK into various marijuana companies and companies with ties to the marijuana industry. This decision comes after Smart Approaches to Marijuana (SAM) partnered with a broad coalition of concerned citizens and associations in the country to apply pressure on the fund to withhold investment. In response to this groundbreaking announcement, SAM President Dr. Kevin Sabet released the following statement:
“Several weeks ago, we were approached by concerned individuals who felt this investment was a gross violation of ethics and Norwegian law for their pension fund, and we were happy to partner in researching and assist them as they ratcheted up pressure on this fund. When the leadership were made aware that these companies – who take massive investments from Big Alcohol and Big Tobacco – actively market child-friendly, highly potent marijuana gummies, candies, and other edibles that are addictive and harmful, the decision to invest in them was revoked. This is a banner day for public health and an example of SAM’s global leadership on this issue. Not only are we helping defeat legalization bills across the United States this year, we are also working to cut off international investment into the second coming of Big Tobacco.”
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