Premium
How do you get suppliers to change to more sustainable practices? The answer is, you pay a premium if their products meet certain sustainability criteria. For decades this has helped to shift producers towards fairtrade practices. Of course, not all businesses can afford to do this, but it’s increasingly popular for large companies that are serious about reducing their impacts. For example, Nestle will spend over $1 billion to pay a premium to more than 500,000 farmers and 150,000 other ingredient suppliers that adopt or support regenerative farming practices that improve soil health and reduce dependence on synthetic fertilizer.
— Wayne Visser
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From Purpose Inspired: Reflections on Conscious Living, Volume 4. Buy on Lulu ↗