+ 0.60
+ 0.4%

UN's Commission On Narcotic Drug Delays Vote On Cannabis Recommendations

February 26, 2019 2:02 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
UN's Commission On Narcotic Drug Delays Vote On Cannabis Recommendations

The United Nations' Committee on Narcotic Drugs will not be voting on the recommendations provided by the World Health Organization vis-à-vis cannabis at its upcoming session in March. The delay in vote comes after the recommendations were submitted later than expected.

What Happened

Last month, the World Health Organization issued several recommendations to the CND regarding cannabis. The organization advised recognizing the medical usefulness of marijuana and its removal from Schedule IV and providing additional information about CBD not being under international control, among other things.

The recommendations from the WHO's Expert Committee on Drug Dependence’s were originally expected in December.

During the CND Intersessional Meeting on Feb. 25, representatives of several countries, including Japan, Germany, Russia and The United States, asked for more time to consider the recommendations.

The CND will hold its 62nd session between March 14 and 22 in Vienna. On March 7, the CND will hold its next intersessional meeting.

The Cannabis Capital Conference is coming back to Toronto April 17-18!

Why This Is Important

Currently, cannabis and cannabis resin are included in Schedule I and Schedule IV of the 1961 Single Convention on Narcotic Drugs.

"Substances that are included in both these Schedules are particularly liable to abuse and to produce ill-effects and have little or no therapeutic use. Other substances that are included in both Schedules I and IV are fentanyl analogues, heroin and other opioids that are considered especially dangerous," according to WHO.

With the Schedule IV being the most restrictive, removing it from there will ensure it's still a controlled substance but can be accessed for medical purposes.

Approving the recommendations could be a major step forward for legalization of cannabis in more countries, even though a number of UN members, such as Canada and Uruguay have fully legalized cannabis for both medical and recreational use. Approving WHO's recommendations will serve as a recognition by the UN of the cannabis' therapeutic properties.

Providing clarity regarding CBD will also pave the way for governments to regulate CBD products and make them more available. This will create major opportunities for companies like Aurora Cannabis Inc. (NYSE:ACB) and Tilray Inc. (NASDAQ:TLRY), which are already establishing a global footprint, as well as for CBD-focused companies like New Age Beverages Inc. (NASDAQ:NBEV).

Related Links:

Aurora Cannabis Enters Portugal Market Through Gaia Pharma Acquisition

'A Watershed Year': Why Cannabis Policies Matter More Than Ever For 2020 Presidential Hopefuls

Related Articles

Michigan Cannabis Sales Near $1B In First Year Of Adult-Use Sales

Cannabis sales in Michigan spiked during December, bringing the total to $984.6 million for 2020. read more

Cannabis Movers & Shakers: Next Green, Cannabis Control Commission, Willow, TruTrace, HEXO, Bengal Capital, MediPharm Labs, NIHC

Here is a summary of the latest leadership changes within the cannabis industry. read more

Cannabis SPACs Will Remain Popular In 2021 Despite Several Challenges

Cannabis companies continue to face restrictions on most national exchanges. Special-purpose acquisition companies (SPACs) help fill the funding void. These types of deals are occurring more often as a less costly and more efficient go-public strategy. read more

USDA Approves Hemp Regulatory Proposals For Rhode Island, Soboba Band of Luiseno Indians

Rhode Island and the Soboba Band of Luiseno Indians received approvals from the U.S. Department of Agriculture (USDA) for its hemp regulatory proposals. read more

Regulatory Update: Arizona, Kansas, Montana, And New Jersey

Arizona Issues New Draft Legalization Rules, Will Start To Accept Cannabis Business Application Soon During November’s election, a majority of Arizona voters said “yes” to recreational cannabis. read more