What are Ethical Products?
- bronwenrussell
- Nov 7, 2020
- 3 min read
I’m sure you’ve heard the term Ethically Sourced but what does it actually mean? Is it different from Fair Trade? And how does Ethical Trading Group ensure it sells sustainable and ethical products?
My aim in this blog is to shed some light on the meaning and principles behind these terms and how you can be a part of helping disadvantaged communities through the purchase of ethical products from Ethical Trading Group.
Let’s firstly look at the dictionary meanings of some of these words:
1. pertaining to or dealing with morals or the principles of morality; pertaining to right and wrong in conduct.
2. being in accordance with the rules or standards for right conduct or practice, especially the standards of a profession: It was not considered ethical for physicians to advertise.
1. the buying of components of a product from an outside supplier, often one located abroad:
Foreign sourcing in the auto industry has eliminated jobs.
1. trade carried on under a fair-trade agreement.
1. pertaining to a system that maintains its own viability by using techniques that allow for continual reuse: sustainable agriculture. Aquaculture is a sustainable alternative to overfishing.
2. able to be maintained or kept going, as an action or process: a sustainable negotiation between the two countries.
This can sound a little overwhelming but the main message is to ‘Do the Right Thing’. The World Fair Trade Organisation has put together 10 Principles of Fair Trade to help guide us on this journey.
Principle 1: Creating Opportunities for Economically Disadvantaged Producers - Poverty reduction by making producers economically independent.
Principle 2: Transparency and Accountability - Involving producers in important decision making.
Principle 3: Fair Trading Practices - Trading fairly with concern for the social, economic, and environmental well-being of producers.
Principle 4: Payment of a Fair Price - Paying producers a fixed price by mutual agreement, ensuring socially acceptable wages depending on the location.
Principle 5: Ensuring no Child Labour and Forced Labour - Adhering to the United Nations (UN) Convention on children’s rights.
Principle 6: Commitment to Non-Discrimination, Gender Equity and Women’s Economic Empowerment and Freedom of Association - Respecting the trade union rights and rejecting discrimination based on gender, religion, or ethnicity.
Principle 7: Ensuring Good Working Conditions - Providing a safe and healthy working environment for producers and workers in line with the International Labour Organization (ILO) conventions.
Principle 8: Providing Capacity Building - Seeking to develop the skills of producers and workers so they can continue to grow and prosper.
Principle 9: Promoting Fair Trade - Raising awareness for the need for greater justice in world trade by trading fairly with poor communities.
Principle 10: Respect for the Environment - Caring for the environment by maximising the use of sustainable energy and raw materials while minimising waste and pollution.
Alireza Shayan explains the reasons why businesses should source ethical products in his blog ‘What does Ethical Sourcing really mean for your business?’. Here he explains that the main reasons that businesses ensure their products are produced ethically are: to mitigate their risks, to reduce operating costs, and to protect their brand image and meet customer demands to grow sales. This reinforces that businesses care about ethical products and that there is a strong push from consumers too. A 2018 Forbes article ‘88% Of Consumers Want You To Help Them Make A Difference’ clearly shows how the attitude towards our environment and how we do business not just quality, is important to consumers like you and me. This support for businesses providing ethical products grew the ‘Revenue of Fairtrade International products worldwide 2004-2018’ to 9.8 billion euros. A tremendous continual average growth of 20% per year for 14 years, now that is more than what most companies get.
Ethical Trading Group understands these and has prepared the following values called ‘R.E.A.D.I’.
To wrap it up ethical practices mean we are acting responsibly to ensure that Ethical Trading Group sells only ethical products. By purchasing products from Ethical Trading Group you know that your money is invested into financially isolated communities sustainably and ethically. Visit our website to view our ethical products today.
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