On September 19th,the Sustainable Terms of Trade Initiative (STTI) hosted its 4th Advisory Board Meeting, aiming to hear valuable insights from board members regarding the priorities set for the 3rd phase.
The objective in phase 3 is to contribute to transform business models so that they support equal partnerships in a way that brings benefits to buyers, suppliers, workers and the planet.
The heart of this phase comprises of 8 essential streams encompassing grievance mechanisms, MSl engagement pilot projects with brands and manufacturers, STTI governance,Learning and implementation Community，Supplier Contract Clauses, Policy, Media and Visibility. The advisory board actively engaged in discussions, with a particular focus on the impact of pilots with manufacturers and brands, seeking to drive tangible progress and influence purchasing practices.
The Advisory Board provided crucial input to support the development of STTl's phase 3.Notable recommendations included leveraging existing work on grievances to avoid redundancy and employing admissibility checks based on recognised Responsible Purchasing Practice (RPP) frameworks, such as Common Framework for Responsible
Purchasing Practices. Collaboration with the OECD was encouraged to foster mutual understanding between brands and suppliers on RPP demonstrating the importance of engaging with industry stakeholders and policymakers.
The Advisory Board commended STTI for its achievements and acknowledged the depth and breadth of its third phase. In addition to offering feedback,the board shared recommendations to bolster STTl's pilots with brands and manufacturers.Emphasis was placed on showcasing practical applications of good purchasing practices and creating a platform for sharing knowledge and experiences within the industry,as several organisations are already involved in pilots, bringing valuable experiences to share.
Furthermore, the Advisory Board highlighted the importance of research outcomes, specifically in understanding shared risk and reward models.Collaboration with industry experts and bodies like the International Trade Centre (lTC) and lLO was encouraged to enhance the impact and credibility of these pilots. |
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