Fair trade practices refer to a set of guidelines and principles that aim to promote ethical production, trade, and consumption of goods. These practices ensure that workers are paid fair wages, working conditions are safe, and environmental sustainability is prioritized.
Related terms
International Labor Organization (ILO): A United Nations agency that sets international labor standards and promotes decent work for all.
Ethical Consumerism: The practice of making purchasing decisions based on the ethical values behind products or services.
Sustainability: The ability to meet present needs without compromising the ability of future generations to meet their own needs.