SCALING UP TRANSPARENT AND EFFECTIVE TRUE PRICE PAYMENTS
Thanks to the support from the Chocolonely Foundation, we are excited to announce a new three-year project to reshape the way we approach the remediation of external social and environmental costs.
Over the past ten years, True Price, in collaboration with numerous partners, has developed a method to quantify and monetise social and environmental costs associated with the daily products we produce. With the tools now available to calculate true prices, we see more and more retailers and value chain partners in the Netherlands joining the true price movement. There is, however, a lack of consensus on principles, criteria, and guidance for utilizing true price payment funds to structurally support a more sustainable future.
How can true price payment funds be best harnessed to restore, compensate for past damages, or prevent future harm?
Over the next three years, we will build two complementary tools:
Open Access Guidance: With the support and input for multiple-stakeholders we aim to develop an accessible step by step resource to help set up true price payments effectively, with specific guidance on prioritizing prevention and remediation activities or different social and environmental impacts.
Platform: Harnessing technology to revolutionize the way true price payments are transferred. By facilitating these payments, we aim to make the entire process transparent and efficient. This ensures that funds go where they are needed most, fostering trust and accountability.
Human and environmental rights are at the centre of True Pricing. At the same time, more and more customers are seeking real impact in sustainability projects, and businesses are eager to avoid the pitfalls of greenwashing. We believe these new tools will help address these key challenges.
We look forward to collaborating with partners, both old and new, as we embark on this exciting project.