Let’s face it, navigating the world of ethical consumption can be tricky. Here at BAFTS, we get it. We hear all the time, “BAFTS? Isn’t that the awards show?” (Don’t worry, it happens to the best of us!). This post is here to clear the air and show you how fair trade, social enterprise, and doughnut economics all work together for a brighter future.

Today, we’re also celebrating the incredible work of BAFTS, a champion for ethical trade that deserves its own red carpet moment, just like the recent BAFTAs (yes, that one!).

Here at Ethiqana, a BAFTS member and a certified Social Enterprise, we believe fair trade and social enterprise deserve a standing ovation. They’re not some after-party chit-chat – they’re essential tools for building a future that’s both fair and sustainable, a future worthy of its own blockbuster sequel.

Double Feature: Fair Trade & Social Enterprise

At its core, fair trade is a practical solution to combat poverty, exploitation and climate change through the way we do business. By following the 10 principles like paying a living wage, ensuring no child labour, and respecting the environment, fair trade puts people and planet first.

It’s a total win-win approach where everybody benefits – farmers, artisans, consumers and Mother Nature herself. Fair trade empowers disadvantaged communities to build sustainable livelihoods with dignity instead of relying on charity handouts.

But fair trade isn’t just an economic model, it’s a social movement sparking grassroots change in both the Global North and South. And this is where social enterprise comes in as the perfect partner in helping to create an equitable world that works for all.

Social enterprises are businesses driven by their values and reinvesting profits back into their mission, whether that’s supporting refugees, boosting community resilience or protecting the environment. The rising B Corp movement of companies meeting the highest standards of social and environmental performance is part of this trend.

Beyond Kumbaya: Real-World Results

Alright, fair trade and social enterprise might not have the same ring as “Lights, Camera, Action!” But here’s the thing: they’re based on sound economic principles, far more compelling than a poorly written script.

Fair trade fosters sustainable agriculture and ethical labour practices, empowering producers. Social enterprises tackle social issues head-on, creating jobs, training, and opportunities where they’re needed most. This creates a ripple effect, boosting local economies and building a more equitable world – a box office smash for everyone!

Fair Trade, Social Enterprise, and the Doughnut of Wellbeing

From my viewpoint, fair trade and social enterprise are not separate entities, but rather two sides of the same coin, united by a common purpose: building a fairer and greener world. Here’s where doughnut economics comes in. 

This tasty theory, developed by Kate Raworth, proposes a framework for human prosperity that respects the planet’s boundaries. We want to meet everyone’s basic needs (the doughnut’s hole) but avoid overshooting our ecological limits (the doughnut’s outer edge). Fair trade and social enterprises are like the sprinkles on this doughnut! By ensuring fair pay and sustainable practices, they contribute to a more balanced and delicious world.

Fair trade and social enterprise are key ingredients in this recipe for success. Fair trade pricing ensures producers can meet their basic needs, while social enterprises often focus on environmental sustainability. By integrating these practices, we can contribute to a world that thrives within the doughnut’s sweet spot.

Choices for a Doughnut World

Of course, fair trade and social enterprise alone can’t solve the huge challenges we face like poverty and climate change. We need systematic economic and social reforms, as well as holding corporations and governments accountable.

But making values-based choices to support businesses doing good through your purchasing power? That’s a brilliant start anyone can make. Every little bit counts towards weaving a beautiful new tapestry of the world we want to see.

I’ll leave you with a quote that I came across very recently: “Profit is like the air we breathe. We can’t live without it but it’s not the reason we live”

Something to ponder over a steaming cuppa Fairtrade tea…