Socio-Economic Impacts of Trade
What is Sustainable Trade?
Sustainable trade refers to the practice of trading in a manner that simultaneously supports economic growth, social development, and environmental protection. In 1987, the United Nations published the Brundtland Commission report which stated, “Sustainable development is the development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” As global trade is such an important economic driver of the world economy, it is essential to consider the social, economic, and environmental consequences and impacts of trade on both people and the planet. How can sustainable trade ensure long-term benefits, and what practices can be implemented to ensure long term sustainability of the industry?
Trade has been instrumental i