Increasing pressure from consumers, employees, and shareholders to look beyond profit and show leadership in addressing social and environmental issues sees an increase in the uptake of shared value and its evolution as a key strategy for business success and sustainability in the twenty-first century.
The 2018 Shared Value Awards, announced in Melbourne at 7.00pm on Thursday 18 October, have recognised organisations from tourism and fast-moving-consumer-goods to insurance, finance, and consulting, for effective application of shared value to address social problems that intersect with their business to create scalable, profitable solutions.
Recognised for championing shared value as key for business and society to flourish, the 2018 Shared Value Champion is Damien Mu, Chief Executive Officer at AIA Australia and New Zealand. Under Damien’s leadership, AIA is making a positive difference, for people to live longer, healthier and better lives with shared value initiatives that provide incentives for health and reduce the burden of disease.
Announced as Corporate Organisation leading through shared value, the world leader in engineering and construction, Arup, was acknowledged for its significant role in helping urban, rural, and peripheral environments and communities tackle pressing challenges for society relating to cities, water, energy and transport.
Another four awards were presented to organisations and individuals as follows:
- Shared value organisation to watch: PricewaterhouseCoopers
- Shared value project by an organisation or collaboration: Carnival Australia’s YuMi Tourism Project, delivered in partnership with The Difference Incubator and Department of Foreign Affairs and Trade
- Shared value project, highly commended: PricewaterhouseCoopers Indigenous Consulting
- Shared Value Trailblazer: Sasha Courville, Head of Social Innovation at National Australia Bank
- Civil organisation leading through shared value: Good Shepherd Microfinance with key partner, NAB
- Corporate organisation leading through shared value, highly commended: Lion
Dr Ken Henry AC, Chair of NAB, 2017 Shared Value Champion, and member of the 2018 Shared Value Awards Selection Committee, said through the selection process we have seen new examples of organisations adopting shared value.
“Success stories like those recognised through the annual Shared Value Awards are a testament to the growth of the shared value community in Australasia, and highlight the desire for business to be part of the solution to the complex social and environmental problems of today”, he said.
Now in its third year, the Shared Value Awards is a firm fixture on the regional business calendar and provides a platform to promote and celebrate shared value in action.