Global Shared Value Prize on Offer
Wednesday, 28th January 2015 at 10:11 am
A global prize of over half a million dollars is on offer from corporate giant Nestlé for organisations addressing challenges in nutrition, water, or rural development using strategies reflecting the spirit of Creating Shared Value.
Nominations for the 2016 Nestlé Creating Shared Value Prize are now being accepted, with up to 500,000 Swiss francs ($A700,160) to be awarded to assist innovative, commercially viable, high impact shared value initiatives to achieve social scale and financial sustainability.
The prize is awarded every second year with the aim of rewarding the best examples of Creating Shared Value (CSV) initiatives worldwide and to encourage other companies to adopt a shared value approach.
CSV is based on the belief that for a company to be successful in the long term and create value for its shareholders, it must also create value for society. CSV strategies aim to incorporate both societal and business value into business activities.
According to Nestlé, “In selecting the winner, the Creating Shared Value Council will be looking for an entry that is innovative, applies environmentally sustainable practices, has demonstrated results on a small scale and can be viably scaled-up to help improve people’s lives.”
The Prize is open to social and private enterprises as well as non-government organisations (NGOs).
In 2014, more than 757 applications from 93 countries were received.
The overall winner was Honey Care Africa (HCA) for its Sweeter South Sudan programme, which helps farmers generate additional income from honey production.
NGO MSABI was a runner-up for its True Life Water Point programme providing access to safe water and sanitation, along with franchise firm Sanergy, selected for its Sustainable Sanitation in Africa’s Informal Settlements programme which made affordable and hygienic sanitation accessible to people in low income urban areas.
Nestlé, a nutrition, health, and wellness company, was an early mover in the shared value space and hosts a global forum, the Creating Shared Value Global Forum, where the winner of the Shared Value Prize will be announced in 2016.
The closing date for applications is 28 February 2015. Find out more here.