'If true costs are the problem, then true prices are the solution'
Today, the vision paper A roadmap for true pricing is published. In the context of the global commitment to the Sustainable Development Goals (SDGs), True Price sets out a vision on how to systematically address issues such as underpayment, loss of biodiversity and carbon emissions within today's economic system.
The true price is the market price plus the unpaid external costs. True pricing helps address all costs made in the production of goods and services by making hidden costs transparent. For instance, those costs that are paid by communities living next to a polluting factory, or the future generation that will have to deal with the increasingly disrupting effects of climate change.
This vision paper proposes a roadmap to realize a sustainable economy with true pricing at its core. It explains how true pricing can transform our economic system in three phases: first by creating transparency, second by enabling the remediation of hidden costs and finally by creating a level playing field. Concrete starting points are presented for businesses, investors, governments and consumers on how to start with true pricing. In addition, the paper argues for a collective effort to embrace a true pricing standard.
This true price vision paper is the first publication in a series of open source publications on true pricing. True Price will share in the coming period the normative foundations of its standard, followed by a step-by-step release of the standard itself, accompanied by a public stakeholder consultation. The current vision paper will be further improved based on stakeholder feedback and True Price openly invites comments on the paper. During the coming three months (June 2019 – August 2019), we are holding a consultation period. If you would like to contribute to the vision paper, please send an email to firstname.lastname@example.org.
Only by working together we can accelerate a sustainable economy with true pricing at its core. Join us.
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