The Cost of Doing Nothing: UK Hemp’s Missed Millions

(With a significant number of honourable exceptions) Westminster risks continuing with the same issue of support from individuals locked down by general inertia. And no, this is not specific to our new government. It’s not good enough.

Every year of government inaction on industrial hemp is costing the UK jobs, tax revenue, and climate progress. While France, Germany, and the U.S. scale up, we’re stuck in neutral, blocked by outdated regulations like the Proceeds of Crime Act (POCA).

So, bear with me while I list out some of what we're losing out on (with sources incase anyone wants some light further reading):

£700 million in potential economic growth by 2030 – enough to fund key public services without raising taxes (Hemp-30 Report).

20,000 direct jobs and 200,000 livelihoods across farming, processing, and manufacturing (gov.uk).

1 million tonnes of CO2 sequestration annually – hemp captures 9-15 tonnes per hectare, far outpacing forests (European Commission).

Carbon-neutral materials for 250,000 homes annually – cutting construction emissions by up to 40% (UK Hempcrete).

A crucial feedstock for aviation biofuels, supporting the UK’s goal of 10% SAF by 2030 and creating over 10,000 jobs (UK Gov Advanced Fuels Fund).

£32 per tonne in carbon credits, with the potential to rise considerably if we had a government-backed carbon credit scheme. For context, the UK Emissions Trading Scheme (ETS) compliance market expects prices to average £79.22 over 2024-2025 (ieta.org).

What needs to happen now:

1.⁠ ⁠Reform POCA to attract investment and allow farmers to scale up production.
2.⁠ ⁠Create a government-backed carbon credit platform to make hemp commercially viable and push credit prices higher.
3.⁠ ⁠Support farmers and manufacturers with clear policy frameworks to scale the industry.

The cost of doing nothing? More missed opportunities, lost investment, and watching other nations take the lead.

It’s time to act. The UK has the resources, the talent, and the market—so why are we waiting?

P.S. if you'd like the page-specific sources, let me know. Happy to oblige.

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