Blessed with regions of sub-tropical climate and an expanse of agricultural space, Oceania is fast emerging as a global contender in both the medical cannabis and adult-use space thanks to increasingly liberal attitudes in the region. At the time of writing (mid-March 2020), New Zealand intends to introduce its Medical Cannabis Scheme, administered through its Medical Cannabis Agency, from 1 April 2020, followed by a national vote on adult-use legislation on 19 September, while a law that legalises adult-use cannabis for recreational purposes came into effect on 31 January in the Australian Capital Territory (ACT) in neighbouring Australia. With both countries keen to establish a domestic supply and future export industry, Oceania is a focus for global investment in 2020 while also offering a commercial gateway into the emerging Southeast Asian market for the future. Australia in particular punches above its weight in relation to the number of publicly listed companies trading on the Australian stock exchange (ASX). With over 30 companies currently listed, this is considerably more than the number of publicly listed companies in all of the countries in Europe combined. In the face of global upheaval, which the COVID-19 coronavirus pandemic represents, the continued growth of companies such as Little Green Pharma and the opportunities for investors that such growth provides, is a welcome good news story, in uncertain times.

Australia’s devastating wildfires of 2019 claimed more than 11 million hectares of land
across all states and territories. Australia holds ambitions to become a major player in
the global cannabis industry and the success of this industry in the country could help to counteract the cost to the economy of the fires (financial services company Moody’s
Analytics estimates the economic impact of the fires stands at more than US$2.9 billion
(AU$4.4 billion). However, cannabis companies operating in Australia are also duty-bound to perform good corporate citizenship by engaging positively with affected communities during this disaster, moderating their water consumption and helping communities to rebuild through employment opportunities or provision of infrastructure, for example. In the longer term, the industry must be mindful of its impact on climate change and the implications of this for natural disasters such as the fires that besieged Australia in the latter part of 2019 and the first weeks of 2020. As the cannabis industry is in its relative infancy, there is a very real opportunity for businesses to set the foundations for a flourishing, considerate, eco-conscious and socially intelligent industry.

On a more positive note, Australia boasts a disproportionately large number of companies listed on the Australian Stock Exchange (ASX).

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