As Canada moves forward with Bill C-45, federal legislation grapples with questions concerning Canada’s position relative to the UN drug control conventions. Legalization would make Canada the first G7 country to adopt legal adult recreational cannabis use. This compromise allows for the majority of public opposition to prohibition while balancing federal non compliance to UN treaties, as Canada moves forward with federal legalization of non-medicinal cannabis in 2018.
International political factors historically impose ‘suppression conventions’ that underpin a range of prohibition regimes in international law, thereby limiting market growth and development in fringe industry. These conventions may become questionable in time and therefore ought to be open to review and re-interpretation.
Policy Report 7 by the joint committees of GDPO, WOLA and TNI advocate Inter se modification of the UN drug control conventions to facilitate cannabis regulation. This policy procedure would help to study, shape and characterize future drug control system shifts within the legal boundaries of international law, a modification facilitating a solid legal basis from which to learn how different models of the industry operate within acceptable international policy, rather than those that oppose or oppress.
Within new federal policy and legislation, Canadian banks such as TD Bank, have announced they would consider participating in the cannabis sector once recreational marijuana becomes legal in Canada later this year. This marks a major step towards legitimacy and the acceptability criteria used to determine a tolerable level of risk for financing a market; one example of how government regulation helps affect and promote new industry and economic development.