SOUTHERN MINDANAO INSTITUTE OF TECHNOLOGY, INC.
National Highway Brgy. Buenaflor, Tacurong City
Email Add: smit.inc85@gmail.com
Telefax No.: (064) 200-6866
BACHELOR OF SCIENCE IN BUSINESS ADMINISTRATION
Major in Financial Management
21st Century Global Trade: Traders' Social and
Environmental Responsibilities in Promoting
Fair and Ethical Exchanges
BAINA S. TANTONG
BSBA MM 31
KRISTIAN NIKKI T. SOURIBIO, LPT
Instructor
GIOVANNI SUBALDO
Program Head
First Semester
S.Y. 2024 - 2025
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21ST CENTURY GLOBAL TRADE: TRADERS' SOCIAL AND ENVIRONMENTAL
RESPONSIBILITIES IN PROMOTING FAIR AND ETHICAL EXCHANGES
Introduction
The 21st century has experienced a significantly increased volume of
international trade, which has been prompted by technical improvements and
economies that are interconnected. The numerous social and environmental
concerns that are associated with international commerce have been brought to light
as a result of this interconnection. In spite of the fact that globalization has
unquestionably provided economic benefits to a great number of people, it has also
revealed vulnerabilities in the global trading system, which has raised questions over
justice, ethical actions, and the possibility of our planet's continued existence. Given
these circumstances, it is of the utmost importance for businesspeople to take
responsibility for the social and environmental impact they have.
Within the context of international trade in the 21st century, this
advocacy explores the fundamental issue of strengthening relationships that are
consistent with ethical principles and equitable distribution. It addresses the social
and environmental responsibilities of traders and draws attention to the necessity of
a change in direction toward a model of international trade that is more equitable
and sustainable. Through an analysis of the complicated structure of international
trade, this work proposes to point out important issues, suggest practical solutions,
and promote a future in which social justice, environmental integrity, and economic
prosperity coexist together.
Issues Concerning Fair and Ethical Exchanges
The exploitation of workers in developing nations is one of the most urgent
issues that arises in the context of international trade. The competition of low
production costs frequently results in the outsourcing of manufacturing to places
with inadequate regulations regarding labor. This, in turn, leads to unsettling
working conditions, low wages, and the denial of fundamental worker rights. In this
particular context, not only does this exploitation harm the dignity of workers, but it
also gives an unfair competitive advantage for businesses that demonstrate profit
over ethical procedures to compete with other businesses. This creates a troubling
cycle where companies prioritize short-term gains at the expense of long-term
sustainability and social responsibility. As a result, consumers may inadvertently
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support these practices by choosing lower-priced products without recognizing the
hidden costs to human rights and fair labor standards.
Accordingly, the influence that international trade has on the environment is
yet another difficult challenge to overcome. The movement of commodities over
extensive distances results in the release of significant amounts of greenhouse gases,
which in return contributes to the occurrence of climate change. In addition, the
extraction of raw materials and the creation of goods frequently lead to environmental
degradation, which includes the destruction of forests, the accumulation of
pollutants, and the exhaustion of natural resources. The pursuit of economic
expansion at the expense of the environment is not only unsustainable over the long
term, but it also poses a significant risk to the health of the planet.
Similar to this, the lack of transparency and accountability that exists within
global supply chains is a significant barrier that stands in the way of the promotion
of ethical and fair transactions. Subsequently, it can also be challenging to trace the
origin of items and to verify that ethical and environmentally responsible business
practices are implemented along the chain when dealing with complex supply chains
that frequently involve several intermediaries. In return, the absence of transparency
facilitates the unfettered abuse of labor and the environment, weakening consumer
trust and complicating the promotion of ethical trade.
Objectives
The purpose of this paper is to create a model of international commerce that
is more equitable and sustainable by conducting a thorough assessment of the social
and environmental difficulties that are linked with global trade in the 21st century.
The purpose of this campaign is to advocate for a new approach in the way that we
handle worldwide trade, going beyond merely acknowledging the problems and
looking into solutions that may be implemented. Accordingly, this paper seeks to do
this through a set of interconnected objectives, each of which contributes to a
complete strategy to tackling the complexity of global trade.
