TGOD stock is in the green today after The Green Organic Dutchman (TSX:TGOD) (OTCQX:TGODF) received the prestigious Leadership in Organic Farming Award from COTA, the Canada Organic Trade Association.
Commitment to Sustainability
The Green Organic Dutchman, which has always pushed itself as a leading organic cannabis producer in the Canadian market, announced the receipt of the award on Thursday, which recognizes the firm as a trailblazer for its sustainable actions in a resource-intensive industry known for its large carbon footprint. The award is a testament to TGOD's commitment to organic practices, which were implemented through a series of key initiatives to bolster its environmental, social, and governance (ESG) program. News of the award has sent TGOD stock up around 1.75%.
"TGOD was born from a bold vision, building the global leader in certified organic cannabis. Receiving this award validates the hard work and dedication of the team at TGOD and speaks to our promise of making life better for our customers and the communities where we do business. We would like to thank COTA for recognizing our efforts and commitment to sustainable organic cultivation," said CEO Brian Athaide. TGOD stock is currently trading for $0.57.
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The Green Organic Dutchman believes that consumers are becoming increasingly savvy about the cannabis they purchase, which is leading to a boom in the organic cannabis sector. Additionally, market research indicates that sustainability is now more than ever a key factor in purchasing decisions as consumers favor supporting environmentally responsible organizations. However, this boom is yet to translate to TGOD stock performance, which is down almost 90% in the last year.
A Turning Point for TGOD Stock?
The award marks a good week for The Green Organic Dutchman after the company announced on Tuesday that it had received a five-year research license from Health Canada, which will allow it to reduce the cost and accelerate the pace at which it develops new products by eliminating reliance on third parties. The company said it intends to use the license to further develop its range of cannabis 2.0 products, expected to be launched later this year. With TGOD stock currently near an all-time low, perhaps this week could mark a turning point for the struggling pot producer.
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