Another milestone for the true pricing movement
During the True Price festival editions of the past 2 years, we announced the launch of the first supermarket with true prices and the first café with true prices.
Today we are proud to announce that as of the 14th of February, true pricing has reached the shelves of yet another location.
Deloitte’s Amsterdam office The Edge now offers coffee and tea at true prices, calculated by True Price! Employees and visitors of the building now get the chance to learn about the environmental and social impacts of their cup of coffee or tea and can voluntarily pay the true price.
The true price of coffee and tea at The Edge
For the calculation of the true prices of coffee and tea of Deloitte’s The Edge, eight environmental and social impacts were considered: climate change, water use, land use, air pollution, water pollution, use of scarce materials, child labour, and poverty. The additional costs of the various products ranges from a few cents to almost 1 euro depending on the beverage. The true price can be paid voluntarily, meaning that customers can choose whether to pay the standard price or also the additional true price gap. For the calculation of the true price of the coffee and tea, various steps in the supply are considered, among which cultivation (including the raw materials used at the farm), transport to and within the Netherlands and the use of energy at the coffee bar.
The FairClimateFund is the platform chosen for the remediation of the externalities occurring in the value chain of the coffee and tea sold at The Edge. The true price payments will be used to finance and implement climate projects that result in less CO2 emissions, to protect trees and improve the living conditions for people in developing countries.
Michel Scholte on the assessment of true pricing for Deloitte
‘First, we assess the entire supply chain of a product. Then we identify any violations of human, sustainability, and labour rights within the supply chain, and finally, we calculate the cost of remediating these violations, based on the sum of restoring, compensating, preventing and possibly fining the violations.’