Hemp and Sustainable Agriculture in North America Dissertation

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[. . .] The triple bottom line approach purposes to more precisely value assets and leverage resources, in order for capital to be utilized as efficaciously and efficiently as possible. The theory is at times alluded to as the 3Ps (people, planet, profit), triple value addition, and blended value (Emerson, 2003). Triple bottom line philosophy is notified by and is linked to the conception of sustainable development – the principle that development ought to take place in manners that address the needs of present generations and at the same time sustaining conditions and prospects for forthcoming generations to do the same (Hammer and Pivo, 2017). Intrinsic in the delineation of sustainable development at the notions of environmental stewardship and intergenerational and intergenerational impartiality. Endeavors to delineate and address sustainability were generated from the acknowledgement that prevailing development patterns cannot carry on devoid of ruining the environmental systems essential to maintain life and economies, and that important incongruence within and between generations is neither viable, moral, not in line with development objectives (Roberts and Cohen, 2002). Triple bottom line offers a context for measuring the performance of the business and the achievement of the organization utilizing the economic, social, and environmental facets.

Economic Line

The economic line of the triple bottom line framework alludes to the effect of the entity’s business practices and activities on the economic system. It encompasses the capacity of the economy as one of the sub-groups of sustainability to endure and progress into the future so as to support forthcoming generations. In accordance to Alhaddi (2015), the economic line is linked to the growth and development of the entity to the growth and development of the economy and the manner in which it makes a contribution to back it up. Basically, it lays emphasis on the economic value offered by the organization to the neighboring system in a manner that thrives it and promotes for its capacity to support the generations to come (Elkington, 1997).

Social Line

The social line of the triple bottom line framework takes into account undertaking beneficial and equitable practices to the labor, human capital and to the community. This notion is that these practices render value to the society and help the community (Elkington, 1997). Fitting examples of these actions might comprise of health care coverage and equitable compensations. Apart from the moral element of being good to the society, overlooking social responsibility can have an impact on not only the performance but also the sustainability of the business. According to research undertaken by Alhaddi (2015), entities incur economic costs when they choose to ignore social responsibility. Imperatively, the social performance lays emphasis on the interrelation between the community and the entity and takes into consideration issues linked to community participation, employee associations and equitable remunerations (Goel, 2010).

Environmental Line

The environmental line of the triple bottom line framework takes into account being involved in practices that are not in concession of the environmental resources for forthcoming generations. It relates to the efficacious use of energy resources, diminishing greenhouse gas emissions, and alleviating the ecological footprint. Akin to the social element of the triple bottom line, environmental initiatives have an effect in the business sustainability of the entity (Goel, 2010).

Empirical Review

Hemp has been a significant crop in the course of human history for the purposes of food, medication, as well as fiber. In spite of the major substantial advancement made by the global research community, there continues to be an insufficiency in regards to research concerning this topic. Being a plant that is domesticated, hemp has numerous advantages such as eradication of any form of seed shattering, improving not only the quality but also the quantity of the stem fiber and also augmenting carbon capture. In the contemporary, there is also the need for capitalizing on optimizing hemp for sustainability purposes (Schluttenhofer and Yuan, 2017). In this section, we review the various scholarly literatures undertaken by researchers regarding hemp and sustainable agriculture.

Sustainable hemp seed, fiber and oil continue to be utilized in raw materials in huge corporations, including The Body Shop, Ford Motors, and also Patagonia, in the production of a wide range of products. Nonetheless, majority of hemp product manufacturers are enforced to import hemp seed, oil and fiber from agronomists situated in Europe, China and Canada. This is for the reason that American farmers and proscribed by legislation from growing this sustainable crop that necessitates low input. Statistics indicate that in the 2012 fiscal year, the valuation of the American hemp industry was $500 million in yearly retail sales and growing for all hemp products (Yonavjack, 2013).

Hempseed production has been comparatively thriving and successful in Canada. There are several claims and assertions that industrial hemp could substantially transform the American economy in a beneficial manner. However, it is imperative to bear in mind that there has more often than not been unwarranted eagerness and interest for diversification and newfangled crops. Whereas there is seemingly good potential for growth and expansion of the hemp industry within North America, this has also been the very same instance for several other crops in the past five decades. There have been exceedingly expectant claims for crops broadcasted as having significant potential, but a small number of them have in fact attained such potential (Cherney and Small, 2016).

Hempseed has significantly more potential as an oilseed crop than as a source of fiber. This benefit has largely been perceived in North America. Notably, Canada has grown to be the chief nation of hempseed production from the time the industrial crop was reintroduced in the nation in 1998. The nutritional benefits of hempseed and hempseed oil are rapidly attaining recognition in North America, and there is a rapid increase in sales of these hempseed products. Taking into consideration that majority of hempseed is at the present moment grown for human consumption, and the seed and oil have restricted shelf life, domestic production is beneficial to evade rancidity preceding any kind of consumption. In addition, there is a fast growing market for organically-produced foods in North America, and organic accreditation of hempseed from outside North America is challenging (Fike, 2016).

The fundamental necessity of the oilseed hemp industry takes into account the development of cultivars that generate high yields in order to increase the competitiveness of hempseed as compared to other oilseeds. The current level of production of oilseed hemp stands at approximately 1 to 1.5 tonne for every hectare under proper climatic conditions. Nonetheless, this is yet to be an adequate level for the crop to be an intense rival to major oilseeds. Imperatively, a mean throughput of at least 2 tonnes for every hectare will be essential for the transformation of hempseed into a major oilseed, an objective that is in fact attainable. In the contemporary setting, losses of about 30 percent of the seed output are frequent and therefore enhancements in harvesting know-how ought to also add to greater yields. Hemp food products cannot evade their niche market position and status up until the price of hempseed intensely competes with that of other oilseeds, especially sunflower and flax seeds (Johnson, 2018).

Despite the fact that the hempseed industry infrastructure has been in position in North America and specifically in Canada for a period of about 15 years, its stability might be significantly rivaled and contested against by American hempseed production in the forthcoming periods. In the event the United States starts producing hempseed, possibly almost 30 states will project generating a profit on hemp by retailing to the adjacent states. The inference of this is that it might take almost a decade for the industry in North America to come to terms with to the new-fangled pattern. The ambiguity in harvests, production outlays, harvesting and processing equipment, and production features will all increase the risk of hempseed production in the United States, up until it becomes a standard crop (Fortenbery and Mick, 2014).

Hemp has had a significant impact on socioeconomic sustainable agriculture in North America for the past three to five years. In particular, farmers in the United States started growing industrial hemp in 2014 subsequent to its legalization in almost five decades. According to Cooke (2018), in spite of the issues of legality, the market for industrialized hemp products such as body care products such as lotions and soaps, edible items such as hemp seeds and hemp milk in addition to industrial products such as auto parts and building and construction materials, had been in existence even prior to the legislation. For instance, in the 2013 fiscal year, the sales of these products surpassed the $581 million mark. Subsequently, after numerous years of proscription, a provision in the 2014 farm bill endorsed growing hemp under a stringent set of circumstances,… [END OF PREVIEW] . . . READ MORE

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