Transform Trade, formerly known as Traidcraft Exchange, announced its name change on Wednesday in an effort to change how it operates overseas and fight injustice in the trading system.

The Christian trade justice charity works with farmers and social entrepreneurs in South Asia and East Africa to fight for trade that values people over profit. Its roots are in the alternative trade movement in the north east of England and focuses on fashion, tea and farming.

It’s working to be an actively anti-racist organisation which shifts more power to people in the global south.

Charlotte Timson, Transform Trade CEO said: “Trade is driving so many of the crises the world is facing.

“Climate breakdown, the cost-of-living crisis, global food and energy price spikes – our broken trade system is behind it. We urgently need to transform the 99 per cent of world trade that isn’t part of the Fair Trade market and rebalance power. If not, our very future is threatened.”

The name change comes ahead of a report due to be published by the charity next week that identifies the most dangerous flaws of the current trade model and what needs to change.

Richard Adams, social entrepreneur and the original founder of the charity, said: “Transform Trade have picked up the baton with their new strategy and name: they’re reinvigorating the radical roots of the organisation we set up in the 1970s. The work is not yet done.

“Right now, we’re hearing reports that the UK government is planning to remove even the mention of human rights from the trade deal being negotiated with Gulf states.

“But there’s a global movement in the other direction – to create a better trade system, one which prioritises people and a safe climate. In partnership with people who have direct experience of injustice in trade, we know that change is possible.”

Transform Trade remains the partner charity of Traidcraft PLC, the Fair Trade company it emerged from in 2018.