Green Economy (True Price)
The Worldconnectors working group on Green Economy initiated the True Price initiative, which is now supported by various organizations, including NCDO, the Sustainable Trade Initiative (IDH), Oxfam Novib, CNV, AkzoNobel, DSM, Rabobank, and FMO. True Price was launched in November 2012.
True Price is a nascent movement aiming to contribute to a sustainable economy by promoting transparency regarding actual prices to consumers. The true price includes the retail price plus unpaid social and ecological external costs (such as underpayment of workers and environmental pollution). When products incorporate their true price, consumers can precisely determine which products are the most sustainable. Simultaneously, companies will innovate to reduce their negative impact because they want to stand out positively among sector competitors. True Price also provides producers with insights into the impact of their sustainability measures, enabling them to communicate them clearly to their customers.
True Price will first disseminate the vision that an economy with true prices is sustainable and establish a platform for exchanging ideas on this topic. Second, it will facilitate the development of a standard, in collaboration with businesses, research institutions, governments, NGOs, investors, and consumers. Finally, it will promote transparency and the reduction of external costs.
The Worldconnectors Round Table on June 24, 2013, concluded with the official launch of True Price, which included an initial glimpse into the methodology that True Price is developing to assess both natural and social capital. In addition to Worldconnectors, several special guests from various involved companies and organizations, including Triodos, CNV, and DSM, were present. You can read our news article (nieuwsbericht) about the Round Table and the launch of True Price.
To learn more, you can visit the True Price website.