Planetary Welcare principles for just and sustainable futures: a compass for system change, trade reforms, and transformations

Abstract

International trade, a cornerstone of the global economy, has witnessed substantial growth since the start of the 21st century. This expansion, largely driven by liberalizing policies and supported by initiatives like the United Nations Sustainable Development Goals, has deeply integrated economies worldwide, making trade a substantial part of global gross domestic product (GDP). However, this growth also spotlights cultural, social, and environmental consequences. Studies indicate that trade is responsible for up to 70% of global environmental impacts, often transferring burdens from “developed” to “developing” nations. While trade bolsters economies, it also poses risks to people, nature, and the planet. In this article, I introduce the Planetary Welcare compass, an innovative framework designed to navigate these multifaceted challenges and drive transformative change. This framework integrates diverse perspectives on development, equity, sustainability, and planetary health into five interconnected principles: enhancing well-being, promoting balanced consumption, fostering accountability with integrity, embracing rooted globalism, and championing environmental stewardship. The article delves into the foundation of this framework and applies it to the overarching strategies of both the World Trade Organization (WTO) and the International Fair Trade Charter (IFTC), highlighting their divergent approaches and associated challenges. In conclusion, the Planetary Welcare compass offers a comprehensive set of principles to guide and assess production and consumption systems, including trade policies and agreements. It suggests a significant shift from the traditional welfare-state model toward a broader focus on planetary health, equity, and sustainability, ushering in the emergence of a “Welcare state” paradigm for a just and sustainable future.