This paper aims to achieve the following objectives:
1. Identify and analyze the key social and environmental challenges associated
with global trade.
2. Develop a framework for understanding the social and environmental
responsibilities of traders.
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3. Propose concrete strategies and initiatives to promote fair and ethical
exchanges in global trade.
4. Advocate for the implementation of policies and regulations that support
responsible trade practices.
5. Raise awareness among stakeholders, including traders, consumers, and
policymakers, about the importance of ethical and sustainable global trade.
Proposed Plans and Programs
To ensure that global trade continues to thrive in the future, it is necessary
that all stakeholders involved make collective efforts toward promoting ethical and
equitable exchanges. In order to accomplish this, a change in perspective is needed
as is a willingness to accept responsibility and an approach which stresses working
together to discover solutions. Correspondingly, a road map for moving forward is
provided by the objectives that are articulated in this article. Therefore, a more
sustainable and equitable global trading system that benefits all parties involved can
be established by implementing the proposed plans and programs.
1. Fair Trade Certification and Labeling
To promote fair trade practices and empower consumers to make informed
choices, a comprehensive fair-trade certification system must be developed and
implemented. This system should include rigorous social and environmental
standards, ensuring that certified products meet high ethical and sustainable
criteria. Furthermore, promoting the use of fair-trade labels on products will educate
consumers about the ethical and sustainable sourcing of goods, encouraging their
support for ethical trade. This transparency will incentivize businesses to adopt fair
trade practices and create a demand for ethically sourced products.
2. Sustainable Supply Chain Management
Reducing the environmental impact of global trade and ensuring ethical
treatment of workers throughout the supply chain requires a shift towards
sustainable supply chain management practices. Encouraging companies to adopt
these practices, including reducing transportation distances, minimizing waste, and
promoting responsible sourcing of raw materials, is crucial. Moreover, developing
tools and resources to support companies in implementing these practices will
provide them with the necessary support to make their supply chains more
sustainable and ethical.
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3. Transparency and Accountability Initiatives
To prevent exploitation and environmental damage, increasing transparency
and accountability in global supply chains is essential. Promoting the use of
blockchain technology and other innovative tools to track products and ensure
transparency throughout the supply chain will provide a clear and verifiable record
of the product's journey. Establishing mechanisms for independent audits and
reporting will ensure that companies are adhering to ethical and sustainable
standards, holding them accountable for their actions and fostering a culture of
transparency and responsibility.
4. Education and Awareness Campaigns
Raising awareness among consumers, traders, and policymakers about the
importance of fair and ethical trade is crucial for driving change. Developing
educational materials and campaigns to inform consumers about the social and
environmental impacts of their purchasing decisions will empower them to make
conscious choices. Engaging with traders and policymakers to promote responsible
trade practices and advocate for policy changes that support ethical and sustainable
global trade will create a more supportive environment for ethical and sustainable
business practices.
5. International Cooperation and Collaboration
Addressing the challenges of global trade requires a collaborative approach
involving governments, businesses, and civil society organizations. Promoting
dialogue and collaboration among these stakeholders will facilitate the development
and implementation of global standards for responsible trade. Supporting the
development of international agreements that promote fair labor practices,
environmental protection, and sustainable development will create a framework for
ethical and sustainable global trade, ensuring that the benefits of globalization are
shared equitably and sustainably.
Plan/Program
Fair Trade
Certification
and Labeling
Objective
Promote fair trade
practices and
provide consumers
with clear
information about
the ethical and
Implementation
Develop and implement a comprehensive
fair
trade
includes
certification
system
that
rigorous
social
and
environmental standards. Promote the
use of fair trade labels on products to
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sustainable sourcing
of products.
Reduce the
environmental
Sustainable
impact of global
Supply Chain
trade and ensure the
Management
ethical treatment of
workers throughout
the supply chain.
Increase
educate consumers and encourage their
support for ethical trade.
Encourage
companies
to
adopt
sustainable supply chain management
practices,
including
reducing
transportation
distances,
minimizing
waste,
promoting
responsible
and
sourcing of raw materials. Develop tools
and resources to support companies in
implementing these practices.
