A day of local support for a global economic system which is based in fair trade, corporate responsibility, and socially responsible investment.

May 3, 1999

Expressing San Francisco's opposition to unregulated economic globalization in its current state and support for fair trade, responsible investment, and sustainable and equitable economic development,

    WHEREAS, the United States as a whole consumes the greatest amount of goods and services in the world, invests the most capital, and thus wields tremendous influence in the global economy; and

    WHEREAS, it is in our local interest to have a stable global economy which allows for productive local and regional economies; and

    WHEREAS, the current financial architecture has been inadequate in dealing with the global economic crises, as evidence by crises of unprecedented proportions in Asia, Russia, and Brazil; and

    WHEREAS, investment, trade, and consumption should promote an economy that allows for a decent standard of living and a sustainable use of natural resources; and

    WHEREAS, The Commerce Clause of the United States Constitution allows public entities to place restrictions on the use of public funds when the public entity is acting as a market participant; and

    WHEREAS, as a purchaser of goods and services, the city has a responsibility to ensure that tax dollars are spent in a manner consistent with decent ethical and labor standards, including assuring that workers are paid a living wage, and purchasing goods made in the most fair manner when possible; and

    WHEREAS, as an investor of capital, the city has a responsibility to ensure that its capital investment promotes sound development policies, supports responsible corporate activity, and does not engage in speculation; and now, therefore, be it

City and County of San Francisco hereby Proclaims May 8th as Fair Trade Day, a day of support for a global economic system which is based in fair trade, corporate responsibility, and socially responsible investment.