Corporate Social Responsibility and Fair Trade

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Fair trade In 2001, the international Fair Trade movement adopted the following definition for Fair Trade. “Fair Trade is a trading partnership, based on dialogue, transparency and respect, that seeks greater equity in international trade. It contributes to sustainable development by offering better trading conditions to, and securing the rights of, marginalized producers and workers – especially in the South.” (European Fair Trade Association, 2006) Fair trade can be viewed as a social movement that aims in the development and well being of producers in developing countries. It cannot be said to be a charity, moreover it helps producers in developing countries to help themselves with fair wages and good living and working conditions. Fair trade products are sold in many stores and outlets of companies in developed countries. The recognition for Fair trade products increases daily and thus the demand for it. ‘Go eat’ outlet in the University of Wolverhampton is an excellent example for Fair trade; the University also hosts Fairtrade Fortnight, creating awareness about fair trade amongst the students. (The University of Wolverhampton, 2011) Contemporary Social Responsibility (CSR) If one of your contractors is found to be exploiting its workers, giving kickbacks to local officials, or polluting a river, it can cause untold damage to your brand. Pressure groups pounce, and damning media coverage follows. Faced with these pressures, companies need to understand and manage the impact that their buying decisions have on local communities, workers and the environment. That’s where CSR becomes important. (CSR Network, 2008) Corporate social responsibility (CSR) can be defined as the "economic, legal, ethical, and di... ... middle of paper ... ...rtrade.org.uk/what_is_fairtrade/fairtrade_foundation.aspx [Accessed 27 February 2011]. 7. Traidcraft., 2004. Fairtrade Tool Kit.Traidcraft, briefing paper, [Online] Available at:http://www.traidcraft.co.uk/Resources/Traidcraft/Documents/PDF/tx/campaigns_CSR_difference.pdf[Accessed on 2 Feb 2011]. 8. The University of Wolverhampton., 2011. Fairtrade at the University of Wolverhampton. [Online] Available at: http://www.wlv.ac.uk/default.aspx?page=16442 [Accessed 26 Feb 2011]. 9. Brendan O’Neill. 2007. How fair is Fairtrade?. BBC News, Magazine, [Internet] 7 March 2007. Available at: http://news.bbc.co.uk/1/hi/magazine/6426417.stm [Accessed 27 February 2011]. 10. Food and Drink Europe. 2006. A fair trade future. Food and Drink, Europe.com, [Internet] 30 October. Available at: http://www.foodanddrinkeurope.com/Retail/A-fair-trade-future [Accessed 3 March

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