True Price Hosts Solidaridad’s ‘Cheapest Store of the Netherlands’

Did you buy anything on Black Friday? A day known for having huge discounts on the stuff we buy. It’s a good time of the year to ask yourself: who pays the true price of cheap stuff?

For one day only, our partner Solidaridad turned our brand-new True Price Store into the ‘Cheapest Store of the Netherlands’ (De Goedkoopste Winkel van Nederland).

This pop-up awareness initiative drew attention to the price distribution of products we buy. The promotion offered consumers bananas, chocolate and coffee for the price that producers and farmers receive, which is a fraction of the price consumers pay at the supermarket.

The reality is that most farmers don’t make a living wage. For example, on average cocoa farmers only receive 7% of the price consumers pay at the supermarket goes to these farmers while the store receives 44% of the profit. This pop-up initiative aimed to share the unequal price distribution and what low prices mean for society and the environment.

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Learn more by reading about this pop-up imitative:

 

 

 

True Price is excited to announce the launch of the Impact Economy Foundation

Announcing the launch of the Impact Economy Foundation

True Price is excited to announce the launch of the Impact Economy Foundation.

The foundation aims to accelerate the transition from a financial economy to an impact economy. An impact economy is an economy in which work, entrepreneurship, innovation, and technology leads to well-being.

An economy that not only maximizes financial capital, but all capitals, including social, human, natural, produced, intellectual. That not only maximizes shareholder value, but value for all stakeholders, including employees, society, nature, and suppliers.

And an economy in which every professional is an Impact Professional.

The Impact Economy Foundation incubates open-source methods for Impact Statements – focused on businesses, investors, and institutions.

Together we will build a global community of Impact Professionals. Join our Impact Professionals LinkedIn Group and Impact Economy Foundation Page to stay up to date.

Learn more about our other organizations.

 

A roadmap for true pricing

“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 consultation@trueprice.org.

Only by working together we can accelerate a sustainable economy with true pricing at its core. Join us.

About True Price

True Price is a social enterprise with the mission to realize sustainable products that are affordable to all by enabling consumers to see and voluntarily pay the true price of products they buy. True Price was founded in by social entrepreneurs Michel Scholte and Adrian de Groot Ruiz.

Further information

You can access and download the vision paper: A roadmap for true pricing.

For further information or interview requests, please reach out to us at info@trueprice.org or +31 20 240 3440.

Address True Price

True Price
Kabelweg 57
1014 BA
Amsterdam

The True Price of Jeans

What is the true price of a pair of jeans?

On average the true price is 33 euros above the retail price.

Using the true price method, Impact Institute and ABN AMRO‘s report the True Price of Jeans (Dutch version: True Pricing in de jeansketen) is being featured by Dutch national news outlets including NU.nl, de Telegraaf, RTLZ, Trouw, on radio 3 and on TV RTL EditieNL.

How can this gap be closed? The cotton must be produced more efficiently and forced labor must be stopped. At the same time, workers need to earn living wages. Finally, circularity should be improved by reusing the denim from jeans more often.

Interested in learning more? Join us on 4 June for The True Price of Food Event we are hosting in collaboration with Pakhuis de Zwijger and Circl. This event is the first of three that will explore how true pricing can be applied to various sectors. In September, the second event will explore The True Price of Fashion.

At True Price, we want to raise consumers’ awareness of the background of products of good. Typically, the retail price does not consider the external effect the production of goods has on society and environment. For that reason, True Price wants to make things transparent to calculate the real cost – or the true price– of products.

New milestone in moving towards True Price open standards!

Imagine a world where every product is priced for its true price, a price which considers social and environmental costs too, such as underpayment of workers and air pollution. Last month, this world became one step closer as True Price took an important step in its mission to enable everyone to know the true price of a product. Together with our friends at Wageningen University and Bionext we kicked-off a program on True and Fair Pricing to make true pricing methodology available to everyone as an open standard.

So what does this actually mean? This means that soon for example bakeries, banks, farmers can use these open source standards to have better insights on the true price of their products, reduce their environmental impact and improve the conditions of their employees. And it help can you choose environmentally and socially sound products by seeing their true price.

In the coming years we will work closely with many organizations such as ABN AMRO, Rabobank and the EKO foundation to determine the true price of products, amongst others of potatoes and tomatoes.

Michel Scholte, Executive Director at True Price: “We’re extremely happy to be chosen by the Dutch government Top Sector to further develop and share our standards on true pricing. Only by working together and sharing our insights we can move quickly to a world where we enable everyone to know the true price of food!”

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* This project is financially supported by the Dutch Topsector Agri & Food. Within the Topsector, private industry, knowledge institutes and the government are working together on innovations for safe and healthy food for 9 billion people in a resilient world.