Achieving the triple bottom line through fair trade

The coronavirus disease 2019 (Covid-19) changed our lives practically overnight, redefining our way of life and how we do business. Travel restrictions, community guidelines, and curfew schedules keep on changing and the same thing goes for business success and effectiveness measures. While different organizations use various indicators to assess success and effectiveness, I believe the most common denominator is profit. High profitability is good but profit should not be the end goal. Instead, the organization must strive to achieve the triple bottom line: the 3Ps of sustainability known as profit, people, and the planet.

The Fair Trade (FT) program, in my opinion, is aligned with the triple bottom line since it addresses the three Ps. Let me explain.