Church of England backs medicinal cannabis investments

The body responsible for investing the funds of the Church of England has said it is willing to invest in the medicinal cannabis industry for the first time, saying it holds the drug to the same standard as other pharmaceuticals.

The Church Commissioners is the Church’s historic endowment fund and holds assets worth £8.2 billion (nearly $10.4 million). The Church Commissioners is a closed fund, meaning it does not take in new contributions. Profits from the investments are used to pay for bishops and ministry costs, supporting local dioceses and clergy pensions.

The announcement follows a change in the law in the United Kingdom with regards to medicinal cannabis. The U.K. legalized the use of medicinal cannabis in November 2018, following in the footsteps of Canada and many states in the U.S.

“There has been no change to our overall position on medicines,” a spokesperson for the

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