Business must serve the well-being of all people, not shareholders!
Vienna (OTS/SK) – The motto of this year’s World Fair Trade Day on May 11, 2024 is “Earth good, all good”. SPÖ spokeswoman for foreign policy and global development, Petra Bayr, emphasizes the need for fair trade instead of pure free trade as it is currently practiced: “The capitalist free trade model has led to unsustainable consumption of resources, environmental destruction and social inequality. We all see the devastating effects of this development on people and the environment. Fair trade shows that economic activity for the benefit of all is possible.” ****
For Bayr, the key to a fairer trading system lies in clear rules: “Voluntary measures have so far not been enough to ensure environmentally and climate-conscious business around the globe. “That’s why it’s even more important that we have a first EU supply chain law this year.”
“I am pleased that Austria is one of the top three sales markets for fairly traded products and that sales have not been affected by high inflation, increased price sensitivity in retail and a weakened economy. Fair trade products even recorded growth of 12 percent last year. We must continue to focus on holistic agriculture that makes small farmers in countries in the global south sustainable,” said Bayr. (final) sd/up
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