Promote the use of blockchain technology
transparency and
and
Transparency
accountability in
products
and
global supply chains
throughout the supply chain. Establish
Accountability
to prevent
mechanisms for independent audits and
Initiatives
exploitation and
reporting to ensure that companies are
environmental
adhering
damage.
standards.
Raise awareness
among consumers,
Education and
traders, and
Awareness
policymakers about
Campaigns
the importance of
fair and ethical
trade.
other
Develop
Cooperation
and
Collaboration
and
to
tools
ensure
ethical
track
transparency
and
educational
to
sustainable
materials
and
campaigns to inform consumers about
the social and environmental impacts of
their purchasing decisions. Engage with
traders and policymakers to promote
responsible trade practices and advocate
for policy changes that support ethical
and sustainable global trade.
Promote
International
innovative
dialogue
and
collaboration
Encourage
among governments, businesses, and
international
civil society organizations to develop and
cooperation and
implement
global
standards
for
collaboration to
responsible
trade.
Support
the
address the
challenges of global
trade.
development of international agreements
that
promote
environmental
fair
labor
protection,
sustainable development.
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practices,
and
Significance of the Advocacy
This advocacy for fair and ethical global trade holds profound significance for
a wide range of sectors and stakeholders. For consumers, it empowers them to make
informed purchasing decisions, aligning their spending with their values of fairness
and sustainability. Customers can choose to support companies that prioritize
ethical practices and help create a more just and sustainable society by being given
clear information about the ethical and environmental impact of products through
certification and labelling. This shift in consumer behavior can create a powerful
market force, incentivizing businesses to adopt ethical and sustainable practices to
meet the demands of conscious consumers.
The significance of this advocacy extends to businesses as well, providing a
framework for ethical and responsible operations. Consequently, in a step towards
the implementation of fair trade practices, sustainable supply chain management,
and transparency initiatives, businesses can enhance their reputation and build
trust with consumers. This can lead to increased customer loyalty, improved brand
image, and a competitive advantage in a market increasingly concerned with ethical
and sustainable practices. Moreover, by adopting these practices, businesses can
contribute to a more sustainable future, reducing their environmental impact and
promoting the well-being of workers throughout their supply chains.
Finally, this advocacy has crucial implications for governments, highlighting
the need for policy reforms and regulatory frameworks that promote fair and ethical
trade practices. In terms of advocating for policies that support fair labor standards,
environmental protection, and transparency in global supply chains, governments
can create a level playing field for all stakeholders and ensure that the benefits of
globalization are shared equitably and sustainably. Henceforth, it can also include
enacting regulations that hold businesses accountable for their social and
environmental impact, incentivizing ethical practices, and fostering a global trading
system that prioritizes fairness, sustainability, and the well-being of all.
Monitoring
Any advocacy effort or program that wants to be successful must be able to
change and adapt based on how it works and what its stakeholders need. To do this,
it takes a strong monitoring system that gives it constant feedback and lets it make
changes so the initiative keeps useful and successful. To make sure the planned
plans and programs for promoting fair and ethical global trade, they need to be
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closely watched to make sure they do what they are supposed to do. This needs a
multifaceted method that includes gathering and analyzing data, involving
stakeholders, and evaluating and changing things on a regular basis.
Hence, the monitoring procedures are shown by the following:
1. Data Collection and Analysis
The objective is to gather and analyze data on key indicators to measure the
impact of the advocacy and programs. In implementing, it should regularly collect
data on key indicators such as fair trade certification rates, sustainable supply chain
practices, consumer awareness levels, and policy changes related to fair and ethical
trade. Analyze this data to identify trends, measure the impact of the advocacy and
programs, and identify areas for improvement.
2. Stakeholder Engagement
To gather feedback from stakeholders, experts should address concerns, and
ensure that the advocacy and programs are meeting their needs. There is also a need
to maintain ongoing dialogue with stakeholders, including traders, consumers,
policymakers, and civil society organizations in implementing these steps. Conduct
surveys, focus groups, and interviews to gather feedback on the effectiveness of the
advocacy and programs. Address concerns raised by stakeholders and make
adjustments to the initiatives based on their feedback.
