We are proud to welcome the first members of the Standard Advisory Council (SAC) of the True Price Foundation: Rui Benfica (International Food Policy Research Institute), Prof. Philippe Baret (UCLouvain), and Prof. Francesco Marangon (University of Udine) and Reinier de Adelhart Toorop (Impact Institute & Erasmus University Rotterdam).
– November, 2025
An Open Standard for Rights-Based True Prices
For over 10+ years, the True Price Foundation has developed a method to monetise and quantify social and environmental impacts through a rights-based lens. We believe that a product is sold for a “true price” only when all human and environmental rights are respected in its production, and that true prices are needed for a truly inclusive and sustainable economy. Our open methodology has been used by businesses and researchers worldwide, and is inspiring the development of the True Cost Accounting field, recently embraced by the FAO. Together with our implementation guidance, it forms the foundations of the True Price Standard which we believe is needed to bring our vision of a true price economy to reality.
The goal of the True Price Standard is to standardize the quantification and communication of social and environmental costs, embed labour, human, and environmental rights in true cost accounting, enable informed, fair, and sustainable decisions in business, policy, and personal shopping, and promote the internalization of external costs through improved market regulation and business practices.
Building Blocks of the True Price Standard
Over the years, we have been publishing the different building blocks of the methodology, namely:
- Monetisation Factors for True Pricing
- Three social and human capital method modules
- Six natural capital method modules.
- Assessment Method, outlining the steps and requirements to assess the true price of agri-food products and their value chains.
- Remediation Guidelines as well as a Blueprint for True Pricing in Food Retail and Food Service: a guidance on implementing true prices in the econom
(Access all the documents here.)
Why a Standard Advisory Council?
As the True Price Standard continues to evolve and gain traction, independent guidance becomes ever more important. With their combined expertise across academia, impact valuation and true cost accounting, the SAC plays a crucial role in guiding the continued development of the True Price Standard. By providing independent input on methodological updates, emerging research priorities and alignment with international best practices, the Council helps ensure that our work remains credible, transparent and relevant across contexts.
The SAC advises on:
- Methodological improvements and updates
- Emerging research priorities
- Alignment with international best practices
- Clarity, usability and transparency of the standard
This marks an important milestone in the evolution of the true price movement. Ultimately, we are charging the members of the Council with the not-so-easy task of helping us to make sure that what we do is actually as transformative as we want it to be.
The First SAC Meeting: Setting Direction
On 6 November, the Council held its first meeting, bringing together Rui Benfica (International Food Policy Research Institute), Prof. Philippe Baret (UCLouvain), and Prof. Francesco Marangon (University of Udine). The session was chaired by Reinier de Adelhart Toorop (Impact Institute & Erasmus University Rotterdam).
While only a first step, the discussion already surfaced important shared insights, including:
- The need to clearly articulate the rights-based foundation of true pricing and how it differs from other true cost approaches
- The importance of usability as a core research and development priority
- The value of clearer terminology: true price, true cost, true value, and when to use which
- The reminder that every true price calculation should start from a clear decision-making need, not the calculation itself
These reflections will help shape the next phase of development of the True Price Standard.
On behalf of the team here, thank you to the first members of the True Price Standard Advisory Council, and to everyone contributing and supporting the true price movement!
Meet all current SAC and Board members of the True Price Foundation here.