The Global Shared Value Award recognizes and encourages corporations to address major societal challenges through innovative business strategy, that is, to create “shared value.” The award recognizes private sector engagement and innovation that improve the quality of life and build prosperity for companies, individuals, communities, regions, and the world.
The award is presented annually at the Abundance Dinner, which serves as the closing ceremony of the Global Action Summit.
MaterCard’s stated mission is to deploy its “technology and expertise to make payments safe, simple and smart” in pursuit of its vision of a “world beyond cash.” With revenues of $10.8B, MasterCard operates in 62 countries and employs over 10,000 people.
In selecting MasterCard for the 2017 Global Shared Value Award, the independent award panel drawn from business, academic, and nonprofit leadership noted that the company is “doing something highly innovative and distinctly different from others in its industry that creates substantial shared value and is deeply integrated with its core competitive strategy.” The committee also noted MasterCard’s work on inclusive economic growth through the MasterCard Center for Inclusive Growth and Financial Inclusion, which conducts and supports various academic research and strategic philanthropic initiatives to empower people through inclusive economies; partnerships for micro finance in developing regions; its 2KUZE initiative to provide a mobile marketplace to connect smallholder farmers with real-time updates to negotiate quantities, pricing, payment, and distribution; and financial data analytics, including research with PolicyLink on 100 million people living at or below 200% of poverty line in US, among other strategic shared value corporate strategies.
“At this critical strategic juncture in the global economy as the private sector is moving toward integrating positive social, environmental, and governance impacts into core business operations, Global Action Platform is honored to work with KPMG International in the presentation of this Award,” states Dr. Scott T. Massey, Founding Chairman and CEO.
“Our international alliance of universities and businesses are working to create scalable, sustainable solutions for abundant food, health, and prosperity for every person. We see the Global Shared Value Award as an important way to advance these goals. KPMG brings tremendous thought leadership and analytics that can deepen our understanding of shared value and help us expand its impact.”
“KPMG International is excited to continue to work with the Global Action Platform to recognize excellence in creating shared value. Business has a critical role to play, in partnership with governments, civil society and the development community in working towards the global achievement of the Sustainable Development Goals (SDGs). Creating long term shared value, which is good news for business and the community, is an essential element in mobilizing the private sector engagement necessary to achieve the SDGs” said Timothy A.A. Stiles, Global Chair of International Development Assistance Services with KPMG.