3. Evaluation and Adaptation
In terms of the aim to periodically evaluate the effectiveness of the advocacy
and programs, there is also a need to identify areas for improvement, and adapt
strategies based on the results of the monitoring and evaluation process.
Implementation can be done to conduct periodic evaluations of the advocacy and
programs to assess their effectiveness in achieving the stated objectives. Identify
areas for improvement and adapt strategies based on the results of the evaluation
process. This includes revising program implementation, refining communication
strategies, and advocating for policy changes based on the insights gained from the
monitoring and evaluation process.
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Table Detailing Monitoring Phase
Monitoring Phase
Objective
Implementation
To gather and
analyze data on key
Data Collection
indicators to
and Analysis
measure the impact
of the advocacy and
programs.
Regularly
collect
data
indicators
such
as
on
fair
key
trade
certification rates, sustainable supply
chain practices, consumer awareness
levels, and policy changes related to
fair and ethical trade. Analyze this
data to identify trends, measure the
impact of the advocacy and programs,
and identify areas for improvement.
Maintain
ongoing
stakeholders,
Stakeholder
Engagement
dialogue
including
with
traders,
To gather feedback
consumers, policymakers, and civil
from stakeholders,
society
address concerns,
surveys, focus groups, and interviews
and ensure that the
to gather feedback on the effectiveness
advocacy and
of
programs are
Address
meeting their needs.
the
organizations.
advocacy
Conduct
and
concerns
programs.
raised
by
stakeholders and make adjustments
to the initiatives based on their
feedback.
To periodically
Conduct periodic evaluations of the
evaluate the
advocacy and programs to assess
effectiveness of the
their effectiveness in achieving the
advocacy and
stated objectives. Identify areas for
programs, identify
improvement and adapt strategies
Evaluation and
areas for
based on the results of the evaluation
Adaptation
improvement, and
process.
This
includes
revising
adapt strategies
program
implementation,
refining
based on the results
communication
strategies,
and
of the monitoring
advocating for policy changes based
and evaluation
on the insights gained from the
process.
monitoring and evaluation process.
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Summary
The advocacy for fair and ethical exchanges in 21st-century global trade is a
comprehensive initiative aimed at tackling the social and environmental challenges
inherent in the current global trading system. In steps such as identifying key issues,
defining the responsibilities of traders, proposing actionable solutions, advocating
for policy changes, and raising awareness among stakeholders, this advocacy seeks
to pave the way for a more just and sustainable global trading. With a goal to create
an equitable and sustainable trading system that benefits all involved parties, the
proposed plans and programs, spanning from fair trade certification to international
collaboration, are strategically designed to bring about positive change. The
advocacy's future trajectory is marked by a commitment to ongoing monitoring,
evaluation, and adaptation to ensure its continued effectiveness and lasting impact
on the global trade ecosystem.
In essence, this advocacy represents a significant step towards fostering a
fairer and more ethical approach to global trade, aligning economic prosperity with
social responsibility and environmental stewardship. Through prioritizing fairness,
sustainability, and transparency in trade practices, the initiative aims to create a
more harmonious and mutually beneficial trading environment for all stakeholders
involved. Through collaborative efforts, continuous monitoring, and a commitment
to adaptation, the advocacy aspires to catalyze a transformative shift towards a more
equitable, responsible, and sustainable future for global trade, ultimately benefiting
not only current but also future generations in the global community.
Conclusion
The
twenty-first
century
offers
a
one-of-a-kind
chance
to
redefine
international trade in the direction of a more moral and environmentally responsible
future. Individuals who engage in trade have the ability to make the world a more
equitable and just place by adopting social and environmental responsibilities. In
addition
to
underlining
the
necessity
of
collaborative
action,
stakeholder
participation, and continuing monitoring, this advocacy provides a framework for
supporting exchanges that are fair and ethical. Through collaborative efforts, we have
the potential to establish a global trading system that is beneficial to both individuals
and the environment.
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