Innovation is intrinsic to shared value. That’s because the social and environmental issues posing the biggest threat to business are ever-changing; prompting companies to continue reimagining how they maintain a competitive advantage in the current climate.

This throws out any case for complacency, resting on our laurels, or ‘set and forget’ solutions. Instead, shared value demands the highest level of always on transformation, to ensure consistent and relevant social outcomes which allow business and society to thrive simultaneously. The formula? Unwavering persistence, adaptability and strong leadership.

These are precisely the qualities which the Asia Pacific Shared Value Awards are designed to recognise. The highly-anticipated annual event celebrates each new wave of innovation.

Shared Value Project CEO, Helen Steel, says the Awards will provide a platform to acknowledge recent achievements, while also beckoning further shared value growth.

“Each year I am moved by how far we have come in shifting the role of business in the Asia Pacific to contribute both social and financial returns; and it is enormously satisfying to recognise those making this possible,” she said.

“Taking shared value forward requires a unique set of forward-thinking businesses, corporate leaders and individuals who are willing to move outside their own comfort zone for the benefit of a bigger purpose. In doing so, these companies are carving out a role in today’s ecosystem which is so indispensable, that if they ceased to exist, the world would truly lose something meaningful.”

She added: “But what is perhaps most rewarding is the surge of optimism and renewed energy that comes from bringing those who have subscribed to this movement together; as we strive towards continued improvement. By surveying the pace at which shared value is evolving through the inspired progress of our peers, we are steadily creating new benchmarks for success; and elevating the positive outcomes for business and society in turn. In this way, the Awards remind us year-on-year that our shared value journey knows no bounds.”

Notable winners from last year’s Awards included AIA Australia and New Zealand CEO Damien Mu, who was named 2018 Shared Value Champion of the year. Under Damien’s leadership, AIA has made a remarkable contribution to helping people to live longer, healthier and better lives, with shared value initiatives which provide health incentives and reduce the burden of disease.

A world leader in engineering and construction, Arup was acknowledged as the Corporate Organisation Leading Through Shared Value, in a nod to its role in helping urban, rural, and peripheral environments and communities to tackle pressing challenges for society relating to cities, water, energy and transport. For a full list of last year’s winners, see here.

The Awards are judged by an independent Selection Committee, and allow for organisations to enter more than one category.

Companies which are using their business to generate dual economic and societal benefit are strongly encouraged to submit an application by Friday 30 August. The winners will be announced at an awards ceremony in Melbourne on 23 October.

To find out more, see here.