Forward this Session

Forward this Session

FAIR REMITTANCE CERTIFICATION: GOOD FOR CONSUMERS AND BUSINESS (COMPASS PRINCIPLE: BUILD TRUST)

As the locus of major interaction between immigrants and the financial sector in the U.S., remittances hold a key role in the financial empowerment of the immigrant population. Appleseed is working with the remittance industry and NGOs in a “win-win” manner to craft a market-driven, stakeholder-based remittance certification system akin to Fair Trade certification for agricultural products and Forest Stewardship Council certification of forest products. This can create a “race to the top” for those companies wishing to adopt features attractive to consumers that can advance their business. Fair Remittance Certification would provide a new mechanism for encouraging and rewarding improved practices in the remittance provision industry. The project is congruent with the Compass Principles and can serve as an early application of all the principles.

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