UPEXI, INC.
Climate Impact & Sustainability Data (2022, 2022-06 to 2022-12, 2023)
Reporting Period: 2022
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- COVID-19 pandemic impact on business operations, supply chain, and customer spending.
- Competition in the health and wellness product market.
- Evolving regulations in the CBD industry.
- Risks related to product liability claims.
- Attracting and retaining key employees.
- Limited supply sources and potential price increases or shortages of raw materials.
- Loss of key contracts with suppliers.
- Loss of key customers.
- Limited availability of clinical studies on hemp-based products.
Mitigation Strategies
- Implemented business continuity plans, including remote work.
- Focus on product quality and customer service to compete effectively.
- Monitoring and adapting to changes in CBD regulations.
- Maintaining adequate insurance coverage.
- Investing in talent acquisition and retention programs.
- Developing alternative sourcing strategies.
- Maintaining strong relationships with suppliers.
- Diversifying customer base.
- Conducting research and testing on product formulations.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2022-06 to 2022-12
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- substantial uncertainty and different interpretations among federal, state and local regulatory agencies, legislators, academics and businesses as to the scope of operation of Farm Bill-compliant hemp programs relative to the emerging regulation of cannabinoids.
- significant uncertainty around the breadth and duration of business disruptions related to COVID-19, as well as its impact on the U.S. and international economies
Mitigation Strategies
- transition to a combination of work from home and social distancing operations